Digital solutions are no longer optional--companies must embed a digital-first approach into every facet of the business if they expect to grow in today's hyper-competitive marketplace. That’s the main idea of our recent project, which provided some vital techniques for survival and growth of small and big companies in the digital age.
While growing pains can make or break a company, there are a number of digital solutions you can adopt that will make the expansion much easier. Why? Because companies that embed digital into their everyday operations are agiler than traditional businesses when it comes to managing change. This agility will come in handy when you need to make a last-minute pivot to handle the demands that come with any growth phase.
So, if you're going through growing pains (or are hoping to in the near future), here are four digital solutions you'll want to consider:
- Incorporate data into everyday decision-making
As your company grows and expands, it's important to keep a close eye on performance both internally and externally. And the best way to monitor this is by measuring and tracking data. If you want to start tracking data externally, consider implementing a customer relationship management tool and investing in analytics on your website, marketing campaigns, or apps.
- Ditch the paper
Growing a business puts a demand on resources, so you'll want to find ways to cut costs throughout the process. If you haven't done so already, now is the time to ditch the paper.
Whether it's by getting rid of paper contracts, enforcing a new policy on e-statements, or removing printers from the office, digital communications can save your company quite a bit of money. It will also dramatically streamline your processes and operations.
- Create an omni office environment
If you're outgrowing your current office space, then consider what it might take to create an omni office workspace for your employees.
While companies like IBM and Yahoo are no longer allowing employees to work remotely, a hybrid approach might be the best solution when it comes to creating an effective work-from-home policy. But no matter what you decide to do, enabling your employees to spend some time working from home can help keep overhead costs low, while potentially increasing productivity.
- Constantly monitor the latest technology trends
Can new technologies and innovations improve your company's productivity and increase its benefit? Maybe or maybe not, but if you are not at least aware of these trends, you will not be able to make informed decisions about which might be applicable to your company.
The latest technology trends could be the key to getting your company through a growth phase with ease. But if you don't know what's happening, then the opportunity to integrate this tech into your operations will never see the light of day.
If growth and expansion are on the horizon for your business, you'll want to make sure your company is digitally mature before you get too big to function. You can bet Amazon is taking full advantage of digital solutions as they expand their workforce and you can do so today by taking the above into account.