Nowadays, all businesses strive to boost productivity, i.e., do more with less. While large companies set performance goals to achieve higher efficiency, smaller companies often require increased efficiency to ensure survival. The limited resources of small companies often force them to optimize various business processes. These optimization efforts can sometimes be chaotic and cause excessive stress on the decision-makers. The plus side is those small businesses get to be more creative with implementing productivity measures. The results of this creativity can be rather rewarding and set the stage to continue on a growth trajectory while running leaner than the competition.
There's a lot of jargon for digital tools used to achieve increased efficiency within the enterprise space, artificial intelligence (AI), machine learning (ML), low-code/no-code, digital transformation, robotic process automation (RPA), etc. We'll dig deeper into how to best leverage each of these technologies in other posts. The short version is to apply them in situations that eliminate computationally heavy or repetitive tasks to enable your team to focus on value-added work.
Best for prediction and forecasting.
For example, anticipate when and how much product your customers will need to help with manufacturing, resource planning, purchasing.
Best for enabling your business team to "develop" small, discrete solutions.
For example, trigger an email alert for customers that haven't purchased over a certain period.
Best for shifting away from manual processes.
For example, integrate APIs to consolidate relevant sales information all in one place, instead of visiting multiple sources of information.
Best for allowing business users to emulate a manual process.
For example, copy and paste a sold-to address to a ship-to address when creating a new account.
"Do more with less" holds for businesses of any size, from a one-person shop to a global enterprise. As a small team ourselves, we've tested several digital transformation tools that help us run our company. If you're a small team, you can learn more about them here.
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Originally published November 10, 2020
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