As the business landscape evolves, companies in all industries are putting the bulk of their efforts into meeting new customer expectations. But delivering superior customer experiences and outperforming competitors is no easy task. That’s why companies big and small need the help of digital technology to survive and thrive in today’s global marketplace.
How can digital technology help my business?
Today’s digital customers want speed and convenience and won’t settle for anything less. Therefore, companies must find efficient ways to deliver effortless experiences to their customers without compromising profitability. Here’s how digital technology can help you do just that.
Digital technology helps you save time
By automating time-consuming, repetitive tasks with the help of digital solutions, your employees can free up valuable time. All the hours spent on dull administrative tasks can instead be used to deliver more value to customers and grow the business.
What’s more, automation tools minimize the risk of human errors by following the same pre-defined rules every time they carry out a process.
Digital technology increases employee satisfaction
Besides increasing productivity, digital tools make life easier for your employees. With tedious tasks off their plates, employees can focus on work that makes them feel challenged, engaged, and happy.
Satisfied employees are essential to the success of every organization. Therefore, business owners shouldn’t burden their staff with energy-draining tasks that prevent them from realizing their true potential. Instead, they should delegate these tasks to automation tools.
Digital technology boosts customer experience
Digital tools make it easier for you to deliver exceptional customer experiences and keep your clients happy.
As mentioned before, convenience and speed are a must-have for consumers nowadays. Digital technologies allow customers to get what they want almost instantaneously and with minimal effort. For example, someone can order a dress online and get it delivered to their doorstep in less than 24 hours. Or sign a business contract digitally on their phone, from anywhere, at any time.
Additionally, data analytics provides you with valuable insights that you can use to improve the customer journey and experience.
By leveraging digital technology, businesses can also:
- create new revenue streams
- enhance security and compliance
- cut down costs
- reduce their environmental footprint
- make processes more scalable
- improve collaboration, accessibility, and transparency
What are examples of business processes that you can streamline with digital technology?
Slow and repetitive tasks can be simplified with the help of digital technology. Below are some examples of processes that you can digitalize to improve efficiency in your business.
Accounting and finance processes
Digital accounting systems automate manual processes so that finance departments can work more efficiently. With digital tools, accountants can tap into real-time data that helps them identify challenges, understand trends, and make more informed business decisions.
Bookkeeping, financial reporting, budgeting, accounts payable & receivable, and reporting are examples of processes that finance departments can streamline with the help of digital technology.
Not only is digital marketing cheaper than traditional advertising, but it provides marketers with a large pool of potential customers that transcends physical borders. Besides, digital marketing tools allow you to target specific audiences, thus ensuring that your ads are shown to the most relevant people.
Here’s what marketers should do to succeed in the digital age:
- establish an online presence (e.g., website, social media pages, review platforms, etc.)
- promote their business online via ads on search engines, social media, and other digital channels
- create high-quality, shareable content
- run email campaigns
- use marketing automation tools
- track results and continuously optimize content, ads, and campaigns based on data
Digital tools like CRMs can improve your sales team’s performance and help them build stronger relationships with customers. All client information is easily accessible on one platform, which leads to better customer knowledge and anticipation of needs.
Digital solutions also facilitate communication with customers and ensure that client data is always protected.
HR departments can leverage digital tools to eliminate paper-based processes and attract and retain top talent. Most HR processes, from recruitment and onboarding to performance appraisal, can easily be automated. This frees up time for HR teams to focus on improving employee engagement and retention.
Customer support processes
The digitalization of customer support processes leads to increased customer satisfaction by decreasing response times and helping customers help themselves.
Knowledge bases, video tutorials, and webinars are just a few examples of tools that customer support teams can rely on to provide clients with the information they need. When creating video tutorials or webinars, be sure to use video editing software to create a polished and professional presentation.
Dedicated customer service solutions make it easier for you to answer customer inquiries and provide them with the assistance they need. They also allow the client to contact you via multiple channels, thus improving convenience.
What digital tools should I implement in my business?
When it comes to digital technology, one size doesn’t fit all. Hence, you need to carefully assess the various tools on the market and only implement those that can help your business succeed.
If you are looking to automate signing processes, KYC checks, or both, you should consider the following solutions.
Collecting handwritten signatures is a hassle. Luckily, Penneo Sign can help you automate the signature collection, making the process more convenient for all the parties involved. Customers get to sign the documents digitally, and your employees save valuable time they can put to better use.
Traditional KYC processes are often insecure and require a lot of effort on the customer’s part. With Penneo KYC, customer due diligence is fully digital, so your clients can complete the process from the comfort of their own homes. Confirm the identity of your customers, assess their risk levels, and get notified about any changes regarding their situation in one place. Penneo KYC protects both data at rest and data in transit with end-to-end encryption, so your customers don’t have to worry about the safety of their PII.