In the past, most companies tended to be in disarray, especially those who had to deal with a lot of paperwork. Audit reports had to be in spreadsheets, reference values had to be written down manually, erroneous performance appraisals were prevalent, and communication across organizations was difficult. These time-consuming tasks depleted every individual’s creativity and productivity, resulting in significant employee turnover and decreased retention in some companies.
Fast forward to the present day, through the internet and various AI-based applications, people can now communicate and collaborate simultaneously even on remote setups or while travelling. In homes, people can obtain information and operate devices with the swipe of a finger or the sound of a voice.
With new devices and platforms being released on a regular basis, we can say that digital technology has indeed proliferated. But, how have these technologies impacted corporate operations today?
1. Automated Workflows
Digital technology has paved the way to automate business operations such as finance, human resources, and customer service. With management systems and automation tools such as Robotic Process Automation (RPA), tasks that used to take hours or even days can now be completed in a fraction of the time.
Businesses that use end-to-end automation can allow employees to concentrate more on their core job functions and specialties on other projects that are also strategically useful for the business. Additionally, by doing so, companies can gradually build up even more organizational capacity for innovation and transformation.
2. Accurate Data Collection and Data Analytics
Gathering data to better understand customers and businesses is now easier thanks to advanced data collection and analytics. Their ability to process and analyze large amounts of data gives companies the power to make better-informed decisions in both corporate operations and workforce management, allowing them to avoid spending on ineffective training and upskilling, misguided marketing efforts, or untested plans for new product and service strategies.
Furthermore, data analysis from targeted markets or potential clients can also assist businesses in identifying trends and patterns and customizing products or services to satisfy these needs. The more information a business has about its customers and what they want, the better equipped it will be to serve them, increasing loyalty and revenue.
3. Improved Operational Efficiencies
When automating operations and utilizing analytical tools to carry out certain tasks and monitor processes, companies are reducing the likelihood of serious errors occurring during the labor process. By being able to control and track operations through a software platform such as a performance management system or learning management system, managers and administrators can ensure that any problems they identify are corrected immediately.
Aside from reducing errors, technology can also make work safer in several high-risk industries, such as manufacturing and oil and gas sectors. For example, before putting a person in an actual work, Virtual Reality (VR) training can be provided to employees in order to give a risk-free learning environment in which they can make mistakes and learn from them without jeopardizing themselves or others. By taking advantage of technology, it helps improve job accuracy as well as safety for workers.
There’s no denying that digital technology has influenced every aspect of modern business. It has transformed the way organizations operate to become more productive, efficient, and profitable, by providing innovative solutions to automate operations, improve efficiency through data analytics, and reduce the number of errors that occur at work. On top of that, employing these technologies to keep ahead of the curve can assist businesses in successfully shifting towards digital transformation.
Interested in learning more about the digital technologies we offer? Keep an eye out for our upcoming blogs! For the time being, look through our wide range of products and services and let us know how we can assist you with your digital transformation. Contact us now!
