Technology is the best ally for business

Tech in business is a great opportunity; here are five ways in which your business can leverage technology for growth and better performance.

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Pablo A. Ruz Salmones, CEO – X eleva Group

Businesses are the main engine of any country’s economy, and technology is the best ally for businesses. The constant changes and improvements create confusion among business leaders when it comes to implementing new technology tools in their enterprises. This progress in technology represents one of the biggest opportunities for companies, though that is true only if it is planned and implemented according to the company’s culture. Here are five ways in which your business can leverage technology for growth and better performance:

Reach

Before the tech era, businesses’ reach was primarily obtained through physical stores and locations. Today, through e-commerce and m-commerce, small and large companies alike are literally one click away from their potential customers. However, we are not suggesting you migrate to an only digital environment, rather, that you find ways of combining both to ensure the success of your business.

Real time answers

Do you remember those times when you could not track your package in real time? Well, that is not the case anymore, is it? Right now, you can simply copy-paste your tracking number and know in that precise time where your order is located. That is true not only for logistics; technology now allows businesses to provide real time, and accurate responses to their clients’ needs and queries, without having someone in the background looking for answers in old databases.

Improving client service

Providing clients with real time answers is one way of improving client service, and there are many others. For example, people are now able to check their bank accounts without needing to go to the bank; they can do it via a chatbot or via a phone call. However, improving client service with technology is not synonym with implementing technology EVERYWHERE. Many times, people, us included, get tired of listening to a voice recording or chatting with a non-human being, which only lowers the quality of service we are providing our customers with. When implementing these technologies, it is vital to do it in a planned manner, and only if the outcome is going to be better client service, and not just costs savings. What is more, in many cases customers buy products because they trust the salesperson on the other end; that means many times, depending on the product you sell, keeping all sales representatives might be a good idea. Tech is meant to empower them, not replace them.

Accomplishing scalability

In business, scalability is almost always taken as a synonym of making things grow without much change in infrastructure and business models. As crazy as that may sound, tech allows businesses to do just that. That is, it allows you to have an infrastructure and grow it without the need to change too many components, making your business model work on a larger scale, and with less resources than the ones you would need if tech wasn’t a close ally.

Lowering costs

Most academic business theories go around saying that companies can be successful either by beating their competition in the cost arena, or creating something to differentiate themselves, which normally involves higher costs but a captive audience. Though these theories have been changing constantly, and now there are some who claim you can do both – precisely with the help of technology – the truth is that even for those companies that differentiate themselves, lowering costs as much as possible is still crucial to business growth. Less costs, more money for the company. Since technology infrastructure is scalable – as we discussed previously – that allows for costs to go down as your business growths in terms of operation and expansion.

In any case, tech implementation, when done right, is the perfect ally for enterprises big and small alike. To implement it properly, it must be done strategically, and with the help and advice of employees, since they are the ones who will end up using that technology; that way you can empower them in their daily activities, and client satisfaction and sales will be greater.

At X eleva Group, we help companies implement their technology strategically, guided by our principle: “the human factor is the key to excellence”.

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