It takes a lot to run a successful business these days. Companies, both large and small, are being challenged by tumultuous events in the world and rapidly changing economic conditions. It’s more important than ever to look for an edge in the marketplace, for key strategic initiatives that can give you insights and contribute to the bottom line. Industry leaders are increasingly looking toward the latest advances in systems and technology to help them dramatically improve their efficiency and profitability.
The notion of investing in technology used to be a costly concern. You had to build out data centers and purchase expensive hardware that had the power to run the software you developed or selected. System implementation projects were seldom completed on deadline. Then, after the software was finally up and running, you had to make sure you had the right IT staff to keep everything going. Their ongoing salaries alone cost a substantial amount of money every year. Fortunately, new developments in technology have led to the creation of key strategic solutions that are very cost-effective and far easier to implement.
Business Intelligence Data Warehouse
In many businesses, most of the information systems help get operational tasks done. You’ll find software for order processing, accounting, manufacturing, and payroll and human resources. Each of these systems provides some reporting, but none are geared to serving as a repository of information that can be used for strategic insights. When you implement a data warehouse, you gather all of the transactions and organizational data into one central place. The data is then formatted to specifically make it easy to analyze. Once this is done, you can use business intelligence tools to hover over the data and pull key market and operational insights out with the click of a mouse. These tools are very user-friendly, and don’t require a background in technology to use.
Fleet Management System
With the high cost of fuel, it’s critical for companies to carefully manage their fleets and get the most return for their investment. Rising prices and availability shortages for new vehicles also make ongoing fleet maintenance a key concern. Smart companies are increasingly relying on fleet management system software to run their trucking and vehicle operations. These fleet management tools give you real-time visibility into your on the road operations. Through predictive analytics and timely, accurate reporting you’ll be able to lower fuel usage and better plan routes. The software will also help improve driver satisfaction and customer service levels by improving efficiency and eliminating bottlenecks through proactive monitoring of vehicle telematics.
Software as a Service
As more and more cloud infrastructure was built out by leading vendors, new options have opened up for companies interested in using Software as a Service (SaaS) solutions. With these systems, all of the hardware is cloud-based and the applications and software runs there too. Instead of having to invest hundreds of thousands on your own data center, IT salaries and software purchases, you simply pay a monthly fee for use of these applications. Implementation is streamlined, and your company can quickly be up and running and tapping into the profit enhancing potential of these key applications.