In the modern world of business, it is recognized that there are significant challenges that can affect the competitiveness of a company. Firstly, many nations are experiencing high levels of inflation that are resulting in higher costs for many goods and raw materials. In part, this is being driven by the political movements, which is leading to significant increases in commodity prices and the cost of energy. Higher costs eventually must be passed on to the end consumer and this can lead to lower demand for products that results in lower revenue streams. In addition, the emerging cost of living crisis in many Western countries is reducing the spending power of millions of consumers.
This can also lead to lower demand for goods and services, which impacts the profitability of millions of businesses. Both these factors present challenges to a wide range of businesses and can hamper the growth and long-term viability of a corporation. However, it should be recognized that taking steps to improve business productivity can be an ideal way of minimizing any adverse external factors. If a business becomes more productive, it can do more with less time and resources, which can allow it to gain a competitive edge over rival firms.
Today, millions of businesses are looking to harness technology to allow them to improve their productivity levels. In this article, we will learn regarding how to use technology to improve business productivity in detail.
1. Web based communications
In the last three years, there has been a dramatic shift in working patterns for millions of employees. Hybrid and remote models of work are now far more common for staff members. One of the main drivers of this change in working practice was the recent Covid-19 pandemic. Many governments decided to limit the movement of their citizens to slow the spread of the virus and protect key healthcare systems from overload. This was achieved by instigating regional and national lockdowns. Businesses needed to ensure the continuity of their services so were forced to rapidly change working practices to enable staff to work from home.
Today, the worse effects of the pandemic seem to be over, and most countries have lifted restrictions on the movement and group gatherings of their citizens. However, one unexpected outcome of remote and hybrid models of work was that they seem to offer improvements in workforce productivity. Recent statistics indicate that 65% of workers report being more productive when working away from a conventional corporate office setting. Remote staff also enjoy improved work-life balances, as the lack of commuting time allows them to achieve more in a day than could be done previously.
However, it is important to realize that a range of tech solutions need to be deployed to ensure that productivity remains high for remote workers. Video conferencing software helps remote staff to stay connected with their wider teams and ensures that silo working does not occur. In addition, robust web-based applications are needed to ensure remote workers can access the programs they need and stay productive whilst working away from the office.
2. API management for multiple app
As the need to use multiple business applications grows there is a reciprocal need to manage and control these applications effectively. Decades ago, businesses used far simpler programs and applications which were not as complex and did not need to communicate with each other. Today, many organizations require seamless interactions to take place in real-time to power their corporate websites and run essential business systems.
Put simply, there is a greater need for many organizations to use an API management solution to allow complex applications to work together seamlessly and keep productivity levels high. Effective API management systems allow the smooth functioning of multiple applications to take place together whilst limiting any downtime when changes and upgrades are needed to be made.
3. Live project planning apps
A key component of achieving high levels of productivity in business is to ensure that group tasks and projects progress effectively. Put simply, when a large project is undertaken that requires input from a range of different staff members, all stakeholders need to be aware of the progress of each stage. There is a need for real-time updates on the project to ensure that specific tasks do not get omitted or duplicated.
Thankfully, businesses now have access to a wide range of project planning apps that can streamline the flow of individual tasks and provide all stakeholders with an up-to-date summary of the project’s progress. Simple project planning apps, such as Trello, use live boards that can be created and updated to indicate the steps needed for a project to be completed and these are marked off as they are achieved.
Live project planning apps enable teams that may be remote from each other to still understand the overall progress of a project and are vital tools in keeping productivity high. Here are some of the best project planning apps available for businesses today that are suitable for a wide range of industries and specific projects.
4. VPNs for agile working
As previously discussed, the last few years have seen a dramatic increase in remote and hybrid models of working. It is now common practice for teams to undertake their daily tasks away from the conventional office environment and agile working from multiple locations is becoming the norm. However, it should be recognized that some locations that provide internet access may not be as secure as a home or office-based network.
Public locations, such as coffee shops or shopping centres, are increasingly being used for agile meetings and the exchange of information, but their unsecured networks present a threat. Unsecured networks can easily be hacked by cybercriminals, and this can lead to the loss of sensitive corporate data or the introduction of malware onto company IT hardware. Cyber attacks can cost companies hundreds of thousands of dollars and can lead to dramatic losses in productivity whilst remedial action is taken to resolve the damage that has occurred.
Agile working practices can still take place safely and effectively using virtual private networks (VPNs). VPNs use advanced forms of encryption to secure any data that you access or send and connect your computer to another that is based in a different location or country so your true location cannot be identified. Put simply, VPNs are essential components of effective agile working practices when working from unsecured networks.
5. Analytics for improved insights
It is recognized that any organization will need to make a range of short, medium, and long-term decisions that shape the future direction of the company. The business world is full of uncertainty and making ill-informed decisions can be disastrous for a company, as they may lead to poorer outcomes and lower levels of profitability. Businesses need to make informed decisions that are backed up by high-quality data to ensure that they choose the right path.
In addition, companies need to take large volumes of customer data and analyse this in a way that allows meaningful insights to be gained. By understanding buyer behaviour and the needs of the target market, products and services can be produced that meet and exceed the needs of consumers and result in improved sales. Today, many organizations use business intelligence platforms to deliver data-driven insights from a wide range of information sources.
The analytical power of such platforms far succeeds what can be achieved with conventional human forms of data analysis and can deliver timely information that allows a company to stay productive and focused on its goals. There is a wide range of analytics platforms available for business use in 2023, and here are some of the best that are proven to increase productivity and profits.
6. Online staff surveys
Most business leaders understand that a highly motivated workforce will deliver improved levels of productivity and will align more closely with a company’s goals and mission. One way to improve employee engagement and boost motivation in the workplace is to ask for staff views and then demonstrate that the organization is using this information to make positive changes. Staff surveys can be an effective way to deliver this, and technology can be used to make the process of receiving staff feedback fast and efficient.
Decades ago, a staff survey was completed on paper or there was a “suggestion box” for staff improvement ideas. These outdated methods took time to analyse and did not deliver the highest quality insights. Businesses can use a range of online staff survey platforms to receive feedback from their workforce. Surveys can be constructed quickly, and the applications contain analytics functions to allow insights to be gained without the need for human analysis.
7. Back up software
As a final point, backing up corporate information may not seem like a way to improve productivity, but it is incredibly important and should be routinely adopted by all businesses. Whilst the act of backing up information does not directly lead to increased productivity, it protects against data loss or corruption taking place. When this occurs, it will result in significant amounts of work being lost or considerable time needed to rectify the issues.
Work may need to be duplicated to replace the lost information or key IT systems may need to be fixed to rectify the issue that results in downtime across a company. In short, backing up software and systems is a vital preventative measure to ensure that future productivity does not suffer in the event of data loss.