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Business Technology in 2020: Your Expert Guide

Posted By Administration, Friday, March 6, 2020

When looking into a crystal ball for future predictions about the development and application of business technology, one needs to make two calculations. The first should be based on what businesses are doing now, and what technology can help them do better. But the second calculation is all about the coming future, and what businesses can do to optimize their structures for a changing world of work.

In this article, both of these reckonings will be brought to bear in a selection of expert advice on where and how to invest in business technology this year.

Centralization

One of the key insights drawn from technology in the twenty-first century is that centralized systems work best. If you’re operating a business with plenty of moving parts, having accessible content, branding, documents, contact lists, and sales databases at hand to all employees can quickly cut corners in everyone’s working day.

Without centralized systems, you’ll instead be doomed to chase people up across your company with emails and calls, and all of that time is wasted, given the current wealth of centralized business technology platform hosted on the cloud that can help you distribute resources across the whole of your business.

Automation

This one’s a future-facing tip and will certainly be the buzzword of the 2020s. It’s automation: the replacement of human, manual and repetitive tasks with a computerized algorithm. By using programs that automate, you’ll free up labor to perform more important and human-centric tasks, like customer service.

You’ll also scrub out human error in systems like sales, database use, and filing, which will boost your business’ productivity. Be careful with automation software, though; as they’re only just emerging, some will be more effective than others – and as such, it’s a wise idea to limit your investment until you find the ideal product to onboard into your business. This pause will also buy you time to consider where you will reallocate your human labor displaced by automation technologies.

Content Creation

In the digital realm, creating content has become something that all businesses have to do – regardless of whether they’re at all interested in the world of graphics, blog posts or marketing videos. As such, your business needs to find a way to effectively use the new digital technologies that facilitate content creation within your teams.

Often, you’ll need to ensure that you’re collaborating on documents throughout the content creation process, and you can do this through digital asset management. read this DAM overview in order to understand how to effectively manage your digital content assets – including the tiniest brand elements through to advanced videographic projects – to make your business produce better content, and faster.

Data Analysis

Most companies are now looking at data as they should be: their primary asset in moving towards a more effective and efficient system of sales, marketing, feedback and profit growth. Without a sound grasp on how to use data, your business will lose out to competitors that have invested heavily in how to use their data to improve their businesses across the board.

Of course, there are programs to help you draw the best insights out of your data – and they’re well worth investing in. Be sure to find those systems that are best-equipped to update and share upgrades over time, so that you don’t have to shift all of your data onto a new system every couple of years.

Communication Technology

Business leaders have recently lambasted the smartphone as a productivity-sapper with hundreds of thousands of workers losing millions of hours each week for their companies when they’re chatting with friends on their devices. The problem is that instant communication is as useful for business as it is for making impromptu dinner plans, and your business needs to embrace this technology to get ahead.

The best software suites for business include an internal communication channel, and a message board, to help you keep in touch with your coworkers. This is best-used, alongside email, to get information moving faster through your business.

Financial Technology

Finally, who can ignore the financial technology wave that characterized the final years of the last decade? We’re now able to perform accounts from our tablet, and make complex financial models, and predictions from those models, in real time using instant sales data that feeds through into programs that can adjust our expected sales by the second. This is a new kind of financial planning technology and it’s the one serious application of technology that has already transformed how individuals and companies perform business in 2020 and beyond.

Use these tips to boost your digital performance and the upgrade of your technological tools this year. 

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