The concept of technology as an enabler has been around for a long time but is still as relevant today as it ever was. Speak to any SME business owner, and they will probably be able to give you an example where the adoption of new technology helped improve their business.
Here, we’ll take a quick look at four areas where software can help improve business performance and grow the profitability of your company.
Business planning is not just about financial forecasts but should include all parts of the business from purchasing and production to sales and human resources. External economic and political developments need to be considered as well as the business trends in your industry.
You will never be able to predict everything with 100% certainty but scenario planning tools make it possible to anticipate and model the effects of a range of different outcomes so that your business will be well prepared and able to make the most of opportunities as they arise.
Nearly every business can benefit from e-commerce. The right e-commerce strategy will break down the geographical barriers of sales, provide the opportunity to enter new markets at a much lower cost, and offer access to customers that have never been reachable before.
From mobile phone apps to social media and online sales, e-commerce and effective e-marketing opens up new opportunities for all types of SME. Any company not maximising the use of online channels risks being left behind by its competitors.
Customer Relationship Management
CRM solutions help you to systemise your sales activity and maximise the effectiveness of your sales teams. As well as helping to win new customers, they also enable you to tailor your relationships with the customers that you already have.
For example, one-time customers can be identified and incentivised to become repeat business customers. Knowledge captured in the CRM can be used to uncover new opportunities for up- and cross-selling and maximise the sales value of each customer.
Whilst offsite courses with a buffet lunch still have a role to play, e-learning provides a highly accessible means for your staff to develop the skills they need, quickly and at a relatively low cost.
There are a wide range of online courses available covering everything from finance to sales to time management. Some courses focus on a specific skill and last no more than a couple of hours whilst others may span multiple years and seek to cover a much broader set of subjects. Staff can do the courses in their own time or during work hours but at a time that suits the business.
A motivated and well trained workforce is absolutely crucial to the success of any business – e-learning can help you get there quickly and without breaking the bank.
Get expert advice
For an easy way to discover how to make the most of any technology investment, come to one of our seminars, or book an appointment to meet with an advisor. When it’s well considered and implemented effectively, technology can play a crucial role in the long term success of your business.