In an increasingly dynamic market, it is important for managers to seek alternatives that increase the competitiveness of their companies. Basically, managers must invest in technology in their companies to improve staff productivity, reduce costs and increase control over activities.
This is exceptionally important in the current economic crisis scenario that has been created by the coronavirus pandemic, as these modernities will contribute to the recovery of business growth.
Trends that can be implemented into corporate routines are constantly emerging , but not all of them will guarantee the benefits explained. Do you want to know what the best technologies are in companies today and their impact on business? We list and explain the 6 main types of technology in companies in this reading!
1. Management software
Enterprise resource planning software (ERPs) are computer programs that assist in the management of an organization. They automate operational processes, prepare management reports and centralize all important information for decision-making.
This is very important technology for all sizes of companies—small, medium, and large—and for sectors because it represents a very powerful tool if you want to remain competitive on the market.
There have been developed various management systems in response to the particular needs of each one of the areas of the company. For instance, CRM software is designed to enhance customer experiences.
These two systems explained below will be of great value to your business if your business has to deal with corporate travel or has to manage a higher number of reimbursement requests.
Corporate Travel Management
Automates travel bookings according to your policy and makes it easier to control services, expenses and budgets, maximizing savings. See some of its features:
- notification of those responsible with travel details;
- creation and customization of travel policies;
- control of unused tickets;
- ticket rebookings and refunds;
- black list of destinations (places to be avoided);
- control of expenses and budget;
- among others .
Corporate expense management
Expense management aims to bring more organization to accounts and ensure compliance with spending policies. Examples of its features are:
- expense request control;
- provision of company card expenses;
- allocation of expenses by project or cost center;
- workflow configuration;
- and more .
It is important to note that it is important for the system provider to provide the API and all documentation so that you can integrate with other technologies. This allows the company’s different software to exchange data automatically, which avoids the need to open several platforms simultaneously or to manually transfer information between them.
Furthermore, the most advanced ERPs have versions for mobile devices (such as smartphones or tablets), which allows employees and managers to use their resources outside the company – while traveling, for example.
2. Big Data
Big Data consists of storing a huge volume of different information and the ability to manage this data quickly. In practice, a system collects data about the company, its customers or users from various sources and generates relevant insights. The manager knows the desires, needs and behavior of his audience and can implement changes to better satisfy them.
Many leading companies in their markets use Big Data in their corporate routines. For example, retail giant Amazon makes product recommendations based on your most recent searches or purchases. Streaming services such as Netflix and Spotify also make video and music recommendations, respectively.
This technology can be used in other ways in companies to better serve their customers. The airline Delta discovered that travelers are very concerned about their luggage during their trips. With this information, it developed a feature that allows customers to track their luggage.
3. Gamification
Gamification, or gamification , consists of the use of game mechanics to encourage greater employee productivity, carry out training, engage staff, apply training or optimize the work routine.
The responsible manager develops a points system in which employees are rewarded when they excel or accumulate certain points. It is necessary to use technology to track each participant’s progress and count their points.
There are many ways to implement gamification, and you can design the one that best suits your business culture. Some examples of systems are:
- there is a ranking in which employees with the most points are rewarded;
- you must reach a minimum number of points to receive a prize;
- Two or more teams compete in a dynamic, and the winners win rewards.
Remember that gamification must be fair to staff, have very clear goals and rewards that are relevant to staff.
4. Cloud computing
Cloud computing is a service in which the client uses third-party servers, networks, databases and software to perform their activities. It’s possible that you’ve also heard of “cloud storage.” Though it is restricted to digital file storage, this service is comparable to the last one.
Imagine that you purchase a cost management system that offers cloud services. You can use all of its features without having to install any software on your computer. All you need is for users to have access to the internet.
This generates significant savings for companies, as there is no need to invest in a large and extensive hardware infrastructure, perform maintenance or upgrade parts, and the organization’s space will be optimized.
5. e-Learning
This is a distance learning method that uses the internet to provide content such as videos, video lessons, animations, tutorials, online tests and more. This is very advantageous for companies that need to train or qualify their employees, since they will not need to travel to a physical establishment to learn something new.
Another advantage is that your employees will have access to courses that are not available in their location – which usually happens when it comes to something new on the market.
6. Digital payment system
Making payments digitally is becoming increasingly common among individuals around the world, but this is a trend that can also be taken advantage of by companies.
By automating payments to suppliers, partners or your employees, you can increase the agility of the process, avoid payment errors and improve security. Digital payments also expand the payment methods for consumers, such as debit or credit cards, bank slips, financial applications, among others.