Welcome to the 2020s! In this post we look at 5 key areas for success that you must master to survive in the next decade. It’s an exciting time as we embark on a new decade, anticipating what changes the next 10 years will bring to society, the marketplace and the world at large. Futurists and visionaries all have their predictions and ideas of what the next decade will look like, based on projections of current trends, concepts, and new discoveries.
What is your business doing to get ready for 2020 and the next decade? Taking some time to reflect on what the last 10 years have brought your company and deciding where you’d like to be moving forward can be considered both important and vital to your business success and survival. What we can all be sure of is the next decade will bring lots of change. And those changes will bring new opportunities. What those opportunities will be and how your business embraces those opportunities can determine the success of your business.
5 Key Areas For Success
To help you stay abreast of new changes and opportunities we’ve identified 5 key areas for success to stay competitive as a business. By planning out and deciding how to incorporate these as goals in your company’s strategy and plans over the next year, you can be sure to keep moving forward – the direction you want to be heading!
“The secret of change is to focus all of your energy, not on fighting the old, but on building the new.”
- Business Automation
Every company knows the importance of allocating resources properly to ensure efficient and cost-effective workflows. Having your team working on critical and key assignments rather than repetitive, time-consuming, or labor-intensive tasks is possible with developing business automation. The main benefits of incorporating business automation into key processes include cost savings, increased productivity, continuous resource availability, improved quality and reliability, and enhanced performance.
Incorporating new technology and incorporating business automation won’t mean loss of jobs, but rather new and greater responsibilities with better use of your team’s talent.
2. Artificial Intelligence
The new buzz word or ‘AI’ as it’s often called, is here to stay whether we realize it or like it. In fact, it’s already present in the functionality of products and systems you use such as Amazon, Netflix, Siri, Alexa and Tesla which are using machine-learning technology to predict your needs, likes, and behavior. AI software works to convert reams of data into knowledge and predictive analytics. This is a type of analysis that uses machine learning and algorithms to analyze historical and current data and make predictions of future outcomes.
The objective of incorporating AI in your business is ultimately to gain the benefits of enhancing your customer experience while also reducing human error, and saving time and money through automation of processes. Here’s a good article on how AI can help a small business: http://bit.ly/2RIFzbD
Innovation means creating new products, solutions and finding better ways of doing things and brings improvements to your company, clients, and employees. The benefits that innovation brings to a business can include:
- Greater Sales and Investments
- Market Share Growth
- Enhanced Efficiency
- Improved Customer and Employee Satisfaction
- Long term survival
A marker of positive change, innovation should be an ever-present goal for each company, ideally comprised of both short-term and long-term projects.
4. Customer Experience
We all have examples of memorable customer experiences, good and bad. The importance of focusing on building and improving your customer experience over the next decade is critical as it will likely be affected by new and expanded customer expectations. How your customers think of your brand and talk about it through every step of the customer journey is important. The platforms, environments and multiple touchpoints of your customer experience shouldn’t be overlooked as they work together holistically to support your brand image and customer loyalty.
5. Data Security
Data security should always be an area of focus for each company and can have great implications for those who lack the resources and knowledge to manage data breach risks.
Reasons your company should invest in data security include:
- Being the target of an automated cyber attack is a real risk that you need to protect yourself against. These automated bot attacks are set up to divert your security team in order to infiltrate your systems.
- Data breaches can really hurt your company’s reputation. By putting your customer’s data at risk you risk your own credibility and take years for you to recover your clients’ trust.
- Data breaches will cost you. Expenditures after a data breach include the cost of a fine, disruption of your business workflow and the extra cost of restoring your company data and network safety.
Although it may seem overwhelming or costly to allocate the time and effort needed to develop all the areas we’ve mentioned such as business automation, artificial intelligence, innovation, customer experience, and data security, there are many ways to incorporate these elements simultaneously into your current business plans and goals. Getting the right team members to support and implement these goals is key to giving you a competitive edge over the next decade.
Partnering with us can help you:
- Meet the challenges of the new decade
- Get the best tech expertise
- Stay on budget
- Reduce the time and hassle of recruiting and employing Internally
- Let’s you stay focused on your business goals!
Ask Us How Outsourcing Your Tech Team Can Keep You Competitive
The right tech team is within reach!
We can help you:
- improve efficiency and automate processes that are completely or partially manual.
- build a new application for your company even if you’ve never done it before or unsure of the best way of doing it.
- minimize the risk and maximize the success factors of your projects.
We are Kary Tech Solutions. A Canadian company that’s dedicated to helping other Canadian companies achieve their goals.
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