Technology has led to processes being simplified and in some cases, automated. Perhaps the biggest change in technology in recent times has been the internet. And According to IBISWorld, almost 30% of business in the US is now conducted online.
But, even companies that are more heavily involved in manufacturing, or shipping, will have an IT strategy and other technologies on-site. Employees have found their daily tasks simplified through the use of software, and this has led to streamlined procedures and increased efficiency.
The IT market has continued to grow despite the pandemic, and more recent world events involving Russia and Ukraine. Even with inflation and world troubles, the IT market managed to grow by an impressive rate of 8.2% between 2022 and 2023. This resulted in the global IT sector being worth $8.85 trillion by 2023.
All technology can be leveraged to help businesses expand, but before you can think about growth, you will need proper IT support.
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The use of IT-managed services
Technology can be used to help your business grow, but only if it is managed correctly. Many global businesses have made mistakes when incorporating new technology. For instance, Hershey’s, Nike, and Revlon, all had disastrous ERP implementations which cost up to $100 million each from lost sales and other consequences.
Even smaller businesses than Nike can gain from using IT-managed service providers. Searching for IT support Phoenix will give you a choice of MSPs that can help improve your network, systems, and cybersecurity. When a good IT MSP is chosen, it may help your business to grow through the proper implementation of technology.
How can technology help your business grow?
Software and hardware can be introduced to businesses to assist in many ways. Cross-departmental systems allow data to be shared which results in more efficient processes, and productivity.
Technology can help to improve customer and employee satisfaction, reduce bottlenecks, help generate leads, improve reports and data analysis, and increase productivity in different departments.
All these areas can help a business to save money, increase profits, and expand. For example, warehouse efficiency can be improved through the use of a WMS, and technology such as RFID to track products. Enterprise resource planning is another way to make processes simpler, and allow departments to communicate easily with each other.
Installation of ERM and CRM
Around 78% of businesses are using some form of ERP consultant now. This is reflected in the market size and its growth. The global ERP sector was worth $39 billion in 2019 but is expected to grow to $86 billion in the next 4 years.
ERPs, and CRMs, or customer relationship management systems, improve different areas of a business. And when implemented correctly will allow a company the chance to improve numerous processes to become more efficient.
CRMs are aimed solely at improving customer services, increasing retention, and generating leads. An ERP, however, can incorporate CRM aspects but also spread further through a business to increase transparency and allow real-time data analysis. Anyone with a good ERP system can spot bottlenecks and make data-driven decisions in real-time. Both of which lead to increased profits and growth.
Cyber security and disaster recovery
Using MSPs and modern technology, you can avoid some of the problems associated with poor IT infrastructure. IT support can help your business to set up a disaster recovery plan and upgrade your cyber security. This will help you to have improved IT resilience.
Your IT infrastructure will be more resilient
Disastrous events can occur to a business through no fault of their own, but some can be avoided. If you have downtime you could lose customers, or have your reputation damaged.
Natural disasters, ransomware attacks, and even planned changes such as system updates can impact your business. IT resilience refers to how your business keeps running during one of these incidents, and how it keeps data secure.
An MSP can help your business’s IT resilience by ensuring cyber threats are swiftly resolved, and systems run with maximum uptime.
Cloud services
A popular area of modern technology for businesses is cloud services. Although software as a service is becoming popular, it is storage that is most commonly used by businesses of all sizes, and individuals too.
And, the advantages of cloud storage are becoming clear to all manner of firms. Some research has shown that about 44% of small businesses are utilizing cloud services including hosting now.
One of the advantages of using the cloud is that you can grow without worrying about the cost of extra servers or how to scale your IT infrastructure. Cloud services can grow with you, without you needing to purchase servers or rent extra space.
Summary
Whatever technology you use in your business, it will only help you to grow if it is researched, tested, and implemented properly. IT support is essential in selecting the right hardware and software to link departments, and improve all the processes involved in your business.
With the proper IT support comes more secure systems and networks, and less downtime. This will lead to an increase in profits and lower costs, through more efficiency, and increased productivity.