4 Ways a Business Technology Platform Can Streamline Your Operations
From hiring new employees to managing inventory, a business can find multiple ways technology can streamline its operations. But which tools are the right fit for their needs?
An enterprise should select a single platform with world-class components that work together to integrate seamlessly. Streamlining your business is much easier with this approach than dealing with the complexity of multiple integrations.
Real-time Access to Data
For a business to operate efficiently, it must have real-time access to the data it needs. This information can alert managers of any problems, allowing them to take action quickly. For example, suppose a company’s call center has been getting too many complaints about long wait times. In that case, the manager can create an alert to notify them whenever the average wait time exceeds ten minutes. This will allow them to take steps to reduce the number of customers who are complaining about wait times.
A platform such as the SAP business technology platform can provide real-time access to data by reducing the time needed for data movement. This is because the platform can offer a high-performance, low-latency data layer that can be accessed via APIs. This is an effective alternative to the traditional Extract, Transform, and Load (ETL) processes that can be time-consuming and expensive.
A business technology platform also can support business intelligence and analytics applications by enabling organizations to easily integrate SAP and third-party applications and access data from various sources. This can enable companies to automate and streamline their business processes, thereby increasing productivity and efficiency. It can also help improve customer experience by enabling companies to deliver more personalized products and services. It also enables businesses to identify top performers and those who may need assistance so that they can provide them with the resources they need.
Increased Productivity
Whether you’re in the retail, manufacturing, or service industry, productivity is a crucial element for business growth. Completing tasks faster and more efficiently can give businesses an edge over competitors and increase profits without spending much capital. Improving employee morale is the most obvious place to start when boosting company-wide productivity. A healthy workplace culture can encourage positive work habits and give team members a sense of belonging. It can also motivate employees to continue pushing their limits to improve their performance at work. Boosting employee productivity is also a great way to reduce operational costs. For example, if team members work more efficiently, they could either produce more in the same time frame or reduce their working hours to achieve the same output. This could save a company money on payroll, equipment, and other overhead expenses.
Enhanced Customer Service
Regarding customer service, many issues can be difficult to prioritize. Call deflection, agent productivity, and other intangible factors may seem less important than the business’ bottom line. Still, a commitment to customer satisfaction can pay dividends for businesses. Research has shown companies can grow revenues up to 8% above their market when prioritizing quality customer support. Using software tools like queue management, AI-powered chatbots, and proactive outreach capabilities can help organizations streamline their operations while creating an excellent customer experience. These tools can reduce the number of calls that need to be answered by a human, increase the amount of information delivered to customers in real-time and make it easier for agents to deflect low-level conversations and focus on more complex issues. Providing an excellent customer experience also improves the overall productivity of employees and allows the company to create more sales opportunities. New customers with a positive experience with your brand are more trustworthy of your recommendations for additional products. They are likelier to buy more from your business than those with negative experiences. This, in turn, can lead to improved revenue and growth for your business over the long term. This is why it’s so important to maintain high customer service quality standards for both employees and customers.
Lower Costs
A business technology platform can help companies streamline their operations by lowering costs. One example is by allowing teams to build and integrate applications faster. This can lead to more productivity and improved efficiency. The platform can also make developing and implementing new technologies, such as AI, easier. This can improve business processes and increase revenue. Another way a business technology platform can lower costs is by making it easier to automate structured processes and tasks. This can free up employees’ time to focus on more important projects. It can also simplify the process of creating and managing chatbots, which can increase customer service and provide a more seamless experience.
Finally, a business technology platform can also reduce the need to hire dedicated resources. This can be done by enabling teams to develop and implement solutions using prebuilt data models, integrations, workflows, content-rich APIs, and AI business services specifically designed for each line of business. This can help companies to save money on salaries and benefits.
