Business, technology, and benefit are the three terms that, if brought together in one place, could formulate success very smoothly. It is all about setting these three up in a particular manner and making the best out of them simultaneously such that the business must not regret, but only motivate the other businesses to do the same. Can you envisage or idealize either how to do so? That too in the real-time world.
Well, it is not rocket science for sure but to implement all of them in a single place requires awareness, human capital, and agile methodologies in a way that each of them does incorporate the other. It is essential that each of them must co-relate, support, and become a purpose at least for the other two, else it would never be beneficial to deploy anyone in conjunction with the others. And to get it done in real-time, we must hire smarter product engineering companies to get such solutions developed for our organization.
How is technology beneficial today?
The basic purpose of deploying any technology into a business is to generate revenue at a faster rate than the traditional one. If it is not about rapid production, it is worthless of applying technology in a process. Moreover, deploying technology can be either beneficial or vice versa, depending on the purpose of the same as well as on its necessity. Bringing a heavy-duty CNC lathe machine tool just to turn a few tools does not make sense because it can be done with a small lathe tool too.
Also, technology turns beneficial when it succeeds in performing the following functions efficiently-
It must protect the valuable data
Consider a consultation business that you run in the USA, has about a hundred clients across the country and you are to date managing them all by manual means including their file handling, taking care of registration copies, stamp works, duty papers, taxation files, employee worksheets, and whatsoever. Then surely a moment will arrive at which you think of deploying a customer relationship management sort of technology into your business that could help you manage all these things once in for all.
But if the data you have, do not get protected with that software technology, would it be beneficial to you or your company? Thus, an organization must get the best CRM developed by an experienced enterprise software development company so that you never have to worry about the data becoming lost just due to weaker encryption.
It should reduce the overall costing
Considering the same business, if you deploy a technology that assists you to manage your clients through a platform, but does not even cover the capital invested in it. How would you think of deploying it then? A CRM solution usually helps in managing all the data related to clients in a single platform such that neither the office personnel nor the client has to physically hustle for most of the information exchanges.
Otherwise, handling overall data manually must have required one-tenth of the total clients your company possesses, then the remuneration they ask for is nothing but a cost to the company only. Thus, investing in a CRM solution is seemingly a cost-reducing step.
It should enhance the revenue generation ability
The revenue generation ability or in short if we say, the production volume does not increase then where is the fruitfulness of technology within the process? Technology must not increase the production capacity but overall revenue generation ability through an effective feedback system that helps the production line to not make the same mistake again. Software solutions based on machine learning help in doing so.
Thus, to get machine learning-based solutions developed that could help your production line remember the customer experience or feedback so that the production in the future can get better, hire dedicated developers that could manage and develop it smartly.
Improve decision makings
Technologies like artificial intelligence and deep learning are the ones that have managed to create a humanoid itself. Very soon, it can be seen that humanoids are replacing the labor class and occupying every level of work within an organization.
Artificially embedded intelligence along with learning algorithms helps the machine to remember the previous experience as well as the result so that the result must get better or become even more precisely accurate the next time. The combination of AI & ML has proved to have improved decision-making abilities which is why not only technical organizations but also the governments of a few developed countries have employed the same for multiple purposes like weather forecasting, financial budgeting, etc.
Having discussed multiple vital factors that must be their post involving technology within a business, let us now put a glance over some of the technologies available in the market that are actually turning beneficial today and proving themselves better than the others-
1. Social media
If you think social media has more contribution in making just friendly connections but less in businesses then you might not be correct with a considerate margin. Social media today has more advertisements than any other digital platform. Talking about Facebook, we can say it has the second biggest advertising database in the world after Google Ads. Thus, involving social media as a technology to your business is never a deal for just coins.
Social media aggregation is considered one of the most valuable assets in the world of digital marketing. There are social media aggregation tools in the market that could accumulate different social media platforms in one place and prepare an interactive timeline full of feedback only related to your company. Imagine how difficult it would be to gather thousands of feedback on different platforms in one place without an aggregator.
2. AI – Artificial intelligence
It is the technology of today and tomorrow. With never-ending possibilities, artificial intelligence is stretching itself like a steel wire with an amazing expanding ability despite having multiple stress-like obstacles on the route.
Artificial intelligence since its invention is a subject of exploration and is nowadays getting embedded in almost every new technological bi-product. Be it then a mobile phone, camera, application software, or customer relationship management solutions like automated chatbots, games, and whatnot. Being one of the most popular technologies of today, AI development solutions are a bit expensive to welcome in but have way more to give back in return.
3. Software unification (ERP/HRM/ HCM)
In the beginning, we assumed a consultation business with more than a hundred clients, handling everything related to them manually with an adequate workforce required for it. Software unification is a solution to such a shuffled environment within the organization.
ERP solutions, HCM solutions, and CRM solutions are that software that is a single software solution capable of managing the workload of many at a time singularly.
For example, in an organization we usually have an in-house employee connecting software often called Slack, then MS Office and subsidiary application software like Outlook and Excel for document management, Drive or Cloud for data storage, and SaaS-based solutions for customers and dispatch software for better customer experiences. We can have a smart CRM or HRM solution so as to replace almost all of them and deploy one only instead.
Most of the successful businesses are working with such unified software and have smarter HRM solutions developed dedicatedly to benefit the organization and have better in-house as well as rich customer experiences.
4. IoT – Internet of things
Internet of things, a technology that requires hardware control but provides you with all the ease you expect after a tiring day. It is nowadays being implemented everywhere around us. From domestic electronic appliances like Air conditioners and washing machines to heavy machinery like CNC. It is often seen in conjunction with AI & ML.
The one with a hefty capital investment is required but equally in demand as well. It is loved across the globe and has even become a must-have technology within the premises in many developed countries.
We find many other advanced technologies too like deep learning which we can say an in-depth form of machine learning only that is used to remember faces and even manage to develop the face post 50 years from now.
Augmented reality is, again an expensive tool to deploy but is very much a trend in the field of architecture and planning.
Overall, there is no end to technological inventions that could turn beneficial for your business. But it is only about having smarter development and proactive qa software testing services that make the implementation of the three i.e. business, technology, and benefit altogether in a smarter way than ever before.
Scarlett is a technical writer interested in IT consultation services and is associated with A3logics. With a keen eye on all the advancements, the technology has in store, she is generally found reading journals and training the team. A tech geek by nature, in her leisure time, she loves to visit nearby cafes and enjoy some coffee with a book.