IT is Indispensable for Business Optimization

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Some cynics may have questions like – we are too small & niche, we can live without technology. Or we are huge & profitable, what more can technology bring to us! The answer for both of them is pretty simple – knowingly or unknowingly we all use technology starting from telephony, video conferences, and Office tools.

For small businesses, technology enables growth through diversification, reach & efficiency. Today, the world is becoming borderless. Designers in Mumbai would love to access insights and inventory from suppliers in Thailand & China. This is possible using technology which is creating a global marketplace. For the knowledge industry, the internet throws so much of information which was not possible just 20 years back. Even professionals like lawyers & consulting doctors use technology for better solutions & faster reach.

When we talk about bigger businesses, using technology results in the reduction of waste, costs lowered, reverse auction make pricing of material competitive, the supply chain is improved and new markets become accessible. Increased revenue or reduced cost, both add up to the bottom-line; something all shareholders want.

INDUSTRIES

If we scan through some industries –

Airlines, Hospitality: Distribution, yield management, end to end fulfilment

Transport & Logistics: Efficiency, Service assurance, global reach

Entertainment & Media:

Distribution, reach through alternate medium

BFSI: Fulfilment, reach, transaction processing, risk management

Manufacturing: Buy to Sell, Supply chain, Shop floor

Retail: Marketing, Fulfilment, Customer Service

BPO & ITeS Online: Buying show tickets to ordering food and groceries to paying bills and organising travel Technology supports it all.

It is clearly evident that it’s not just our businesses but our lives that are IT enabled.

From the time we wake up, emails/messengers and social media updates connect us on real-time basis with people thousands of miles apart. Our app on smart phone monitors our health parameters and another app to remind us of our schedule. Gadgets in our kitchen, our smart Car and infotainment devices are taking charge over our regular routine.

TECHNOLOGY

Various technologies and tools are touching us all the time, many times without our knowledge. And we are still not talking about wearable devices or internet of things!

Your loyalty program with the online grocer, the airline of your choice, the hotel next door – is it not CRM? You google for a new car and when you visit Facebook or LinkedIn, you may be prompted with an advertisement featuring a premium car brand or offered a car loan from a leading bank …is this not big data and predictive analysis?

Your digital footprint is inevitable which makes for great business data used to strategise and innovate supporting a new kind of entrepreneurship and communication. It’s indispensable…! It’s available all around us! Differentiation comes from how a particular business uses it.

See More: Top Plastic Tech Consulting Companies