Technology is currently ruling the world, and neo-technologies like digital assets and A.I. trading bots are increasingly deepening our reliance on technology for a better future. Technology may have its downsides. But for businesses, the pros definitely outweigh the cons. Here are three ways to capitalize on technology for your business.
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1. Customer Relationship Management
Technology has made it easier for businesses to rake in more customers. But a significantly less number of businesses are using technology to relate and keep these customers. Today’s customer has a very short attention span and many expectations. So ramping up customer support efforts is nothing short of a great option for businesses.
As a small business, you’re likely to lose even your most loyal customer after a sluggish client-to-customer interaction. So, managing customer queries through a virtual call center can help you place your customers first. In this post-pandemic era where businesses are adjusting to new realities, customer-centricity is a good reason to invest in your CRM. Your customers must be kept happy at all times, whether you’re a small business or a large corporation. Generally, satisfied customers mean a profitable business.
And more companies striving to reduce customer service inefficiencies, virtual call center software is increasing in adoption. Managing your contact center via the cloud connects your business to several automation tools to enhance customer satisfaction.
2. Financial Management
One major upside of modern tech for businesses is the endless list of new financial opportunities available. Today money management is mostly done online. And many individuals and businesses buy and trade cryptocurrencies and also use blockchain and other means to manage their finances conveniently.
Breaking through the crypto world may not be an easy journey. There are different cryptocurrencies (like Bitcoin and Litecoin) and various crypto exchange platforms available today. Your business will first need to assess its financial strategy to ensure which coin, wallet, (and cryptocurrency exchange) best fit.
Popular exchange platforms include Binance, Coinbase, or Kucoin. Since its opening in 2017, the KuCoin exchange has grown significantly, seeing over a billion dollars in daily volume. The KuCoin app now supports over three hundred currencies, including the well-known Bitcoin, Ethereum, and Dogecoin. You can check out this KuCoin review for more information on how it’s performing, the payment methods accepted (such as PayPal or debit card), the trading fee, and how to open a Kucoin account.
Generally, the global fintech industry aims to unlock new financial opportunities, especially for the world’s most disadvantaged people. As more people from thriving economies gain increased financial access, businesses can have new markets to leverage for expansion. All in all, consumers expect companies to evolve with them. And when business offerings lag behind customer expectations, that’s a no-no. If your customers show a preference for cryptocurrency, you either match up or lose them to a competitor who listens.
3. Productivity Management
From a petty trader to the most seasoned entrepreneur, increased productivity is the hallmark of efficiency. But how can businesses leverage technology for productivity? A huge part of productivity today relies on workforce collaboration. Generally, modern technology has provided businesses a significant number of benefits for collaboration at the workplace. This is evident in the number of U.S. companies adopting collaborating software.
Technology holds a significant promise for fluid and agile business management where output, not necessarily the staff, is the priority. About 4.3 million people work remotely in the United States. In the U.K., the number crossed five million in 2020. And a myriad of research shows that these statistics will increase a great deal in the future.
Companies can also increase productivity by efficiently maintaining data. Luckily, technological advancement has made it easier for businesses to use APIs and various software to improve data management efforts. With unlimited access to insights and analytics today, businesses can pull the necessary strings in bolstering their growth for the near future. Using data is increasingly becoming an option for many companies across the world.