Get Started on these Business Practices & Technology for 2019
It’s that time of the year again, when we take stock of what’s going on in office technology and business process improvement. Here’s what our customers are telling us they’re looking at for the coming year:
Trim the Fat
The stock market is erratic, but business is good. Trade uncertainties coupled with low unemployment leave industries of all sorts wondering whether to hold the status or invest in improvements. Many businesses are flush with cash. What’s the best course of action in these very good, yet highly volatile times? Consider these options for 2019:
- It always pays to invest in your company. This might be the time to expand into a wider service area, invest in new technology or outsource.
- Labor costs are usually the highest cost associated with operating any business. Keeping staffing under control can mean the difference between profitability and loss.
- Look at automating some of your business processes. This can allow you to focus on growing your company rather than struggling with outdated manual processes.
Invest in Your Company
Whether you decide to expand your service area, invest in new technology or outsource, Enterprise Content Management (ECM) should be part of your considerations.
“But ECM is so old-school, you say. It’s not new technology!”
You may even have an ECM system that you adopted a while ago. And, while it’s true that today more documents begin digitally, today’s ECM software not only integrates various documents and data from across your organization, ECM can nearly eliminate incoming paper documents as well, with Digital Mailrooms, Electronic Forms and Automated Workflows. By streamlining the flow of data, businesses improve their (ROI) and reduce customer acquisition costs throughout customer lifecycles. This is a big deal, and our #1 recommendation for investing in your company.
Minimize Labor Costs
Artificial Intelligence (AI) leads the way for all-out back office automation by revolutionizing workflows. From increasing electronic operations to streamlining identification and credentialing, AI has the ability to transform labor-intensive processes across industries. While AI doesn’t necessarily result in fewer overall employees, it does give you the capacity to do more with the same number of employees – and important point when there’s full employment in the labor market.
Your employees oversee the flow of routine tasks, rather than being bogged down by them. More work gets done. More customers are served. Fewer mistakes are made. From data mining and management, to business processes, information technology (IT) services and customer support, many organizations will benefit from automation via neural networks and machine-learning-based solutions.
Examine your Online Presence
Today’s website visitors demand immediate information and instant gratification -- from being able to fill out an online application to finding the information they need quickly and easily – today’s websites are more than just an online advertisement. If you’re updating your back-office procedures, make sure your front-office (which today is your Website) interfaces seamlessly. Use online forms to start the customer journey.
Spend Your Money Wisely
Running an efficient company does not always mean refraining from spending, it means spending money wisely. The experts at Paper Alternative Solutions can advise on paperless solutions that will move your organization into 2019 and beyond.