Focusing the Power of Information Technology for Rapid Business Scaling
Focusing the Power of Information Technology for Rapid Business Scaling
Modern businesses are looking for new ways to grow and improve their businesses, they seize every tool and opportunity available for growth. Technology is one of the greatest tools any business can invest in, for rapid business scaling. However, you need to know how technology affects your business before you go into it. Technology can improve your business, and expand your operations. But you must stabilize your demands with the realities of how you do business.
It is important that you understand what technology to invest on for your business, as well as how such technology will affect your business operations, and how to maximize your profits on the investment. Technology has often affected the manner businesses function and it has improved the way businesses produce, communicate, market, and sell.
Information technology does not only improve the mode of operations of a business, it also helps the staff, and helps customers relates with the business. In business today, entrepreneurs and even customers anticipate everything from new technology, from speed to accuracy, to greater connections, to consolidation, and many more. But it is quite risky to believe that merely plugging in a new box will fox everything.
Then use of technology to scale your business requires more than just bringing in new information technology. It involves how well the technology will merge with your system, your IT units, and your customers. One mistake you should avoid is never to allow technology choose you, but you should choose the technology for rapid business scaling. Do not rush to choose new technologies, you must have built a thorough business case that considers the total cost of ownership.
Once you install a technology in your system, you do not have to worry about changes or upgrades for a long time. But it requires continuous care. Scaling your business through technology means different things to different businesses, and network. But if you ask the right questions about technology, the money you invest in it will pay for itself over time and provide profits too.
Below are ways you can take advantage of technology information to enhance the growth of your business rapidly:
- Think automation
Many businesses are using automated processes to improve their efficiency, and the technology behind automation itself keeps improving year by year. Automation A allows you to have better experiences without adding to the number of your staff. This technology helps to improve efficiency and helps your business to meet new business standards. It allows you to reduce the number of people required for work, and less resources needed.
In the business world today, technology tools like enterprise resource management systems, customer service, and financial systems all enhance value and efficiency without having to bring in new people. You can even scale your human resource system by converting to a self-service model. Through this, you can handle a thousand payrolls without needing more hands to do that. Some companies use Online Transaction Processing System (OLTP) to collect and revise online transactions. The system gathers online data, and a financial team can evaluate the data and make changes if need be. The introduction of automation technology to your business helps to free your staff to do other things.
- Intelligent point-of-sale technology
POS systems involves a number of capacities aside sales that can help a business improve. Point-Of-Sale systems are scalable, this means that when your business grows, the software also follows. POS devices can give you timely information as regards the achievement and development of your business. It can also help analysts to develop data that shows the promising returns on your investments.
Furthermore, you can use a POS system to handle financial reports. Accounting can be difficult if you don’t have means of improvement to pricing and advancements, but with a POS system, you can manage the complicatedness. It can also run possible discounts methods for you. It can help determine what merchandise to purchase and how much to sell it. Also, you can use it to generate reports at any time.
Focusing the Power of Information Technology for Rapid Business Scaling
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- Streamline the onboarding process
When your business increases, you will need to employ more staff, and this creates more work for your human resource department. But, with the introduction of technology, you can make the recruitment process easy and fast. You can easily bring on new team members as soon as you need them. There are apps you can use to organize your recruitment process. There are other apps that processes employee’s paperwork and provides training for new members.
With some apps, new employees can be integrated into the business, and all they need is to create an account on the app with their email and passwords. By taking advantage of the technology available, you can grow your business and your staff strength without having to go through the rigors of recruitment stages. You do not need to acquire more staff resources also.
- Advances in customer service
The customer service department of any business is the first point of contact for any client. It is directly responsible for attracting customers, and keeping them satisfied. Sometimes, the way customers are treated determine if they will come back to patronize you. This department is responsible for attracting new customers and keeping the old ones coming again. Technology has made this easier in such a way that you can buy and sell without having direct contact.
In business today, even a multi-million-dollar business does not require to go out of the home. Automation can take care of that, from the sales, to money collection, even to distribution. Some of the technology that is widely used, and becoming common in business today include the use of chat bots, real time messaging, and face-to-face communication devices. All the improvement in technology is to be available for customers at any point in time.
Focusing the Power of Information Technology for Rapid Business Scaling
Customer service technology allows businesses to reach more customers at any time. This improvement in technology helps to scale a business to greater heights. Customers are the real deal of a business, and doing everything to improve their satisfaction is an investment you should focus on in your business.
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(B.Agric, MBA)
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Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
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