Corporate technology influences smart business decisions

Jun 10, 2015Nii Ashalley

Since business intelligence today has become so important, corporate technology needs such intelligence to provide the needed platform to compete.

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Corporate technology, whether used in networking, information research, and distribution system, or in product marketing or branding strategies, always helps to enhance business performance. The rewards and potential of corporate technology are so important in modern business operations. Corporate technologies are growing and even becoming better. Social media, mobile technology, data storage, networking, and many other technologies are influencing important day-to-day business decisions.

Corporate technology influence on data analysis

How does information technology affect the performance of a business? One of the biggest examples of the use of corporate technology would probably be the implementation of a customer analytics system. Two years ago, McKinsey & Company conducted a study to get some close insights.

The study concluded that companies that master the skills of customer analytics are likely to have more profits than their competitors. The study added that companies using customer analytics are more successful in retaining their customers and outperform competitors by making continues sales from the existing customers through remarketing methods. Such an approach makes them achieve above-average results.

Corporations use customer analytics to improve response rate and perfect customer targeting, reduce marketing campaign cost, deliver the right message to the right segment of customers and thus increase their Return on Investment (ROI).

A good corporate technology investment offers smart business solutions for businesses to compete vigorously in an overcrowded market.

Corporate technology influence on communication systems

It’s getting better every day. Companies are now incorporating Bring Your Own Device (BYOD) policy. The advantages are many. More flexibility for workforce mobility, easy device tracking, increase user productivity and cost savings for businesses on software licenses and hardware purchases are some appealing benefits.

Corporate solutions are embracing mobile communication strategies for quick internal interaction. This is where you’ll see mobile technology develop strategically. A study conducted by Towers Watson in 2013 showed that around 56 percent of employers prefer to use social media tools, like instant messaging services, as part of their company’s internal communication system.

Corporate technology influence on marketing methodologies

No corporation can ignore the potentials of online marketing technologies. A new article published in Harvard Business Review pointed out that corporations must use conversion optimization, email marketing, search engine marketing, remarketing, mobile marketing and marketing automation tools if they don’t want to miss out on the most potential opportunities of the decade. Internet marketing techniques offer an ample amount of opportunities.

The biggest advantages are that corporations now can have increased customer reach, provide better customer support and improve consumer experience. With better integration of right skills, knowledge and technologies, corporations are now gradually shifting to the trend of internet communication.

Corporate technology influence on accounting process

Nowadays, you can find very effective accounting software. This is another use of information technology which has helped the accounting system of many business houses. This effective information recording and distribution system helps organizations simplify large accounting transactions. With computer technology, most organizations now enjoy this privilege.

Therefore, we can say that the advancement of corporate technology helps in accurate information flow, thus aiding entrepreneurs in making better business decisions.

Smart business intelligence on inventory management

Corporate technology offers smart business intelligence. With advanced corporate technology solutions, you can also have much better control over your inventory. Some retailers in the US have already started using high-tech solutions to manage their inventory.

These inventory management and corporate technology solutions are easy to use. For example, Wal-Mart used such a solution to track the inventory of denim menswear and apparels.

Nii Ashalley

Nii Ashalley is the inspirational voice at The Business Frontal. His uplifting quotes, dubbed "Ashalleyistics", have encouraged many entrepreneurs, start-ups and leaders to achieve their maximum potential. He is a seasoned counselor, a life and business coach and an author of many call to action business articles.