Innovative technologies play a key role in the growth of modern businesses. The tremendous wide availability of a range of technologies is challenging to a significant extent modern start-ups and even existing companies to make the right choice about the implementation of technology. If you don’t know what emerging technology adds value to your business, how do you judge its suitability in the first place? Let’s know how innovative technology adds value.

 Value 1-Facilitate communication: We’ve passed the communications technology evolution phases from paper-based snail mail to phone calls, and then email. VOIP is handy and video conferencing on live streaming is a reality today. On desktops, laptops and smart mobile devices we have instant messengers. AI-powered Chatbot like solutions connect us with the community of social media as well as help direct customers via a web portal or mobile app. For a fast channel of communication, distance is near zeroing.

Value 2-Safe and efficient storage of data : Rapid digitalisation has made paper files a thing of the past, and the cyber network has connected us to leverage immense data storage capabilities, particularly from remote servers and cloud servers. When you subscribe to the right provider and select the right plan, safety and security no longer constitute concerns.

Value 3-Instant access to data: Cloud infrastructure allows us to quickly become global, as well as being local. With the right authentication, we can access our data worldwide in a safe manner and even system constraints are not a major hurdle in a BYOD (bring your qwn device) environment.

 Value 4-Automation of business process: Tough market competitions require the quick delivery of products or services at competitive rates. Human resource shortages compel businesses to embrace automation to achieve the goals. As innovative solutions, CRM, ERP, Robotics, AI and IoT are on the way to delivering automated solutions for a variety of companies and manufacturers to streamline their production, data transfers, transactions, data acquisitions, support services, packaging, order management, shipping and marketing processes. These all improve our productivity and make us more flexible.

Value 5-Market insight and customisation: AI and related technologies such as Machine Learning , Deep Learning, Language Processing, M2 M technology, and voice recognition solutions has transformed the way we acquire data and process BigData to draw useful observations.

How to pick right technology for your business?

If you take the right approaches, the selection process could be easy though.   For example:

  • In your business cycle, you might have identified areas and strategies where face lift can prove a worthwhile investment through tech innovation.
  • Find appropriate tech solutions in the market for this area and conduct a short- and long-term return analysis against investment and maintenance throughout the software’s life cycle.
  • Find out how your selected technologies will boost your business profitability, quality , and performance along with the above-mentioned added value.
  • Over the next few years test the scalability of new technology for your growing business. Some areas may be expandable while others may contract.
  • Check the trend of your selected technologies and watch their results in the marketplace so you can know whether they will last long or fade after a point.
  • Before implementing it is advisable to bring common concessions among your workforce. Before the final purchase, you can take advantage of tech solutions demonstrations and see adaptability.

Which technology is right for your market, and why?

The following innovations are popular today and are the most used on the market today.

  •       • AI driven chatbot enables contact, marketing, lead collection, and online and offline business support services.
  • AI and associated technologies provide the business’ customers with highly personalized experiences.
  • AR helps retail ecommerce, salespeople, the fashion and apparel industries, restaurants and other domains to sell their products and services by providing real-time product information and displaying virtual products in real-time.
  • LBS (Location-based Services) is crucial for retailers, hospitality & restaurant businesses, the travel & tourism industry and others
  • With increased mobility the cloud and associated technologies are gaining momentum. Enterprises, companies, and governments are seeing increased cloud use patterns.
  • Blockchain technologies are stirring sectors such as finance, legal, security, ecommerce and others.

Conclusion: If you are considering investing in any technology to expand or set up any business, it is worth considering the aforementioned areas to determine which are the most critical to any business. Since, technology is the root of all the headway in the modern age. Using the right technologies is putting the company on a productivity course.

 Using these technology-based approaches shared by Trovend Technology in your business operations could significantly improve your customer experience and end-profits. They’ll give you the opportunity to produce higher revenue and cut costs. If your company’s technology isn’t up to date or doesn’t match your competitors’ level, you’ll be left far behind.

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