Tech-enabled employees help ensure long-term small business success
Now more than ever, small businesses are under pressure to reduce operating costs, increase productivity, and improve customer experiences. Although no single solution can solve all the challenges that face a small business today, tech-enabled employees certainly offer a huge advantage; a team equipped with relevant digital technologies can help future-proof your company and help you and stand out from the competition.
The Basic Benefits of Digital Enablement
Equipping your staff with the right tools can give your company an advantage over less digitally connected competitors. In a recent report published by Deloitte, U.S. small businesses that utilized advanced digital technologies earned two times as much revenue per employee, experienced revenue growth up to four times higher, and were almost three times as likely to have created new jobs.
Plus, digital tools can help you attract and retain valuable team members. People want to work for companies that allow their staff to use technologies they’re accustomed to in their personal lives, and who ask for input before selecting new systems. By connecting teams in-person and online, business leaders create an employee-friendly, inclusive workplace designed to satisfy their staff and their customers.
Nearly all entrepreneurs use some form of technology to run their businesses. But desktop computers and software programs are only a tiny piece of the technology puzzle. Today, companies turn to the cloud to deliver the experiences employees and customers want. According to the Small Business & Entrepreneur Council, top cloud computing activities include:
- Cloud storage or backup
- Cloud-hosted email, web and applications
- Cloud-based payroll systems
Additionally, it was reported that more than one-third of all small businesses use the cloud for:
- Communication and collaboration
- Video conferencing and webinar services
- Invoicing, sales, and expense tracking
- Customer Relationship Management (CRM) Activities
Here are six key ways tech-enabled employees can help make a difference for the future of your business.
Customers Want Convenient Scheduling Options
It’s estimated that 60 percent of all customer interactions now take place on- line, which means on-line scheduling is vital to the customer experience.
Prospective customers and clients need easy and quick ways to set up meetings. They don’t want to wait for your organization to respond via email or phone with available dates and times. With cloud-based meeting, planning, and scheduling software, prospects can view your available meeting times and choose the option that works for them.
Integrated scheduling tools automatically put new appointments in individual or shared calendars, so every team member stays updated. Microsoft 365 supports shared calendars and Microsoft Teams lets supervisors create, update, and manage schedules. Plus, employees can use convenient in-app tools to schedule a meeting while chatting with clients online.
Hybrid and Remote Workforces are Here to Stay
67% of small business respondents to a recent SMB Group survey said they have established or expanded their work from home programs, while 57% report increasing their budget to equip work-from-home employees. Decreasing overhead expenses and improve employee morale were the top two reasons stated for this shift.
Regardless of where your team works, cloud software lets them access the same tools and information used by in-house employees. Furthermore, digital technologies support contract workers who assist companies with non-core business tasks, such as accounting or marketing. This same SMB Group survey also found that:
- Two in five small businesses use cloud-based payroll processing
- 28% utilize cloud tools for e-commerce support
- Three in ten leverage the cloud for accounting purposes
- 22% rely on cloud-enabled customer engagement solutions
Whether your company embraces a fully remote or a hybrid workforce, technology helps get work done. Tech-enabled employees can communicate and collaborate with co-workers and clients from anywhere. For example, you can add a client to Microsoft Teams to work together in real-time on documents or presentations. In addition, you can forward calls to remote employees using your Voice over Internet Protocol (VoIP) services.
Increase Office and Business Efficiencies
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Small businesses can gain a huge competitive advantage by automating many back-office workflows and reducing error-prone manual data entry. Cloud-based tools like customer relationship management (CRM) systems and project management platforms integrate with other software. Integrations ensure that all teams and departments have access to updated information. Typically, the most common benefits of automating tasks include:
- Reducing manual data entry
- Improving lead management
- Increased efficiencies in creating and organizing documents
- Enhanced inventory management and distribution
Improve Sales Performance
Today’s sales teams need access to every business resource, both in and out of the office. Moreover, they need to communicate with marketing and customer service teams to stay on top of the latest data about prospective clients. A cloud-based resources hub is a central location that holds updated versions of sales materials, price sheets, and lead nurturing content.
With remote access, sales teams can customize their presentations on the spot and tailor them to the sales conversation. Ease of personalization offers many advantages, but even more impressive is the increased potential for closing sales; a report by Nucleus Research noted that 65% of companies using mobile CRM achieve their sales quotas versus 22% of those using non-cloud-based tools.
An Inclusive Culture Can Help Solve Staffing Problems
Simply put, tech enables employees with various abilities to thrive in your workplace. Promoting your organization as accessible and inclusive can help you attract and retain employees while increasing your revenue and profit.
Accenture recently reported that companies who “stood out for leadership in areas specific to disability employment and inclusion achieved—on average—28% higher revenue, double the net income, and 30% higher economic profit margins” over the four-year survey period.
Tech-enabled employees can use VoIP phone systems to transcribe meetings in real-time and support voicemail-to-email. Moreover, Microsoft offers accessibility features that check documents and highlight issues affecting comprehension, such as missing descriptive hyperlinks. Assistive technology is just one more way to differentiate your business.
Staying Prepared for Disruptions
In 2020 when our country shut-down due to the Covid pandemic, some companies couldn’t send out timely paychecks because the staff wasn’t able to access company software. Others lost access to customer data during shutdowns. It’s a fact that small businesses who were already utilizing cloud applications were much more likely to weather the COVID-19 crisis.
While the pandemic may have been a once-in-a-lifetime event, there’s a good chance more disruptions are on the way. These might be weather-related, or a cybersecurity event that halts workplace activities.
Switching workflows to the cloud can increase uptime and allow companies to manage business-critical processes from anywhere. Cloud services help small businesses by providing automated backup programs and disaster recovery services. Plus, end-to-end security programs can assist small businesses with keeping onsite and mobile devices secure.
Small businesses need to leverage every available advantage. Fortunately, cloud-enabled technology gives your employees the tools to do their job from any location. By working towards digital transformation, companies will see a return on their investment, leading to increased revenue, reduced costs, and better overall employee and customer satisfaction.
Cox Business can help your company plan and implement a tech-enabled business strategy with Cox Business Cloud, Microsoft 365, and Microsoft Teams solutions. You’ll find our tailored approach to technology fits the needs of any size and type of business, and are affordable, flexible, and scalable. If you’re interested in learning more, please drop me an email and I’ll connect you with a Cox Business technology consultant: [email protected]. Additional information can be found at www.coxbusiness.com.
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