Over the last decade or so, new tools and technologies have completely revolutionized the commercial sector as we have testified tectonic shifts in Operational Cost & sales models in almost all industrial areas.
There is a common phenomenon that high sales and operation teams consistently achieve the target while maintaining the leads.
State-of-the-art tools and technologies have changed the way large corporate firms used to function. Tools and techniques are now the ultimate keys to their success.
Resorting to new technologies does not mean that you need to make some radical changes in your firm or lay off your employees to scale down the operational cost, the tiny innovative changes either in service, functionality, and product can give you edge over other market competitors.
A lot of companies have been benefited by adopting them. But still, there are hundreds of companies out there which are using traditional methods for sales & operations.
New modern technologies are often termed as a booster of business because they have played a significant role in the creation of a knowledge base that was previously accessible only by high tech companies.
But now these hi-tech tools and software are within reach of small firms as well. All the listed technologies have made a massive difference by cutting down operational cost and increase profitability.
- Machine Learning
- Artificial Intelligence
- Digital Marketing/ Sales
- Data analytics
- Data scaling
- Data Security
- Data cleansing
- Data Warehouses
Companies that have not got a deep pocket could also afford these and opt for a pricing model that suits their requirements.
It is not humanly possible to analyze the large bunch of client’s data even If it is likely will take years of time and a massive chain of trained workers. While on the other hand, we have plenty of data analytics tools which can perform the same task within a few minutes with utmost accuracy, for example, databases analytical are,
- POS Accuracy SQL
- Micro Focus Vertica
- Cloud tools
All these provide the hardware scalability to store and manage a considerable amount of data, and it also processes the data at the same time. And you can get all the features without spending thousands of dollars and does help you increase your productiveness and quicker decision making. All these efforts made towards advancements in technological lead to success.
Technologies, like mobile & email communication, are now an integral part of every company but it also depends upon the companies requirements and mottos,
To identify your requirements, you need to make a priority checklist, including
- What you need to achieve,
- What your strategic goals, what should be your tactic of marketing,
- What technology you need to regularize in your business processes,
- Now it comes down to cost how much you can spend in new technology installation, implementation training, and shipment of products other additional activities.
And if we can bear that Operational Cost, all these new technologies will surely improve the efficiency and the processes of operation.
It can be pretty challenging to advise any particular tools at Is all up to the company which tool you should opt for, and you can sense it by looking at the other examples and market competitors.
Sometimes it is better to be a follower than a leader because the ultimate goal of a business is to make their operational process efficient and to improve productivity but it should also be profitable, and low operational cost & inventories are always made business productive & successful.
Now let’s talk about the business which is in trend e-commerce retail, e-commerce is all about identifying the cost-cutting opportunities side by side improving shipments of goods. Technology can help you a lot to resolve this to an extent by identifying the shipment modes, service types, logistic planning,
- Storage management
- Relocation of hubs
- Monitoring of employees
- Vendor performance
- Predictable demand
- Matching the supply chain capabilities
For instance — Google Maps & GPS helps to improve the performance of shipment you can identify the various modes of transportation, and you can go for the best one.
There are several algorithms, automation tools, six-sigma, and all these things give you the edge in this competitiveness to match the market demand that can be sensed using Artificial Intelligence.
Drastically reducing the administrative Operational Cost is undoubtedly a daunting task, but takes heart. Start analyzing carefully, and you will find out that by adopting some of the new tools and stick with it, you will undoubtedly reap the benefits in the long term.
We have presented all the figures and facts, some of the new tools which are cost-effective, advance, and famous in the market today. So it is essential for a company to take lessons from other companies and proper that improves through multiple dimensions of business. You will always find that the ideas improve each time you do this because you will find new opportunities and realize the constraints of your earlier ideas.