Using Technology
Technology can improve performance by speeding up and automating routine procedures. It can also free staff time for more productive and creative work and reduce the possibility of human error. Payments can be automated by using direct banking services such as BACS. You may be able to outsource routine work and integrate the results into your in-house systems - for example, you might outsource bookkeeping but retain credit control in-house.
The internet has simplified and speeded up communications. Files can be sent as attachments to emails. However, you should be aware that email is an insecure medium, and confidential information should only be exchanged through secure channels such as company intranets or through password-protected websites.
Technology can be used as a tool to achieve better customer relations by using customer relationship management (CRM) software.
It can also create more cost-efficient business processes. For example, automated stock control can be used to reduce or eliminate expensive inventories. It allows just-in-time ordering with automated re-ordering, speeds up the production process so customers get your products sooner, reduces costs, and helps to balance the books.
Technology can incorporate extensive reporting and feedback facilities making it easier to monitor Key Performance Indicators (KPIs).
Your company website can report a great deal of useful information, including:
- how much time customers spend on the site
- their "journey" through the site
- who they are
- the most and least popular pages
- how many visitors become customers
If you use an external web hosting company, ask what statistics are available. If you host your website in-house, your web server vendor will be able to advise you on this.
Your local Business Link will also be able to offer advice on finding innovative ways to use technology to benefit your business.