Innovative tech solutions and information systems can collect information in real-time and deliver concrete business impact by feeding it back into performance dashboards. As such, your company's operational workflow can become more efficient, especially when information is collected at the source, sending employees to where they are most needed. This reduces costs and materials required and improves response times simultaneously.
In this article, we’ll discuss several examples of innovative tech solutions that, if adopted, will enhance the efficiency of your business operations.
GIS technology
GIS, which stands for Geographic Information System, combines a database's capacity and a map's power to let people create, manage, and analyze data, especially about location. Businesses can improve their operational efficiency when they use GIS software that:
- Improves mobility and field data collection
- Streamlines business processes and workflow
- Analyzes information quickly
- Uses data and analytics to improve services and decision-making
- Improves responsiveness using operational dashboards
- Provides meaningful information products.
Use case
Dublin Airport deployed GIS technology on management dashboards and mobile devices to improve efficiency. It helps staff cooperate to manage and maintain the airport's tens of thousands of assets worth more than $4 billion in total. The technology allows for sharing, collecting, and analyzing vast operational data.
Managing digital documents
Another innovative tech solution involves using digital management tools to streamline document processes. You can use the tools to store, share, and organize documents safely and quickly. The solution's search and indexing capabilities do away with the hassle of managing important paper documents manually. These include crucial documents like financial statements, loan applications, and credit reports.
Digital document management also offers version control and automated data entry. It provides a safe way to share documents with clients, coworkers, and partners. It helps reduce errors and ensures access to the latest version of any important document. It enables the setup of automated workflows that make sure the right people review the records.
Process mining
Process mining uses event log data to deliver actionable insight into processes, thereby optimizing them and improving operational efficiency. It provides the ability to identify new opportunities, such as automating deliveries, reducing lead times on line creation, and cutting association costs.
Process diagnostics
Process diagnostics uses event logs to reveal bottlenecks in short-time-span processes. They help remedy inefficient processes. Automated root cause analysis is a useful application of process diagnostics. This is where the software lists reasons for any deviation from the norm. Automated root cause analysis is a critical diagnostic tool today. It can explain why a company's goods packages are underweight or of subpar quality or why they are in different sizes and shapes when they shouldn't be. Process diagnostics can provide insight into major processes.
Automated underwriting software
Companies can use automated underwriting software for quick and accurate assessments of loan applications. This software leverages data and algorithms to collect, process, and analyze the information needed to decide on a loan application in far less time than it would take a person. It can help reduce the risks stemming from a loan application.
Robotic Process Automation (RPA)
RPA technology transfers tasks normally performed by people to robots. These are mundane and repetitive tasks that typically prevent humans from tending to higher-value ones. Businesses can use RPA to sidestep that challenge. It can enhance operational efficiency by reducing the likelihood of manual errors, speeding up task completion, ensuring cost-efficiency, starting workflows and processes on time, and saving money.
CRM software
Implementing Customer Relationship Management (CRM) software is an innovative way of managing and tracking interactions with customers in an organized and efficient way. Companies can use CRM systems to keep and monitor records of customer interactions such as emails, calls, and messages. This is possible in real time, which helps the business stay organized. Moreover, CRM systems can help businesses respond to inquiries quickly and accurately, make informed decisions about customer service, ensure high service quality, and more.
These systems can augment marketing efforts, too. They give businesses more profound insights into customer preferences and behavior and can help create more targeted campaigns to increase sales and engagement.
