It’s only natural to want to keep your business costs low. Increasing labor costs continue to eat into the profit margins of many companies, leaving them in a precarious financial position. It is only fair to find efficient ways to save money by purging unnecessary posts.
With the help of emerging technology such as Hosted Dynamics GP, you can streamline menial tasks while automating the grunt work that pads your workforce. With the help of the right technology, you can maintain a lean but efficient workforce while growing improving business efficiency.
Reduce Recruitment Costs
It might come as a surprise, but the process of filling a vacant position often sets the company’s backup to four times the position’s annual salary. On average, it takes about three months to fill in a job opening in the U.S. Studies reveal that companies lose up to $160 billion in lost productivity each year from unfilled positions.
Harnessing the power of recruiting software lets you simplify the entire process and save on both time and resources. The software handles much of the hiring process, from listing jobs on popular sites, managing the resumes, automating the selection process, and scheduling the interviews. That means that you can fill any vacant positions quickly while avoiding expensive hiring costs.
Improve Customer Service
While most companies believe that they provide superior customer service, the customers disagree. Clients value quick and convenient customer service, but only a handful of companies live up to these expectations. A study indicated that over 80 percent of the consumer in the U.S. dropped at least one company due to bad customer service.
Instead of bringing in more people to handle this sensitive aspect of your business, you can harness the benefits of modern technology. Chatbots make the perfect customer care solution for companies looking to streamline this service. Chatbots can all your needs through, e-mail, social media, and even websites. Best of all, you don’t need lots of technical knowledge to set up such bots.
Streamline Your Social Media Presence
Social media is becoming an essential part of the modern business environment and a core component in promotional campaigns. To stay competitive, you need to establish a strong presence on several social media platforms. You need to post and update your content regularly to boost engagement with your current customer and prospects. That means you need to dedicate employees to tackle this aspect of your business. With emerging technology, you can automate such a process and stay ahead of the competition. It means that you can get a data analysis to help you increase engagement, recruit new users, and share new and meaningful content with your followers.
In the end, modern technology provides businesses with a way to improve efficiency or productivity. With technology, you can streamline service delivery without incurring a fortune in wages. It enables you to automate some of the business processes to improve customer experience. You can enable your staff members to tend to other crucial business matters, thereby boosting productivity.