The immeasurable impact of COVID-19 has caused an immense disturbance globally. It hasn't merely posed a threat to human life, but many organizations are also looking for ways to avoid breaking up or failing. Regrettably, these challenges don't appear to be going away anytime soon.
While several sectors are on the verge of losing their significance in the market, specialists believe that the tech domain might come out triumphant in the post-pandemic future.
Technology has simplified the execution of many tasks that were once quite time-consuming. Whether in social or business contexts, we depend less and less on non-digital methodologies and practices. Thanks to mounting technological advancements, we can interact, shop, live, and research with much less effort.
In most industries, it is now essential to hire a tech-savvy workforce. Keeping your employees updated with rising tech trends increases productivity and plays a huge role in building brand value.
Over the past 5 months, we have seen how businesses are adjusting their tech expenditure to adapt to the COVID-19 economy.
In March, there was a sudden increase in tech expenses as organizations shifted to a remote workforce. Now, the key business question is how companies must return to workplaces, and how the financial system will recover. Teams are predicting costs for the rest of 2020 contingent on these two crucial points.
Many of these factors are driven by consumer demand. For example, Amazon hired 100,000 warehouse workers to accommodate the surge in orders. Mark Zuckerberg said traffic for messaging and video calling had increased drastically. Microsoft said the utilization of some of its software had scaled around 40% in a week due to the COVID-19 outbreak and lockdowns.
Streaming services such as Netflix have cut into box office sales in recent years. Now, as theaters are closed under government orders, streaming platforms are acquiring an even larger market share.
Apple, which once seemed to be at risk from the pandemic due to its reliance on Chinese consumers and factories, seems to be on good footing as it shifts from its grave dependence on device sales to services revenue, which involves app sales and subscriptions to its TV and music services. Several of Apple’s factories are almost back to normal, and users are spending more money and time on its digital services.
Other companies were already betting on remote solutions and have been handsomely rewarded. Babylon Health, a health service provider that offers remote sessions with healthcare experts, has introduced a new solution within its application to update patients with data about the virus and its symptoms.
According to one survey covering around 400 organizations across 16 cities in April, 95% of them were tackling user-related difficulties, while 63% observed ROI losses because of fewer customers and low demand due to COVID-19.
Enterprises have to redefine their tactics by keeping contactless payment solutions like Venmo and digital marketing at the core of their business model. Small businesses have also started adopting these practices.
However, the larger question is, can we automate every task? Is it possible to deploy technology in every industry? Let's have a look at some sectors that can be automated via technology.
Technology has revolutionized marketing by enabling the creation of custom campaigns that are targeted toward different audiences. Companies are also building ecosystems that are integrated and targeted for advertisers. Let's take a look at some of the marketing aspects that rely on technology.
If you have a blog, numerous blogging sites, including WordPress, provide the option to schedule your posts. This allows marketers to write blog posts and set all of them up to be published automatically. These posts appear in search engine results and attract visitors to your website.
Content management programs like HootSuite allow you to write social media posts in batches, and then spread them all through the week/month with a scheduler.
If you utilize Google Analytics, you can set up a report to be emailed to you once a week. You will get summarized statistics of your website in your inbox instead of wasting time gawking at your website visitors.
There's huge enthusiasm for the latest technology in customer support services. Gone are the days when the communication had to be live and a human was mandatory for interaction.
You must have several messages in your inbox and you don’t want all of them to get a similar reply. To make the process simpler, you can set up a few preset replies via Gmail and can further customize them before sending. Moreover, it is feasible to schedule emails that go out on vendors’ or clients' business anniversaries or birthdays.
Live chat lets users converse with customer service executives in real-time. Instead of having to communicate with an executive on the phone, customers can have a live conversation with representatives in a chat window. These conversations are saved by the system and can be referenced later for better case management.
Another customer support technology trend is AI-based chatbots. Organizations are using AI to proactively communicate with users within an app, respond to customers’ requests, direct users to helpful materials, and more.
Technology has helped companies develop modern financial solutions. Several tasks have now become easy to handle and effortless to implement.
Do you have a customer who owes payment? Don’t want to message them over and over? Apps like Freshbooks, Invoicera, Zoho Invoice, and more help you build automated email reminders to keep you from having to compose reminders. Customers can pay by directly clicking links within these reminders, making collection smooth and automatic.
Controlling accounts and maintaining proper employees records to organize payroll manually is a difficult and time-consuming activity.
With apps, like Paylocity, Paychex Flex, Rippling, Gusto, and more, you can simply automate payroll. Thus, there is no need to bog down your HR department twice a month.
These tools help you handle company transactions, monthly salary, PCB, EPF, bonuses, and a lot more.
When was the last time you visited your bank? Don’t remember? It’s all because of improvements in technology. Companies like Venmo, Zipmark, and more have built platforms where customers can send and receive money regardless of their location, via the Internet. Paying bills has become easy, hassle-free, and quick. You can even schedule the payment automatically.
With the help of your phone or computer, all your bill payments can be done online. Moreover, communicating with your bank for setting up automatic payments is one of the simplest ways to ensure that your office has electricity without writing cheques every time.
Manual processes are tiring and consume a lot of time. Moreover, there is a high chance of errors and loss of data. With modern operations software, you can complete previously manual tasks with a few clicks.
Losing crucial files used to be a nightmare for all of us, didn’t it? Thanks to the emergence of the cloud, you don’t have to worry about system crashes or file corruption as you can backup your data easily. You just need to set up a cloud-based backup, such as Dropbox, where it’s easy to automate a daily/weekly backup.
This might not appear like automation; however, if you share your Google or Outlook calendar with your colleagues, they can seamlessly view your availability. This permits them to schedule meetings without spending hours responding to email threads.
Non-tech companies are now gaining a lot of advantages from tech and engineering. Below are a few recent examples:
Pizza Hut restaurants all over Asia are now using a robotic attendant. The humanoid assistant can talk to customers, take orders, accept digital payments, and offer food suggestions — and never wants a tip! Other restaurants like Domino's are experimenting with novel approaches to delivery. They let customers place their orders via a tweet and track them from the time food is placed in the oven until they get it at their doorstep.
Cars have progressed from mechanical engines to platforms immersed with software that includes modern driver-assistance systems, connectivity on the road, and maintenance regulation. It makes the entire experience safe and effortless. This is thanks to the Internet of Things (IoT), which has attained widespread adoption throughout the automotive domain. A sensor in vehicles’ operational components regulates functional metrics, including engine status, electrical systems, temperature, and more. It also checks performance variables and predicts performance benchmarks. Owners can use this information to address problems before they occur.
Some tech companies are adding software to products that previously had none. For instance, Samsung’s new refrigerators contain interior cameras with the ability to send a photo to your mobile phone when you are out shopping. This allows users to track the things they have and what they need to buy.
Retailers are enhancing their mobile-backed in-store shopping practices. Target recently acquired Powered Analytics, a startup that uses mobile innovation, predictive analytics, and location data to offer customized suggestions and messaging to users while they are on the website.
From enabling shifts in employment to helping businesses expand to global markets, software appears to be an increasingly integral part of every industry. Even non-tech companies won't be able to survive without leveraging relevant technology.
Whether you are an early adopter of B2B tech or just starting to think about how software can help your business, Crowdbotics can deliver the perfect solution for you. Our team of experts has years of experience building custom software for hundreds of start-ups and SMEs in accordance with finely tuned customer specifications.
Get in touch with our team today to schedule a detailed scoping call and get your build off the ground.
September 3, 2020