Companies like Uber are today’s poster child of a modern 21st century company, beating old and well-entrenched monopolies with technology. The ridesharing company had beaten the age-old taxi industry by offering an easy way to get a vehicle through smartphones and by providing a rating system that makes drivers accountable for their actions. Not surprisingly, all companies want to be like Uber, a forward-thinking company that’s constantly keeping up with the times and with a pulse on all areas of their organization. So where do you start? Check out four effective steps to modernizing your business below.
Take Advantage of the Cloud: Many people today still think of the cloud as a buzzword related to online music or photo storage. While remote file storage still remains a popular consumer offering, many businesses have started to depend on it as well. A number of digital assets and applications are now being hosted in the cloud where they are easily accessible. Adobe recognized a business opportunity and moved their creative suite products like Photoshop and InDesign to the cloud where they can be accessed via a monthly subscription.
Use ERP Applications to Assist in Business Processes: Enterprise resource planning software or ERP is a set of applications that integrate various components of a company. It also enables data between different departments to be organized and shared, allowing them to act accordingly. If manufacturing sees that certain raw materials are running low in the warehouse, for example, they can order more of them to keep production going. Business executives, as another example, can make informed decisions regarding the direction they wish to bring a company with available data from sales, accounting and other different departments. ERP applications offered by companies like Kenandyare also available in the cloud, eliminating any need for expensive IT hardware or additional staffing to support such infrastructure.
Invest in Data Analytics: The days of running a company on intuition and instinct are slowly coming to an end. Today, big data is influencing most of the decisions made within a company. Data regarding last year’s sales figures can let companies know what products they can cut and what products they can develop further and sell. Marketing departments can keep records of customer behavior and interactions to determine how to reach out to them effectively.
Beef Up Digital Security: Hackers infiltrating digital systems and stealing you’re your customer credit card details are a constant threat companies face in today’s business world.Look no further than the Ashley Madison scandal to understand the disastrous fallout that can occur after such a break in. Securing your digital systems and assets should always be a top priority. Unfortunately, this is not something you can upgrade once and then forget. Hackers are always coming up with new and novel ways to get through the toughest digitalsecurity systems. Think of it like an arms race in which both sides keep putting out bigger and more powerful weapons.
The process of modernization is a never-ending one. While the advice given in this article provides a good foundation for a company to modernize, it doesn’t stop there. Always remember, the taxi industry was comfortable enough to do nothing different all those years until Uber up-ended the entire system. Don’t make that same mistake with your business’s niche by taking the proper steps to modernize today.