Benefits of Technological Innovation in Companies

by Zazz December 25, 2019 Time to Read Blog: 7 minutes

Thanks to access to technology, companies find a range of benefits to adapt to the current market and grow in competitive environments

Companies interact in very competitive environments, so they face the constant challenge of reinventing themselves and investing in new technologies to differentiate themselves. The competitive environment in which companies move forces them to continually renew and invest in new technologies, the most feared maximum of renewal or death. Fortunately, having access to technology today is not so complicated, since it is open to all those companies that want to use it.

But why is technology so important in companies? Thanks to digital conversion, companies can increase productivity and competitiveness. A structure based on new technologies can be less expensive than a traditional one. Also, implementing data management systems or other computer applications will facilitate the exchange, control and storage of information to be able to get more juice from it and even achieve a competitive advantage, all with more security and promoting mobility in companies.

If you still hesitate to leap, a study that IDC has carried out with the collaboration of Sage, points out that 25% of technologically advanced small businesses have registered a growth of more than 10% over last year. Although the benefits are clear, more than half, that is, 56% of the small entrepreneurs surveyed, have not yet adopted digital technologies, since they prefer to manage their businesses with more traditional methods.

Although a process of change always respects, there is no need to be afraid. Sage points out five steps to help you identify what you can do to prepare your business for the digital age:

  • Identify what activity takes a lot of time or does not report the expected results. For example, does it take a long time to make invoices in Excel? Does it cost you sweats to attract new customers and retain current ones? They may be good options to automate.
  • Determine what you want to achieve. With a technological solution you can achieve very different things: from saving time, to automating tasks or better access to information. Knowing what you want to get will help you leap a better way.
  • Choose with what. There is a very wide range of technological alternatives. Make sure that the one you choose is one that is maintained over time.
  • Think if you can afford it. Analyze that you can get the most out of that technology, if your employees can benefit from it, etc.

What are the prime examples of technology use in corporations?

Some technological solutions are already used by several companies, bringing consistent benefits, either in people management or in increasing revenues. Get to know some of these innovations below.

Big data

Today, we collect and store information digitally, which has led to the accumulation of a huge volume of data. These references can be used to help decision making and to provide insights for companies to improve their performance.

With small steps you will go far. Don’t notice big changes from the beginning. Start by reflecting on the areas in which you could make small changes that translate into notorious benefits.

To promote technological innovation, most companies like AppStudio offer a list of benefits that growing companies can obtain if they include technology:

Optimization of processes

With technological tools, companies can grow from the start. When starting the provision of a service or the production of a product, companies can choose to record the creation, implementation, transport, sales and collection processes step by step.

In this way they obtain competitive advantages because they are giving space and time to work that few companies consider important. With this work done, positioning is the next step. Once the logistics and production base is covered, sales and expansion are the next levels to continue growing.

Tangible results

It is possible to know that the processes have been optimized if the manual work is reduced and the hours of the human teams decrease. This way the errors disappear, and the productivity increases in each one of the collaborators.

Choosing a tool or technological platform will depend on the needs of the business because it has to be focused on generating opportunities to meet the objectives.

Value added

When companies invest in technology they can meet their competitors and sometimes they could overcome them. This is because technology opens borders and they know more about opportunities in the national and international market, in this way executives can bet on greater challenges.

Integrated information

Having platforms that store and integrate business information quickly, safely and easily, allows decision makers to have a resource that gives them the full picture of the company’s situation.

Today the technological tools have the particularity of providing integrated operational information in real time, which is why it is always available to be displayed by the leaders of the organization.

The professionals of the Businesses are aware of the opportunities generated by the incorporation of Technology in growing companies.

What are the prime examples of technology use in corporations?

Some technological solutions are already used by several companies, bringing consistent benefits, either in people management or in increasing revenues. Get to know some of these innovations below.

Big data

Today, we collect and store information digitally, which has led to the accumulation of a huge volume of data. These references can be used to help decision making and to provide insights for companies to improve their performance.

We call this universe Big Data information, which is already being used on many fronts, both in customer relationships and in people management and competitor analysis.

Blockchain

Generally associated with Bit coins, blockchain is a large database that stores various information. As a key advantage, this technology brings decentralization of security measures, creating a shared but at the same time extremely secure data record.

The blockchain has been used for signing contracts, sharing customer data while maintaining confidentiality and recording documents such as certificates and insurance policies.

