Information and Technology (IT) plays a significant role in almost all areas of our lives, at the business level, technological resources have become a vital tool that generates a large amount of benefits for those who know how to take advantage of them, but how necessary is the IT in those growing companies that are just beginning to venture into their respective industries?
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How does technology help companies to grow and compete in London, UK?
The growth of global quality standards, how businesses move, access to information from consumers, among other factors, have forced executives of growing companies to acquire infrastructure and technological tools that allow them to compete in the knowledge economy and help them transform their product and service offerings to grow and compete.
- Investing in technological resources allows your company to rethink and integrate its processes, reduce costs, improve communications, transform business processes, and implement a solid culture.
- Including new technologies, not only allows your company to take advantage of the opportunities of the present, but also to anticipate the changes of the future and be part of the change and innovation in the business world.
- Of course, small or medium enterprises do not demand the same type of technologies that a large corporation might need.
- Luckily, there are technological resources that can be adapted to the needs and nature of this type of business, to its magnitude and capacity, generating positive results that undoubtedly allow them to operate as large.
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Technological Tools Which Helps in Growing the Businesses
Some technical tools for growing companies are CRM (Customer Relationship Management)and ERP (Enterprise Resource Planning).
A CRM software to manage your sales are a vital part for any company; Luckily, there are technologies focused on helping small and medium businesses to increase their sales and improve the level of service they offer to their customers, thus achieving each of the strategic and commercial objectives.
An ERP (Enterprise Resource Planning) allows growing companies to take full control of each of their business processes through their different modules.
It enables you to know in-depth and manage the areas of finance, sales, purchases, inventories, production, among others, integrally optimizing activities, allowing you to have instant access to information and accelerating the growth of your company.
The importance of information for decision making process
When decisions are made in companies, they must comply with certain characteristics, since on this depends on many occasions the success or failure of the organization, we can mention among others:
- Timely
- Fast
- Informed
- Effective
- Efficient (in resource use)
The importance of information for all business organizations is that it is a vital resource; they use it when carrying out their daily operations and strategic meetings.
And, in this sense, a very valid option to grow the value of this vital resource is to integrate it and have it available at the right time so that decision-makers can analyze it.
It is at this time that technological tools play a crucial role in integrating data and increasing the value that they provide for the company.
Knowledge is an important factor in companies both to achieve strategic objectives and goals and to increase productivity and profitability in UK and around the globe. However, even though the information is generated automatically during the operation of the company, many companies are not taking advantage of IT system.
Technology in business decision making
Reliable information is crucial to the decision-making process, both operational and strategic, being more accurate when they are based on sources of information that helpsin reducing the uncertainty and risk of the company.
For this purpose, IT is a very valuable tool that allows collecting, process, and store data that is generated from the same business operation on a day-to-day basis.
This facilitates access to information, and also it reduces the margin of error that may exist when making the same capture several times.
>> Importance of technology in growing companies
Information technologies (ICT) have revolutionized how companies can operate, communicate, plan, and analyze in such a way that efficiency, effectiveness and profitability are improved.
A complement in ICT that helps the execution of decision-making processes is the technology called “Business Intelligence” or business intelligence.
This is the set of technological tools that allow through the intelligent organization of data from the company to perform detailed analyses to increase the performance of the company or its competitiveness.
Business intelligence offers various benefits for your company, such as:
- Greater visibility of your business operations.
- Centralized and detailed reports.
- Analysis of trends and forecasts of the future.
- Making accurate decisions.
- Have timely and reliable information to solve your business questions in a more agile way.
- Obtain key business metrics and indicators.
Frequently the available information of the company is a limitation for the right decision-making process, which is why companies today are betting on the implementation of different tools and solutions that help them achieve their goals and simplify obtaining reliable data to be able to carry out an accurate analysis and make informed decisions.
Conclusion
Technologies have come to stay; they have become an alternative to reinventing small and medium businesses. Therefore, the support of IT has been very crucial in growing companies.
