• 15 Jan 2018
  • By anshul-choubey
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New Year Resolutions for Modern Businesses

Last year, with the new GST roll-out, so many companies across diverse industries were busy getting to know about this new concept, how it would affect their business and, what changes were needed to implement it.

A year before that, demonization struck us all by surprise. These historic events took place only to ensure transparency in the system so that direct benefits are passed on to the consumers and there is no corruption.

What can you do to ensure that your business is ready for the fast-evolving marketplace?

Let’s get smart this year to fulfil the demands of our technology-savvy consumers. Among the many things which you may be planning to start this year, how about taking a step back to review, maintain, and upgrade what you already possess?

Listed here are 8 New Year resolutions to get your business ready for tomorrow

  1. Acquire knowledge about latest in technology in your industry

Understand the needs of your business, and findadequate technology solutions to meet them. Consumers are becoming more and more tech savvy and they are experiencing new tech solutions at other retail stores. It’s imperative that you are up to speed to ensure delightful customer experience and maximum customer retention.

  1. Find solutions to simplify complex, manual tasks

Look for redundant, manual tasks which occupy most of your staff’s time. Identify ways to automate or simplify them using technology. It will only go a long way in ensuring efficiency and optimize cost.

  1. Encourage cashless transactions

Modern technology solutions enable cashless transfers easily to help consumers save time.

We can eliminate the issues of cash handling or difficult-to-track cash transactions, shorten long queues in retail checkouts, increase the buying power of customers, and so much more.

It will not be far when a customer will stop carrying cash altogether. Looks like we are heading to what is called cashless stores very soon.

  1. Sign-up for Annual Maintenance

If your business is heavily dependent on POS and other techsystems you must not refrain to sign-up for an annual maintenance contracts. Not doing so will result in high recovery cost when there is a breakdown or crisis.
When POS and other tech systems fail, they bring irreplaceable loss to company reputation, leaving customers frustrated and a dip in productivity.

5. Inspect and ensure proper working of technology hardware/systems

This year, make maintenance your key focus area to ensure the smooth and efficient running of business operations and its longevity.

  • Keep your systems in a well-ventilated space
  • Keep your system clean from any dust or dirt
  • Inspect for cleanliness around the area where your systems are placed
  • Ensure proper training for staff members using the system
  • Address immediately to any malfunction or repair needed in the system
  • Install latest upgraded software version to your system
  1. Use SAAS and cloud-based applications
    Adopt easy-to-use and low-cost cloud-based applications to start a new website, enable digital marketing and collaborate with a team online for productivity and future growth.

 

  1. Go mobile -Your customers are using smartphones and tablets, surf social media sites for new trends, and do online purchasing. Find your customer and reach out to them using a mobile platform. Build your own mobile application to serve your customers faster and easier.
  1. Real-time stock analytics
    Monitor and manage inventory on daily basis using latest POS technology. Real-time data on stocks will help in planning inventory better.

 

The Bottom-line:

No doubt, technology is boon but considering how damaging downtime can be even with the best machine or software deployed, regular maintenance and upgrades is mandatory. The challenge this year will be to adopt/upgrade to high-performing technology (mobile, web, POS) to reach out to a wider audience base and provide exceptional customer service.

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