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5 Technology Trends To Fuel Business Growth in 2021
In 2020, the COVID-19 pandemic brought uncertainty and stress across the business world, and many did not make it into 2021. There are numerous reasons why many companies worldwide went under, but there are also many ways to rescue your business from the brink of closure if you make smart and strategic investments. Without a doubt, one of the best investments you can make is to focus your efforts on digital transformation across the board.
Introducing technology into your operation and across various processes allows you to enhance productivity, elevate security, minimize financial waste, and remain on the right track. The right tech will allow you to boost everything from customer relationship management to how your employees communicate and collaborate. It can even help you build new revenue streams.
The possibilities here are endless; all you have to do is invest in the right tech solutions. Today, we’re taking a look at the top ways you can use technology to grow your business in 2021.
1. Boosting communication and collaboration
Your first order of business is to improve collaboration and communication across your teams, especially if you’re managing a decentralized workforce. Now that many companies are running on a remote work model, productivity and efficiency are among the first things to take a hit. You can avoid this common pitfall by investing in the right communication and collaboration tech.
First up, be sure to invest in a unified communication system like VoIP. Voice over internet protocol is a cloud-based service that allows you to communicate across various platforms and use low-cost phone calls wherever your employees are stationed. It also comes with mobile optimization for the employees on the go.
Next, you need a comprehensive collaboration tool that allows everyone to work on a centralized digital platform. Project management tools are excellent for this purpose, as they come with a variety of features that help all your teams work together in real-time wherever they are.
2. Optimising everything for mobile users
The mobile demographic is on the rise across the globe, so nowadays, one of the best things you can do to spark business growth is to optimize everything for the modern mobile user. Now that people are enjoying more online freedom than ever before and are predominantly consuming content via mobile, you have a unique opportunity to capitalize on a rapidly growing consumer group. Be sure to optimize your website for seamless mobile browsing and shopping. Ensure that your content is easy to view and your website easy to interact with on all screen sizes. Optimize your content and your site for voice search because mobile users are increasingly searching using their voice instead of typing keywords into the search bar.
3. Using technology to improve your financial potential
Ultimately, investing in the right tech solutions should allow you to stabilize your cash flow, minimize financial waste, and maximize revenue. You can do this directly and indirectly, depending on the tech solutions you implement into your operation.
A direct way to improve your cash flow is to open up another revenue stream with the right tech. For example, now that more and more people worldwide are investing in bitcoin mining hardware, they’re eager to find companies that accept bitcoin as a legitimate payment method. Accepting bitcoin is a great way to add a new revenue stream to your company, but also to promote your brand in the crypto world.
The crypto community is growing every day, and news of forward-thinking brands spreads quickly. This is an opportunity to improve your cash flow and, at the same time, market your company to a whole new customer demographic.
4. Automating menial and repetitive tasks
Automation is yet another powerful way to drive your company forward, especially during times of great uncertainty. Your goal should be to minimize financial expenses while optimizing productivity and efficiency, and one of the best ways to do that is to automate menial tasks and processes. Automation can help you scale your startup safely to maximize growth without breaking the bank.
Not only will you minimize time waste with automation, but you will also allow your employees to direct their talents and expertise towards growing your business. Fortunately, there is always something you can automate no matter the department or the team, so be sure to equip your employees with the right software and hardware that will take some of the workloads off their hands.
5. Improving cybersecurity to fuel growth
Lastly, keep in mind that the last thing you can afford right now is a data breach. It only takes a single cyberattack to ruin your company’s reputation, which is why it’s imperative to improve cybersecurity to keep your company safe and facilitate growth.
Investing in cybersecurity allows you to, directly and indirectly, support growth through higher data security. Your customers will feel more secure in their decision to buy something from your company. In contrast, potential investors will feel motivated to invest in the growth and development of your brand.
Unfortunately, the pandemic isn’t going anywhere anytime soon, but that doesn’t mean that you can’t grow your brand in a volatile business landscape. Use technology to spark growth and stabilize your position in the market in 2021 and beyond.
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