Gain access to all of our featured content, publications, blog posts, and more by signing up for a Premium Account today. I deliver an approach to … I deliver an approach to selling everyone can embrace, even your customers. Such innovation can come from continuously analyzing market trends, listening to your customers, suppliers and advisors, and studying what competitors are doing in order to spot opportunities and jump on them. If you don’t use it, you’re also letting unfulfilled potential stick around in your business without doing anything about it. Websites allow customers to find answers to their questions after hours. Centralised Vs Decentralised Help Desk – Which is Better? You can start with simple steps like regularly surveying customers to identify potential product improvements and setting up an innovation team to spearhead your efforts. It can involve simple, incremental improvements in any area of your company. The Importance of Service Desks – Is It Worth Your Money? Rather than coming up with its most obvious possible use or reducing it to a new aesthetic component, imagine how it could fix your clients’ problems. Our conclusions and recommendations always center on a strong foundation of business data, and our analysts not only understand technology markets but are also experts in the companies that move and shape those markets. Many types of marketing can help … Have you ever found a way to reboot an unused tech solution into something highly valuable? Look at the big picture; technology isn’t simply an operational decision, but a strategic decision that can help shape the future growth and development of the business. Some of actions of technology in business include accounting systems, management information systems, point of sales systems, an… Industrial, Clean and Energy Technology (ICE) Venture Fund, Completing a successful virtual interview. You can find fresh ideas for your business by studying what leading companies are doing abroad. Not only are businesses promoting their brand and increasing their online presence through IT, but they’re able to reach and talk to their customers faster, more efficiently, and resolve any issues that can further improve their business performance. It provided a faster, more convenient, and more efficient way of performing business transactions. With technology in the mix, businesses can achieve faster and more productive rates of growth across a range of industries, types and sizes. Be sure to listen to them. With technology in the mix, businesses can achieve faster and more productive rates of growth across a range of industries, types and sizes. If it makes your life easier but doesn't impact the client, then it might be a waste of money. What about you? Technology has allowed for better communication to those anywhere around the world at any time, with the convenience of just a computer or mobile phone connected to the internet. You may opt-out by. In essence, you need a more complex, nuanced perspective when applying and implementing a technology. You receive the benefits of TBR’s custom capabilities coupled with the subject matter expertise of our analyst staff. In this instance, we increase efficiency and have reduced costs so more resources can be redirected to priority tasks. They can give invaluable insights into ways to innovate, and they will appreciate having your ear. Technology can help business growth to the next level if used wisely. Customers demand value, not hype. Software only matters if it improves the life and outcome for your client. Innovative BDC clients have implemented operational efficiency changes such as streamlining order processing, eliminating production bottlenecks and reducing machinery and employee idle time. Retaining clients and securing a larger piece of a shrinking budgetary pie are IT services vendors’ primary concerns with respect to clients as the pandemic depresses economic activity. As a services and technology CEO for two decades, I draw on years of success and research on how customers make decisions. How technology helps business growth. By taking away the hours wasted away on tasks that produce little to no value for the business through streamlined processes, we now have more time and resources to spend on revenue generating processes that facilitate growth. Improved flexibility and productivity. After conducting the research, organizations can implement results into their business plan. Your job is not just to make sales, it’s to gain customers,  and keep them. Information technology fosters innovation in business. Also, it’s often useful to look at what’s happening in your industry in other countries. It’s only progress if you’re making a difference in your customers’ lives. In addition to a creative, comprehensive understanding of the new item itself, you should develop an understanding of the real effect it will have on your typical client. That can, in turn, lead to still more innovation success because employees are often a company’s best source of ideas. © Copyright 2017 Catalyst Computers. Security Checklist For Small Business Websites. That gap should be where you apply your technology, if possible. Come up with a plan to implement your new tech solution. Innovation doesn’t have to be a world-changing breakthrough. This is because technology gave a new and better approach on how to go about with business. Here in this article, we outline the three biggest ways technology helps with business growth and why you should be implementing these technologies for your business today. Entrepreneurs need an edge to survive and stand out. Business research helps businesses understand their customers’ buying patterns, preferences and pain points, gain deeper insights into the contenders, current market trends, and demographics. With social media platforms such as Facebook, LinkedIn, Instagram, Twitter, and more emerging in global popularity, businesses are able to enhance their marketing and improve their reach and level of customer service. Subscribe to receive, via email, tips, articles and tools for entrepreneurs and more information about our solutions and events. The overall marketing covers public relation, advertising, promotion and sales which subsequently impact on business growth. As a services and technology CEO for two…. TBR’s research services are a lens into the ongoing business economics driving today’s technology companies and markets. That can bring a host of benefits—lower costs, better profit margins, improved customer service and increased competitiveness. Consolidation will […]. That should translate into more sales. Solid metrics can help: Keep track of trends and future markets; Identify areas for expansion; Draft effective strategies for campaigns; Set realistic targets for business Innovation results in smarter apps, improved data storage, faster processing, and wider information distribution. For starters, it expedites production processes, helps you analyze employee performance, helps employees to collaborate, and can increase efficiency in team projects. We ensure you don’t have to deal with issues like lost data, connectivity, reduced productivity, and more – allowing you more time to focus on the things you love doing in your business. And when you need more, our Tailored Services team is available to answer questions for your specific business needs. It’s only through growth that a business can sustain itself and reach higher levels of success. Business concepts and models