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Building a More Resilient Business in Times of Uncertainty
Pandemic is not over yet. If we are looking back at 2020, pandemic has affected every business aspects — it has forced many companies to lay off their employees and close or shrink operations. On the other hand, there are also companies that have been able to survive and even built a more resilient business than before.
How do they build a more resilient business in times of uncertainty?
Surviving in times of crisis is not easy and requires the right solution and action. Harvard Business Review’s Research has revealed that “businesses that prioritize IT investments are 35% more productive than businesses that don’t.” This means that most companies are able to maintain their business in times of uncertainty because they have relied on technology to support their operations.
Keep reading this article to know how technology help companies to build a more resilient business in times of uncertainty. Here are the explanations:
1. Technology provides businesses the tools to solve complex processes
One of the main benefits of using technology is to eliminate complex processes. For example, modern companies can use more improved hardware (more memory, faster processors, sharper visual displays, etc) and combined it with smarter applications to make them easier to research data, analyze it, and plan relevant business strategy for the future.
Technology is making the impossible possible, especially to accelerate innovation. Companies will get more insights to find business growth challenges and transform it into helpful solutions to make better strategies.
2. Technology allows businesses to make better decisions
Good business decisions are based on solid market research. Solid market research can only be done through the right use of technology, such as using CRM. A CRM solution helps companies to get relevant information about current market situations and customers.
3. Technology improves customer services
By using technology, companies can improve the quality of customer interactions in an easier way. One of the best technology solution to improve customer services are omni-channel solution, VoIP, intelligent call recording, and other specific solutions that are customized to business needs. By utilizing those technologies, companies can serve customers at anytime and anywhere through various channels and integrate all information into one platform.
4. Technology improves operational efficiency
The use of advanced technology can improve the company’s operational efficiency, especially in times of uncertainty like today, where we are already in 2021 but there are still significant increase of COVID-19 cases. Therefore, businesses need have a strong planning for 2021.
Companies must have new relevant work regulations and make comprehensive use of technology to support operations, such as utilizing cloud computing. Cloud computing allows a company’s employees to use any device anywhere to work. Companies need to ensure that every business process can run smoothly, no matter where they employees are working.
With those benefits, it is concluded that using technology is the best solution to improve business planning and analyzing skills to build a more resilient business in times of uncertainty.
Working together with IT solution provider can become the first important step for businesses to survive and thrive in times of uncertainty. Together with PhinCon, let us implement #TechnologyattheCore strategy to build a more resilient business in times of uncertainty.