Using Tech to Improve Business Efficiency

Figures being shown on a laptop

Today, technology goes beyond a phone system and computers. In this century, the technology landscape provides even more options that can improve business efficiency and increase productivity in the different departments.

Business owners, for example, are now outsourcing IT support in Austin, TX, to automate their processes as well as boost employee productivity, provide better customer care, and increase efficiency in accounting departments. Here’s how businesses are using technology in their processes.

Finance and Accounting Department

A study by Accenture Digital Disruption impacts found that by 2021, automation will reduce the finance costs by 40% in businesses. As business cost reduces, productivity will improve by two to three times, according to the study.

The effect of this is that the account and finance teams will now have 75% more time to concentrate on core tasks, helping them provide informed decisions to management. When they incorporate technology in their accounting departments, businesses are now seeing higher accounting efficiency, faster financial close cycles and a more satisfied accounting and financial organization.

SMEs, startups and financial teams working with a shoestring budget can now use simple accounting software to improve invoicing and inventory management. For example, apps and software detect errors immediately, ensuring accuracy in bookkeeping.

Cloud accounting allows storing of data online. This improves seamless software updates, security, easy access, scalability to meet big data demands an opportunity for remote collaboration. There endless technology options in the accounting department.

Human Resource Management Department

It goes without saying that employees are a company’s biggest asset. Improving processes such as recruitment or payroll management is critical to increased business output. Technology is changing how HR departments hire, evaluate and contact employees, raise payrolls and store files.

Used correctly, technology makes HR processes more efficient. Technology such human resource management systems (HRMS), is helping HR departments input, store and track information. Many types of HRMS store data such as worker profiles, attendance records, schedules and more.

Customer Care Department

Clients are the lifeblood of any business; thus, striving to provide the best service possible is not up for debate. Technology is currently playing a huge role in how organizations interact with their customers.

Real-time messaging, the progress of video, artificial intelligence (AI), self-service, and so on, are all changing the day-to-day customer engagements.

Communication

Work station with phone, laptop, and headsetCommunication is one of the most important sectors of customer service. Technology has provided more options on how to connect customers using their preferred method. The older generation, for example, prefers communicating via email and phone calls while the millennial generation prefers SMS messaging and apps.

Provisions of live chats are now ensuring that customers can receive help 24/7. Integrating the phone system can help you leverage the most up-to-date customer information.

Call Routing

Contact centers are now using call-routing technologies and voice recognition where the customer can simply press keys or interact with a computer and get redirected to the relevant department. Call routing allows the customer to go straight to the appropriate person who can handle their needs, without the need of human interaction.

Technology undeniably improves business efficiency in multiple facets. Even just a single technology can improve your business across different key performance indicators. Once you examine your business goals and set the most critical KPIs, you’ll easily select the technology your business needs to improve productivity.

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