Within a year, businesses are expected to spend $2.3 trillion on digital transformation. Why the big push toward IT-related enhancements? The world has become more connected. Accordingly, consumers are demanding more freedom, mobility, and transparency from the companies they patronize.
No doubt about it: Aligning all your internal digital systems can help you modernize your organization. Yet it’s not the only strategy to become an industry leader in the 2020s. There are other ways to present your brand as contemporary and leading-edge to employees, candidates, and customers.
1. Get a handle on your data flow.
Whether you realize it or not, you have tons of data points that flow from place to place in your company. But are you optimizing your complex, ever-changing data pipelines? If not, you may be missing opportunities to improve efficiencies, minimize roadblocks, and reach ambitious goals.
Understanding the state of your data no matter where it is in the pipeline allows for you to make faster data-driven decisions that align with your business goals. When you have more control of your data, these decisions will be more confident, effective, and informed.
2. Automate your repetitive tasks.
Automation isn’t just for enterprise-level companies. Businesses of all sizes can gain the advantages that come when their workers can automate repeated tasks. For example, consider an employee who transfers client documentation by hand from one system to another. If this responsibility can be automated, the employee will have more free time to complete other to-dos.
Zapier’s research shows that team members appreciate the power and benefits of automation. Forty-four percent say that they’ve gained back precious minutes by automating certain tasks. Plus, you’re less likely to experience pitfalls related to human error.
3. Offer a variety of payment options.
How do you currently allow buyers to make purchases from your company? Chances are strong that you have a couple of payment methods. But have you considered all the different payment types that could appeal to your customer base?
Shoppers—especially those in the younger generation—have gotten accustomed to buying the items they need almost effortlessly. In other words, they’re demanding maximum payment convenience. Many want to be able to pay through a third-party app, like PayPal (News - Alert). Others want to be able to tap and go into physical stores. A few are even looking for buy-now, pay-later choices. You don’t have to serve up every payment possibility, of course. Nevertheless, you shouldn’t negate the importance of giving the public what it wants before your competitors do.
4. Limit your reliance on paper.
Perhaps you’ve already taken steps to move toward a more paperless office. Since the start of the pandemic in 2020, many companies have reduced their reliance on paper. Still, you may be clinging to paper documents such as invoices, contracts, or inventory slips.
Take a stroll through your workflows and determine where you’re still using paper. Then, ask yourself if you could ditch the paper without much hassle. For example, you might work with your human resources representative to update your employee handbook yearly. Having the handbook in a digital format makes it easy to upgrade and share. Plus, you don’t need to keep tossing outdated copies.
5. Offer employees freedom over their schedules.
Part of modern business life involves acknowledging and respecting that your employees have lives outside of work. Even if you’re not able to allow everyone on your team to work remotely, you can give them scheduling freedom. This shows that you’re treating them like professional adults whom you trust to juggle their responsibilities.
What this type of freedom looks like in your company will be unique to your processes and needs. Some businesses have moved to a shared calendar that shows where and when workers will be working each day. The calendar allows people to control their schedules yet still be available to their colleagues. As a result, employees feel empowered to manage their work-based and personal responsibilities. And that helps boost overall engagement, which is essential to retain talented people.
6. Put a premium on cybersecurity.
Everyone’s heard about at least one corporate data breach or ransomware attack over the past few years. Don’t assume that your small business isn’t a target for cybercriminals. Hackers would be happy to get their hands on information like your payroll accounts or clients’ credit cards. Verizon’s (News - Alert) statistics show that in 2019, 43% of cyber attacks happened to small entities. But you can make it very difficult for them to succeed by prioritizing cybersecurity.
What are some ways to beef up the security among your teams? First, conduct a risk assessment to determine areas for improvement. Next, limit employee access to systems based on need. (Many workers are able to see information that they don’t need.) Be sure to secure your network and WiFi (News - Alert) access, too. Finally, keep tabs on any places or situations that could become cybersecurity risks. A little vigilance can go a long way and keep your business out of hot water.
Modernizing your company isn’t something that you can afford to put off. The longer you wait, the more opportunity you give other businesses to swoop in and pick off your best customers or employees. So start now for rapid results that you can take to the bank.