were revolutionized as a result of the introduction of technology. But with the rapid changes in the IT landscape and competitiveness that all businesses face, it’s crucial to understand how you, as a business owner, can leverage technology to your best advantage and boost business growth. Adding technology to the mix reduced the potential for human error and increased the speed of the research process. There is the potential to apply technical skills across the business for personal exposure and growth, and there are also unique questions that need to be answered around the role of technology in modern business and society. You receive analysis and insights contextualized for your business as well as deliverables built on a foundation of fundamental business data, supported by rigor and expertise. Gartner helps IT leaders understand the models and frameworks along with research into technologies to help you make the right investments at the right time. It can be very easy to fall into this trap. Fast shipment options allow businesses to move products over a large geographic area. We’re positioned between traditional market research firms and management consultants, and our clients tell us TBR isn’t like other market research firms. Business can be more benefited with the help of technology involvement. When an organization is able to make new connections, then it is able to generate potential leads for new business, and improve the efficiency and effectiveness of it’s current business processes. I am an author, strategic advisor and internationally sought keynote speaker on integrity-based sales and business development. Customers demand value, not hype. Companies inherently witness more delegation and … Productivity is one of the most closely … It can slice, dice, and even personalize messages based on past user activity. More technology seems like it indicates more progress and more innovation, but that’s not necessarily true. As a services and technology CEO for two decades, I draw on years of success and research on how customers make decisions. Imagine browsing through your website or using your product or service, and figure out what problems exist or what could be improved. Those same firms saw an average of only 27% of their revenue involve digital technology. Innovation can help you anticipate market changes more quickly and get ahead of opportunities, so you aren’t forced to react to shifts. TBR’s focus on the business of technology sets us apart. With the power of market research developing a … Here at Technology Business Research, Inc, we come to work each day to help the largest IT, telecom and professional services firms solve business challenges. Why Small Business IT Support Services Are Worth The Costs. Technology Supporting Delegation and Coordination. Innovation can help you reduce waste in your business and leave you better positioned to focus on the long-term goals, rather than always putting out fires. Technology improves your productivity in multiple ways. The purchaser thinks you might be able to fulfill a temporary need; the customer is someone who buys from you multiple times and has genuine loyalty to you and your business. Ian Altman is a B2B Integrity-based sales and growth expert, You might have the coolest marketing automation platform on the planet. Cultivating pride in your products and a desire for your company to be an industry leader should reduce workplace turnover and boost productivity. Suite 3 396 Princes Hwy St Peters NSW 2044. Whenever possible, you want more face-to-face time with your customers; this helps you notice any problems or hesitancy and more importantly helps you build stronger relationships with each individual customer. Also, with the versatile uses of mobile phones, we can achieve a range of new business tasks with the increased flexibility and convenience of mobile phone apps and more. This advantage spills into the marketing industry where businesses are utilising technology to communicate their brand’s message to their target audience, as well as facilitating discussions with their customers to ensure peak customer service. Opinions expressed by Forbes Contributors are their own. When customers use technology to interact with a business, the business benefits because better communication creates a stronger public image. Catalyst Computers takes away the worries and frustrations that come with business IT systems. First and foremost, technology affects a firm’s ability to communicate with customers. Either choice is beneficial and helps to set realistic expectations and accurate decisions for business growth. © 2020 Forbes Media LLC. It can also help you differentiate yourself from the competition. For example, brick-and-mortar shopping was once seen as a leisure activity and has now […], A pandemic-induced national problem with a PwC-designed solution In response to the COVID-19 pandemic and subsequent economic fallout, Singapore’s government sought to bolster the SME market, which employs 70% of the city-state’s workforce and generates 50% of its gross domestic product (GDP), in part through a risk-sharing program for loans to eligible SMEs. I am an author, strategic advisor and internationally sought keynote speaker on integrity-based sales and business development. What would take hours can now, with the aid of technology, can be finalised in a matter of minutes. An efficiency expert can help you identify such innovations. All Rights Reserved. You might have the coolest marketing automation platform on the planet. 1) Market Research Centers Business on the Customer. As Joel says, "Before you buy technology ask one simple question: How will this allow us to better connect with our customers?". Research is your best tool for any type of product development, launch, or business expansion. Innovation can provide that edge—boosting your productivity, growth and profitability. Get IT solutions tailored to grow and expand your business. Such innovation can come from continuously analyzing market trends, listening to your customers, suppliers and advisors, and studying what competitors are doing in order to spot opportunities and jump on them. Here are 5 more ways how technology can help you drive small business growth: 1. Unless you can figure out a step-by-step plan to implement a tech solution, in a way that adds value, don’t buy it. If the technology enhances the customer experience, then you've succeeded. It can slice, dice, and even personalize messages based on past user activity. Using effective strategies to understand the demand and supply of the market, businesses can always stay ahead of the competition. Ask for their feedback on innovation in all areas of your business, including how to improve products, marketing and efficiency. An innovative workplace is stimulating for employees. The goal is to constantly be on the lookout for ways to eliminate waste. The role of technology in business caused a tremendous growth in trade and commerce. Oracle executives have not been shy about expressing their support for the current White […], COVID-19 increases demand for edge installments Despite some challenges and resistance to adoption, the opportunity at the enterprise edge is vast, as edge workloads present a key solution to many of the new problems that have popped up due to COVID-19. Understand the Blockchain Technology Spectrum. It can also help you differentiate yourself from the competition. 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