Artificial intelligence

Artificial Intelligence can optimize various processes, facilitating tasks and harnessing the human brain for issues that require more subjective analysis and interpretation.

Among the various applications of this technology are the use of chatbots, personal digital assistant, management tool applications that measure employee performance, among other possibilities.

Cloud computing

Cloud information and software storage is already widely used, both in business and in our daily lives. This solution increases information security through the application of encryption, allowing access only to authorized persons.

There is also increased mobility, after all, documents can be viewed from anywhere, requiring only one device (which can be a stationary computer, a notebook or even a smartphone).

Cloud computing has brought greater agility and reduced distances, allowing for much more precise management and even teamwork, which is made up of people from different countries.

How to prepare for this technological revolution?

The emergence and use of increasingly innovative technological solutions only tend to grow, after all, humans will always look for ways to improve work and increase productivity.

For this, the company and especially its employees must be prepared to absorb these changes and achieve rapid adaptation. This setting should be done in a targeted and cautious manner.

One of the pillars is the implementation of an organizational culture that favors innovation and stimulates not only the adhesion to new tools, but also the emergence of new ideas and solutions.

Another important measure is the understanding of the real needs of sectors and professionals. Managers can hire the best tool available, but they must first understand if it really can solve a one-off problem that affects productivity. Otherwise, this hiring will be just a waste of money.

How does SER HCM help with your technology in business?

SER HCM offers a multi-resource technology solution that can effectively assist organizations in their internal Human Resources processes. Know these tools!

Performance and development

Goal management and individual performance tracking are important for managers to understand key difficulties, employees who are ready to be promoted and what can be done to achieve better results.

The technological solution centralizes the results and facilitates access to this information, integrating all people management. Besides, it allows the alignment of goals and the structuring of a coherent strategy, making everyone work towards the same goal.

Strategic People Planning

Strategic management of employees is one of the most important points for harnessing human capital and company development. To practice it, one has to deal with a high volume of information.

The best way to organize and centralize this data is with the help of specialized software, which assists in the application of performance appraisals and training programs, the implementation of career development criteria, increasing the transparency of management processes.

Compensation Policies

Remuneration policies are always a sensitive subject for companies. Although salary is not the biggest factor of engagement, it should be paid within the market range.

Also, there must be a relationship between these policies and a clear and well-structured career path. This way, the employee knows what needs to be done to achieve higher and more interesting positions.

Adopting HCM software will help your company HR implement an organized compensation strategy based on job positions and employee performance, reducing the risk of inconsistencies between hierarchical levels.

Corporative education

An important step towards increasing quality, whether in products or services, corporate education helps align professionals and enables them to develop the skills needed to do the job within the company’s expectations.

HCM software enables management of all training management, as well as the ability to correlate positions and levels, meeting audit requirements.

Professional file

The professional dossier is an important tool to track the development of each employee. With it, it is possible to have updated information of the entire history of the employee, which can be used as a criterion for promotions.

This dossier is updated by the employee himself, who keeps a resume available to HR from the organization he already works for.

Climate research

Important for the good functioning of the company, the organizational climate influences the level of employee satisfaction and, consequently, productivity and turnover rates.

An efficient technological solution favors the application of research in less time, valuing the absolute confidentiality of information. This privacy is extremely necessary to prevent survey responses from being altered for fear of reprisal.

These answers allow qualitative and quantitative analyzes, which favor the creation of a well-structured plan capable of correcting the problems identified in the company environment.

Remember that, however well-structured the company is and as much as it has the best tools, if there is no genuine care for the well-being of employees, all efforts to encourage adherence to the tools will be in vain.

Deploying new tools in enterprises is essential for survival in an increasingly competitive marketplace. Knowing the benefits of technology and especially how SER HCM can help, it is easier to propose these deployments to the board.

To learn more about our tools, contact us. Our specialist can make a diagnosis of your company, understand the needs and propose the best solutions.

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Benefits of Technological Innovation in Companies
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Benefits of Technological Innovation in Companies
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Thanks to access to technology, companies find a range of benefits to adapt to the current market and grow in competitive environments Companies interact in very competitive environments, so they face the constant challenge of reinventing themselves and investing in new technologies to differentiate themselves.
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Zazz
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Zazz is a team of creative designers and software engineers, building innovative digital products in North America. Zazz has collaborated with Fortune 500 companies and Silicon Valley unicorns, to create solutions being used by millions of users across the globe.

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