How to leverage technology to drive business growth
When the goal is growth, there are plenty of ways to make tech work for you and drive your business to bigger and better things. But as the business tech sector is such a treasure trove of new and exciting developments, when it comes to choosing the right products you can either feel like a kid in a candy store or completely overwhelmed.
Instead of being tempted to start by looking at what’s available and getting lost down a rabbit hole of tech options that may or may not be suitable for your business, the best way to make tech work for you is by looking at what your business needs in order to grow.
Whether it’s streamlining your day to day, building resilience and efficiency, or being smarter about your decision making, there’s a solution out there that can give your business a leg up and build that bottom line.
Focus on adding value
Admin, data entry, reporting… for a lot of businesses, far too much time is spent on paperwork instead of what really matters.
The brilliant people that make up your organisation have the potential to add far more value to your business, whether that’s through providing a more personalised service with customers and clients, or putting their time into building strategies, and driving the business forward. However, with the weight of mindless administrative tasks holding them back, that potential is lost and growth hampered.
Automation technology is a possible solution. Through the use of AI and system integration, manual processes such as collating data for reports can be done in a matter of seconds, and data input need only happen once for all systems within the business to be able to access it.
This then leaves more time for teams to focus on providing excellent service or driving new innovations within the business.
This not only helps your business to grow by improving productivity, it also nurtures happier, more engaged, more fulfilled employees.
Agile businesses are built around being adaptable, efficient, and able to cope confidently with changing landscapes.
There are countless examples of businesses who have adopted agile methodologies and have seen bottom line improvements in time-to-market, quality, productivity, and employee engagement as a result.
Scalability and adaptability are key, as new trends in customer behaviour and ever-changing market conditions require businesses to be dextrous and streamlined. Being able to quickly scale up operations when needed, implement remote working conditions, or collaboratively work to bring new services or products to market drives business growth and leads to improved resilience and a high chance of outperforming competitors.
Technologies such as cloud-based working, data analytics tools, and the implementation of new software solutions and devices across your business is a great place to start.
With cloud-based working, teams are able to work collaboratively regardless of where they are, with access to the exact same information and tools as their colleagues. This means that the obstacles posed by data silos and compartmentalised working within departments are eliminated, leading to a more joined up, streamlined, and responsive way of working.
Take advantage of data
In recent years, data analytics has been opened up to allow anyone within a business to pull out insights and identify trends. It’s revolutionised the way many companies operate, and now numerous tools are available to improve decision making, and ultimately drive business growth.
Data insights and analytics have historically been accessible only through gatekeepers or via arduous processes to extract the right information. Now, data is open and accessible to all via self-service data technology and user-friendly dashboards.
Through these solutions, businesses can harness data to identify trends such as changes in customer behaviour, recurring issues within internal operations, and seasonal shifts in business performance.
These insights can then be used to seize on opportunities to better meet customer needs, improve processes, and strengthen performance across the board.
Data-based solutions are also leading the way in improving business decision making via scenario modelling technology. These tools enable you to build hypothetical scenarios based on different, customisable variables. This allows you to see what might happen to bottom line metrics depending on different eventualities meaning you can be prepared for worst case, best case, and most likely case scenarios.
Ask the experts
Leveraging technology to successfully drive business growth requires a certain amount of know-how, a lot of research, and time. It’s always advisable to speak to experienced experts who can work with you to identify opportunities within your business and advise on the best product to meet your needs, and help your business grow to new heights.
At TSG, we are those experienced, knowledgeable experts. Get in touch with our team today to discuss your needs and find the right business building tech for you.