Can new technologies impact organizational productivity?

Organizations are desperately looking for ways to improve productivity, especially when adopting new technologies.

Enterprises of all sizes are looking to become more agile, innovative, and cost-effective in today’s competitive environment—employing project management methodologies of all kinds.

It’s becoming increasingly challenging for organizations to deal with the changing needs of customers and stakeholders.

Moreover, they are experiencing several workforce challenges: being under-resourced, dealing with high employee turnover, and experiencing difficulty in recruiting and retaining skilled employees.

To combat these challenges, organizations must embrace technology and adopt new ways of working. By improving the use of technology, organizations are empowered to become more competitive, efficient, and productive.

The impact of technology on productivity

Technology can solve several business productivity challenges. Companies that leverage technology effectively are better placed to boost their productivity levels. Technology can be used to:

1. Reduce operating expenses

Every business hopes to find ways to cut expenses and increase profits. Technology helps improve the efficiency and effectiveness of vital business processes while simultaneously increasing a company’s bottom line.

Here are a few ways that technology aids in cost-effectiveness:

• Office expenses like rent, cleaning, paper, and coffee are reduced thanks to remote workers and mobile offices.
• With the help of automation software or artificial intelligence, workers can concentrate on higher-value activities.
• When it comes to the data an organization relies on, it pays to employ data quality tools to ensure it’s as good as possible. Time spent gathering data for evidence-based decision-making is saved as a result. Targeted changes in data sourcing, architecture, governance, and consumption may help companies reduce waste and manual work and make high-quality data more accessible, reducing short-term data costs by 5 to 15%.

2. Improve teamwork

With collaboration tools, remote teams can now effectively work together on projects and tasks. The increased engagement and better communication among team members is a double win. Teamwork and collaboration amongst peers are boosted as a result.

Members of a team can work together to solve problems, get inspiration, and support one another. They may even engage in teambuilding activities, especially during virtual teambuilding sessions, owing to an increase in digitalization. Teams can maintain constant communication regardless of the time of day or location.

As a result, teams can quickly and easily review any material they may have missed while working offline, thanks to the availability of collaboration tools.

3. Improve project management

Project management software streamlines the process of completing any project thanks to gaining team members’ buy-in. This central hub allows project managers to communicate with their teams, delegate work, and share relevant files and documents.

Technology allows team members to understand their roles and the team’s top priorities clearly. Everyone involved in the project has access to all the related files to stay abreast of its development and outputs.

4. Enable remote work

In light of the post-pandemic plus the Great Resignation of 2021, employees even more so contribute to the success of their companies from the comfort of their own homes or from anywhere across the globe, thanks to remote work. Because there is no need to travel to and from work, it helps keep workers content and reduces stress.

By moving to the cloud, you can ensure that all of your employees have access to the same files and programs. Your whole organization, including the call center where clients are serviced around the clock from anywhere in the globe, may be moved to the cloud.

5. Enhance employee engagement

Productivity methods, tools, and engagement software make it much easier for managers to keep tabs on their staff’s advancement. Employees may track their development against key performance indicators (KPIs) or objectives and key results (OKRs) and other goals.

In addition to boosting morale and productivity, employee engagement tools provide workers with the control and motivation they need to reach their full potential. The fact that some of these technologies take on a game-like quality helps to spur creativity and output.

6. Reduce human error

Almost three-quarters (74%) of organizations have had security rules broken by employees, and 73% have been the target of phishing attacks, according to Egress’ Insider Data Breach Survey 2021.

The insider threat can seriously damage an organization’s reputation and incur major financial costs. With the use of technology, however, organizations can combat malicious behavior.

The presence of data loss prevention (DLP) software, for example, allows organizations to protect sensitive information. DLP programs monitor and block the sending of sensitive data to unauthorized parties.

7. Strengthen security

Global cyberattacks rose by 28% in the third quarter of 2022 compared to the same time in 2021, according to Check Point Research (CPR).

Luckily, cutting-edge security protocols are usually built into cloud-based system technologies. Furthermore, various anti-phishing tools and solutions are available to guard against such intrusions.

A security breach is a completely avoidable source of wasted time and resources for any company. Domain or website hijacking, ransomware, and other similar cybersecurity risks are no longer a concern for organizations with modern security solutions in place.

8. Improve customer service

The quality of customer service is often critical to an organization’s success. However, many customer service departments are understaffed and under-resourced.

Luckily, technology has made customer service easier. Many organizations have adopted self-service channels, such as web chat and chatbots, to respond to simple customer service inquiries. They also use a white label client portal to provide customers with easy access to information and support resources.

Unlike human employees, chatbots can automatically go through consumer inquiries and route them to the right team. When clients have more detailed questions or prefer speaking with a human, a human agent can take over.

How to make the most out of technology

There are many technologies to choose from, so it is crucial to identify those that will work best for your business.

The first step toward achieving better productivity for your organization is assessing your key challenges and then establishing how technology can help you overcome them.

Here are some of the most popular technologies that can help you achieve better productivity in your organization:

1. Data analytics and forecasting tools

Understanding your current business situation is the first step towards expanding it.

Doing so can require a substantial investment of time and energy. Fortunately, analytics is one business activity that is reaping significant benefits from the development of AI and ML.

More sophisticated algorithms crunching internal figures allow for more precise performance forecasts, and the ability to evaluate millions of data points in minutes makes market research cheaper and more accurate.

2. Communication and video conferencing tools

Communication and video conferencing tools enable employees to communicate and collaborate effectively from anywhere in the world. This doesn’t mean all communication must occur in real-time—asynchronous communication is just as effective.

Video conferencing software such as Skype and Zoom enables teams to meet face-to-face rather than relying on email and other text-based solutions.

With digital conferencing solutions, organizations can save money on travel costs and time. At the same time, employees can collaborate and share ideas, even when working in separate locations.

3. Collaboration and project management tools

Cloud-based data-sharing solutions are another technological advancement that is assisting remote teams. Project management may be done remotely with the help of tools like Paymo and Trello, which provide file sharing and other collaboration features. Moreover, time-keeping solutions are crucial to project success.

A further perk of working in a digital workplace is reducing the frequency of in-person meetings. Managers and employees alike are often frustrated by the time commitment required to attend meetings, so think about implementing collaboration technology that minimizes unnecessary meetings.

4. Compliance solutions

Compliance solutions are another use of technology that is beneficial to businesses. Certain industries are highly regulated, and the level of complexity depends on the specific nature of these regulations.

Fortunately, compliance software is available to simplify the process of meeting regulatory standards. Cloud-based archiving software provides organizations with secure storage for their important data.

An enterprise-grade software solution allows access to the compliance data you need at any time from any of your business locations.

5. Customer service solutions

Automated customer service solutions may save costs and free up salespeople’s mental capacity for innovation.

Examples include the use of chatbots for customer assistance and the use of automated SMS messaging in digital marketing efforts.

The main benefit of these tools lies in the fact that they can serve a large number of consumers and their constant availability.

6. Gamification solutions

A company’s productivity is directly proportional to the quality of its employees, who, in turn, are only as effective as their motivation and training.

The most recent development in employee engagement with this aim is known as “gamification.” To sum up, it transforms routine tasks into competitive games with prizes for the winners. This keeps workers invested and provides them more of a reason to see the company succeed.

Over to you

Technology is the driver of productivity and can help your business overcome any challenges you currently face.

When it comes to boosting productivity, it is essential to do your research and identify the technologies that will best help you overcome your current challenges.

By harnessing the power of technology, your organization will be empowered to achieve better productivity and competitiveness.