Keeping up with changing markets and evolving to stay ahead of your competitors, as well as shifting expectations from users, can be difficult if you do not embrace the tools available to you.
You need to embrace digital transformation to promote sustainable business growth through technology. But for many, the prospect of change can feel daunting, especially if you’ve been relying on the same tools for quite a while and they seem to be working for you.
This is where finding the right tech partner, like Trio, comes in.
At Trio, we provide access to some of the best software developers on the market, so you can rest easy knowing that you aren’t just getting some one-size-fits-all solution, but rather something tailored specifically to your company.
What could be better? Well, since you aren’t paying for a bunch of features that you’ll never use, you not only minimize your up-front cost, but also your risk.
This skilled, custom development, combined with the fact that our developers are often specialists in niche fields like AI, automation, and fintech, means you are setting yourself up for future success when you hire through our outsourcing and staff augmentation models.
But, before you jump straight into hiring, let’s take a look at everything you need to know about leveraging technology for business growth, from the basics of digital information to building complex, scalable systems.
Why is Technology Critical for Business Growth Today?
Everyone is using technology to grow their business as fast and as efficiently as possible. It has become the foundation of how modern businesses operate, which means it is essential for you to be able to compete and eventually scale your own business.
Most recently, many businesses have been focused on promoting business growth through technology in the form of automation. According to Mordor Intelligence, Process Automation is expected to reach a market value of $154.13 billion by 2030.
We’ve also seen a lot of activity in the use of AI to produce data-driven insights.
While there are many different ways you could use technology, all these tools will serve a similar purpose:
- Increasing efficiency
- Increasing customer satisfaction
- Making it easier to adapt
- Allowing you to expand
However, despite the many reasons for using technology, many businesses are still delaying the implementation of new systems. Usually, they have fears related to how complex the integration process is going to be, or are unsure of their abilities to utilize these tools.
That’s where Trio comes in. Our developers can help you navigate the project from start to finish. We can even put together dedicated teams with their own management structures and a team lead adept at communicating with those who aren’t necessarily in the tech sector.
Don’t fall behind because you are worried. Tech debt is difficult to catch up on.
What is Digital Transformation?
Digital transformation is the term used to describe integrating technology into every possible part of your business, and in doing so, changing the way you operate and provide value to your customers.
A lot of people think it’s just about adopting new tools to make sure you stay efficient, but it’s more about transforming your business model so that you can take advantage of any innovations fully and prioritize your business growth through technology.
Research from the MIT Initiative on the Digital Economy shows that companies with strong digital capabilities are 26% more profitable than their competitors.
Successful digital transformation can affect your business’s new product launches, can help you personalize marketing campaigns, and even speed up internal workflows. All of these directly affect your revenue.
But technology alone isn’t going to guarantee successful digital transformation. Instead, you need to focus on how you are using that technology to create more value.
Core Technologies That Drive Business Growth
By now, you must be wondering how you could potentially integrate technology into the various aspects of your business in an effort to promote growth. The opportunities are endless, but we have seen four incredibly impactful technologies driving business growth over and over again:
- AI and Automation
- Business Intelligence and Analytics
- Cloud Infrastructure
- E-commerce Enhancements
AI and Automation
Since the rise of platforms like ChatGPT, businesses have used AI tools to reduce costs, increase efficiency, and allow their employees to work on things that will drive innovation.
From using generative AI for creating personalized marketing content, designing new products, and supporting documentation, to complex automation that handles all of your repetitive and error-prone tasks like data entry and invoice processing, AI could save each employee hours on a daily basis.
You could even use a combination of generative AI and automation in the form of chatbots, reducing the need for man-power and resources in that sector while at the same time improving the overall customer experience.
It isn’t difficult to see why PwC estimates that AI could contribute up to $15.7 trillion to the global economy by 2030, mainly through increased productivity and automation.
We help countless non-tech businesses adopt AI in a way that improves their daily operations while still being easy to use.
Business Intelligence and Analytics
Business Intelligence (BI) tools help businesses turn data into actionable insights. Why is this so important? Anyone who has a business will know that more accurate data leads to smarter, more informed decisions. BI tools not only increase data accuracy and visualization, but are also far quicker than conventional analysis.
Real-time analytics tools are also very popular for everything from sales and marketing to supply chains and customer trends. According to McKinsey, research shows that data-driven organizations are 23 times more likely to acquire customers and 19 times more likely to be profitable.
Some famous examples of existing BI tools and solutions include Google Analytics, Tableau, Microsoft Power BI, Google Data Studio, and Splunk.
These tools are often affordable and scalable, allowing small businesses to compete with larger companies by providing insights to help them carry out business operations more efficiently, understand customers, innovate, and grow.
As you grow, you might find that you need a more custom solution. At Trio, we not only help you integrate existing tools efficiently but also help you create a scalable framework designed to meet all of your needs.
Cloud Infrastructure
Cloud computing offers scalable and flexible solutions for e-commerce businesses that don’t necessarily have limitless physical infrastructure.
By moving to the cloud, your business can streamline operations, reduce IT costs, and ensure its platforms can handle peak traffic without issues. This means you are never leaving any money on the table.
And as an added bonus, most automation tools are cloud-based. Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform are some popular options that offer a range of tools, including automation as mentioned above.
E-Commerce Enhancements
We’ve already briefly mentioned how AI is used in relation to marketing insights and analytics. However, there are many other ways that you can use innovative technologies across the industry.
Engaging customers on e-commerce platforms is vital for driving sales and growth.
In order to do this, your goals should be creating a seamless user experience, offering personalized recommendations, and ensuring the checkout process is as simple as possible.
Leveraging AI and machine learning can optimize these aspects, leading to higher conversion rates.
You should also consider the need for cybersecurity to avoid issues that may result in your clients losing trust in your business or being hesitant to share their banking details.
Although security doesn’t immediately affect what customers buy, it can lead to referrals and repeat business.
An omnichannel approach ensures that your customers have a consistent experience across all touchpoints. These can include things like when they’re shopping online, in-store, or via mobile apps.
Integrating all these channels through a seamless tech platform allows your company to engage with customers wherever they are, improving satisfaction and driving growth.
Making sure that you produce trustworthy tech solutions that are consistent also helps you build your brand.
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How to Choose the Right Tech for Your Business
Scaling a business requires choosing the right technology solutions that align with your growth goals.
This might include upgrading your CRM system, investing in new marketing automation tools, or adopting advanced analytics platforms.
However, the reality is that not every tool will fit every business. You need to consider your requirements both now and in the near future to determine what will be best for your company.
If you do not have much of a background in technology, that can be difficult.
You need to start by identifying bottlenecks or where you’re missing opportunities, then evaluate how potential solutions could integrate with the systems you already have. Then there’s cost, usability, and scalability to consider.
If you’re unsure of where to start, a trusted tech partner can be invaluable.
Trio specializes in helping non-tech businesses identify and implement the right technologies for their specific needs through our complete tech management.
We help you from the initial evaluation to the tool selection and implementation, sometimes even building custom solutions. After all, your success is our success.
If you are interested in promoting business growth through technology, reach out to us for a free consultation.
