Innovation is the gateway to success in the modern world. For businesses, this means doing something different, better or smarter than what has been done before. By using emerging technologies, businesses can make a positive difference to the quality and value of their products and services, as well as increase productivity and ultimately drive success. Information Technology (IT) has drastically changed the lives of individuals and organisations in the past decade, and with the rise of cloud-computing, online shopping and social media, just to name a few, the IT revolution doesn’t appear to be slowing down any time soon.
Businesses around the world are utilising IT and other emerging technologies to achieve more effective marketing, business planning, sales, management, support, real-time monitoring and more, with all the evidence pointing towards the fact that optimum long-term business growth and success is not possible without at least a basic level on IT. Success depends on a large number of factors including future vision, accurate analysis and choosing the right technology and the recent advances in IT have stimulated a fast-paced business environment both in New Zealand and around the world and today it is difficult to find a successful business that isn’t utilising some form of IT.
Research in the last decade has proven that those businesses that do invest in technology and choose innovation over sticking to the status quo increase their financial figures, market share and overall competitiveness significantly faster than those who don’t. IT can provide you and your business with the opportunity to analyse and experiment with business information, solve complex problems and accurately plan the future growth of your business. Here are just a few areas where businesses are seeing increased growth and success due to the adoption of IT:
The heart of growth and success for any modern business is in its marketing, and in a world so heavily influenced by social media it can often be difficult for companies to leave their mark. IT provides a solution, enabling management teams to better identify their target audience, and observe trends and needs of their potential customers. Digital marketing allows you to promote your business on the same platform as your competitors, creating a more even playing field that is guided by the quality of the marketing rather than just the amount of money a company has to spend on advertising. Currently website and social media marketing are booming as many entrepreneurs have seen the benefits it holds and understand the long term success that can occur as a result of having a strong digital presence.
Effectively managing all the resources at your disposal is an issue many businesses face and it plays a crucial role in business success. The amount of resources businesses have to manage these days is huge and it is often very difficult for companies to manage tangible, financial and human resources manually. This is where IT has played a huge role in the past decade; automating complex processes and solving problems by introducing a number of user-friendly solutions. Enterprise Resource Planning (ERP) solutions are a fairly recent development in the IT field and allow businesses to manage, monitor and track their organisational resources from virtually anywhere in the world, which is slowly driving a change towards the globalisation on many businesses that would otherwise be stuck with manual resource resource management and be without the ability or means to expand their operation.
Another key component of business success is ensuring that your customers are happy with the product or service you are selling them. This all depends on how well you know your customer’s needs, behaviours and trends, and effective communication and support are the best ways to understand customer demands, problems, and ultimately, the solution to these. IT and social media provide a number of unique channels businesses can explore in order to communicate with their customers. Email, online newsletters, social media, SMS, webinars and more can be utilised to interact with customers and receive feedback, and can be combined with a Customer Relationship Management (CRM) system in order to store valuable information for understanding your customers and providing them with the best possible goods or services.
Speed and accuracy are key when it comes to making the right decisions for your business, but achieving this can often be extremely difficult and awfully time consuming, often resulting in members of the team taking their eye off the ball. For example, every successful business has to go through a detailed and comprehensive market research process, enabling the management team to make the best decisions for the business. This process can be made easy and painless by utilising a number of IT solutions including online surveys, forums, blog posts, Google analytics and ‘big data’ in order to extract vital information that can prove crucial when it comes to making the right decision. Many of these IT solutions not only provide real-time analytics, but also ensure that the information is accurate by minimising the risk of human error, allowing you to keep your eye on the ball and drive successful changes.
It is becoming more and more difficult for businesses to succeed without leveraging the numerous benefits of IT and emerging technologies, and as IT solutions continue to increase the productivity, efficiency and effectiveness of business operations, modern businesses will continue to rely on IT to achieve success. We here at Capital Planning use IT solutions every day in order to operate and succeed. By utilising the power of existing information technology, we are able to develop and provide our customers with new an innovative solutions to many of the issues modern businesses face. Capital Planning is committed to building better businesses and helping others succeed by providing affordable cloud-based software, intelligent business solutions and practical knowledge. If you too see the power IT can have for achieving business success then get in contact today and see what we can do for you.