It’s no secret that digital tools and technological solutions can benefit businesses. According to Deloitte, technology allows small businesses to access new markets and target new customers at a relatively affordable cost, and digitally advanced businesses enjoy a wide range of benefits.
Within the past decade, businesses have come to depend on technological solutions to protect data, provide personalized customer service, manage day-to-day operations, and more. Here are three ways tech is changing the way we do business.
Streamlined Security Measures
In 2019, technological solutions to simplify security measures and operational efficiency gained popularity, and security tech will become especially important in 2020. As technology is critical to business operations—and with cybersecurity risks at an all-time high—many businesses are expanding their security platforms to improve operations and boost efficiency.
In today’s digital age, businesses must have streamlined and intelligent digital solutions to mitigate organizational risk, overcome logistical challenges, and meet security compliance standards. The right digital solution can be a workforce multiplier for businesses that invest in it, allowing business owners to improve organizational efficiency and reduce overhead costs.
Investing in a managed service provider (MSP) can help businesses protect data, manage customer data, and scale as needed. As a leader in MSP accounts, OneLogin provides a secure identity platform by eliminating passwords with SAML SSO (Security Assertion Makeup Language Single Sign-On) and challenging application access with Multi-Factor Authentication (MFA). With streamlined security measures, businesses can successfully execute operations while minimizing costly security incidents and breaches.
For years, businesses have used objectives and key results (OKR) as a management methodology to gain an edge over the competition and set goals. When done right, OKRs can give your team members challenging objectives linked to company goals.
Balancing stretch goals, resources, and employee performance takes a bit of practice—but for big companies like Google, Amazon, and Adobe, realistic expectations and consistent evaluations have made it possible to stay relevant and consistently outperform rivals.
Today, OKR management software helps businesses define objectives and track measurable results. In addition to encouraging innovation, OKR software makes it easy for companies to prioritize goals, save time, promote team member engagement, and work toward company OKRs with limited resources.
With the help of OKR software, business owners can create and align individual OKRs across corporate, departmental, and team levels. While the top management defines Corporate Objectives, departments can create their own OKRs to work toward company goals. Team members can also set their own objectives in service of larger goals.
Personalized Customer Experiences
One of the biggest challenges for modern businesses is engaging and connecting with customers on a personal level. With modern customers demanding personalized experiences, businesses must search for digital solutions to stand out from the competition and satisfy customers.
As one of the most prevalent technological solutions in the retail sector, artificial intelligence (AI) helps businesses understand customer preferences, provide tailored experiences, and make informed marketing decisions. Using AI helps retailers create better online experiences by targeting unique interests, building landing pages for specific campaigns, and reducing the time it takes to manage online content.
AI’s real-time monitoring capabilities can also dramatically change the way customers purchase products. For example, when a consumer visits a brick-and-mortar makeup store, AI can gather personal data to offer discounts on previously purchased products or promote items that need to be moved. In addition, advertisements can be tailored to meet specific interests.
Technology has transformed the way we do business—and the technological transformation will continue to shape and define business operations in the coming years. Investing in digital solutions can help businesses protect data, boost efficiency, set goals, and offer improved customer experiences.