The real promise of technology
Improve business focus on the twenty percent and make profits rain
Read any technology sales paper and they will promise greater efficiency and decreased cost. Is it hype? Is it the truth? Like all things in life, it is a mixture of both. But, I think that promise can be had by focusing on the 20% percent. Let me explain. I know most business owners and executives have heard of the 80/20 rule or the Pareto principle. Basically, this is a rule that states for many outcomes, roughly 80% of consequences come from 20% of the causes. Just imagine how your profits will soar if your business is able to focus on that profit-generating 20%. This article gives you a few ideas on how to improve the focus on business profit through technology.
Big Gains can be had by utilizing automation on the necessary but non-profit-generating tasks of your business. The 80%.
Automate tedious and redundant tasks, so that employees can focus on the 20% or the more profit-creating tasks for your business. When purchasing applications go that extra step to learn what steps can save time for your employees even if it is simply keyboard shortcuts to streamline workflows. The upfront investment in time to implement automation is a small cost when compared to the productivity gains.
At BeCloud we are constantly looking for ways to streamline our workflows and improve that 20%. Odoo is an example of software that we use to increase automation. For example, it helps us automate invoicing and several customer interactions such as software and hardware sales. Those tasks are necessary for the business, but not part of the 20% profit-generating tasks. Whenever possible, we automate 80% of tasks that don't relate to profit generation. Could your business benefit from automation? Contact BeCloud for a detailed analysis of what workflows qualify for easy automation.
2. Artificial Intelligence
Artificial Intelligence, Machine Learning, nor computer science, or Algorithms can replace human intuition and experience.
If you think AI is science fiction, then you must have been sleeping under a rock during the last few years. It is already extensively used in marketing, for example, product recommending engines and in many other applications. China expects that future technical leadership will largely depend on AI because it spends more money on Artificial Intelligence than even the United States.
AI can be utilized as a tool that can make decisions easier. AI and machine learning can be used on the data you already have to glean new insights and new opportunities to improve the 20%. In this hyper-competitive world, it is harder to differentiate services. AI can lead to finding and exposing areas of opportunity more effectively.
3. Outsource Services
Focus on the 20%!
By outsourcing services that are in the 80% category for your business, you can focus on the 20% thereby increasing profits. Of course, one of those items might be IT management. If IT management, such as creating user accounts, security monitoring, or network management is not in your 20% of profit creating task consider outsourcing IT to BeCloud.
The 80/20 rule suggests that 20% of your efforts account for 80% of your outcomes. By focusing on the 20% of tasks that increase your profits your business will soar. Use technology to automate the other 80%. Outsource the business divisions that don't directly create profit.
By using Automation, AI/ ML, and IT outsourcing you can increase profits.
Join us and improve that 20%.