2020 may well go down as the year where even the most tech reluctant businesses finally began to embrace it. Equally, it’s the year in which those businesses that thought they were already forward-thinking suddenly realized they’d been missing out on technology that could save them huge amounts of money.
It’s the year that so many companies were forced to embrace the tech that allowed workforces to work from home, as coronavirus measures led to a mass requirement for social distancing. Realizing this tech is already available and that it works has thrown up huge questions around the need for costly central office space.
But as we all embrace Zoom, Teams, Google docs, Trello boards, and other tools that allow us to communicate and collaborate effectively from a distance and with fewer business overheads, it raises a question about what else is out there that we’re failing to fully utilize.
Here are a few of the already well-established technologies that could be saving your business money.
1. Artificial Intelligence (AI)
There are a huge and growing number of enabling technologies for all types of businesses now that provide insight and explanation of data that is beyond what any human could achieve in a similar timescale.
Finding the right tools to save your business money is really about analyzing the pinch points of tasks that take a lot of time and then finding the software, app, or machinery that is likely out there to fix it.
AI solutions are now available for a massive range of processes.
Communications professionals who used to manually trawl newspapers to find coverage of their brand and respond as necessary can set up systems that allow that to happen at the touch of a button.
Human Resources teams can tap into and understand data on staff absence that may expose issues with managers or colleagues that can be resolved through training and avoid costly departures from the business and recruitment drives.
AI stands to transform the role of accountants and accounts departments completely, taking over a lot of the day to day processing and logging, freeing them to review costs, and innovate on how to make savings.
2. Website development and social media marketing
Websites and social media presence are so much more than a ‘nice to have’ additional item now.
Whatever sector you are in an efficient, up-to-date, and comprehensive website and social media presence can both save and make you money.
Lost custom is one of the worst ways of losing money and if your website and social media isn’t as good as your competitors it’s likely your customers will go to them.
Installing chatbots and live chat buttons is a way to hold on to customers. In the case of chatbots, those that are well set up and can provide useful information and answers will save your staff time answering questions and free them for more lucrative tasks.
Strong analytics from your website and social media can expose what your customers are really interested in and help you to invest in those rather than wasting time and money focusing on other areas.
Through clever engagement, you can also spread marketing messages far and wide, often without any specific outlay.
3. Telematics for out-of-office staff
Businesses that have a lot of staff out on the road, whether it be delivery services, sales, or anything else, are likely to face a lot of associated costs.
Telematics and fleet tracking systems will help to plan journeys better, assign the best people to jobs, and help your staff to understand their own driving to make it more efficient and safer.
Telematics systems tend to reduce speeds and collisions, keeping your workforce safer and preventing the heartache and hassle that can be involved when things go wrong on the road.
The reality is that your competitors may already be embracing some of these technologies and experiencing the gains they bring. Can you really afford to be left behind?