Technology is opening ways to expand business growth
By MYBRANDBOOK
Yogendra Singh
HEAD-IT/SAP - Barista Coffee Company
Technology blueprint for year ahead
To increase efficiency and productivity while cutting costs, technology leaders may explore technologies such as cloud computing, artificial intelligence (AI), and automation. Cloud computing can provide scalable access to computing resources, while AI and automation can help reduce manual tasks and improve accuracy.
In terms of technology adoption or implementation, set common goals and try to keep a simple and
short process. As an organization our agenda for 2023-2024 is to automate business processes with the help of AI.
Latest technologies influencing growth
Organizations are adopting a wide range of technologies to achieve better growth, and the specific technologies they choose will depend on their industry, goals, and specific needs. A growth strategy is a high-level strategy that outlines everything a company needs to do to grow. So technology can open so many ways to increase chances of business growth. We are working on a similar concept with AI enabled Customer loyalty management engine and integration with POS and SAP HANA. It will help to increase customer retention and enhance customer experience. It helps to understand Customer Experience and buying pattern behaviour. IoT is also an example that involves the use of sensors and devices to collect and transmit data, which can be used to optimize operations, improve customer experiences, and develop new products and services.
Blockchain technology provides a secure and transparent way to store and transfer data, which can be particularly useful for financial transactions, supply chain management, and digital identity management.
Cloud computing provides scalable and flexible access to computing resources, which can help organizations reduce costs, improve agility, and increase productivity.
With the increasing threat of cyber-attacks, organizations are adopting new technologies and strategies to improve their cybersecurity posture. These include next-generation firewalls, threat intelligence platforms, and security automation tools.
Fortifying organization from cyber threats
A competitive advantage can make a business more attractive to hackers because they know that businesses has valuable data and sensitive information that could be sold on the black market or can be used to gain a competitive advantage.
Therefore, it is essential for businesses to have a strong cybersecurity boundary in place to protect themselves from cyber-attacks. This includes implementing robust security measures such as firewalls, intrusion detection and prevention systems, access controls, and encryption. It also involves regular security assessments and audits, ongoing employee training and awareness, and incident response plans to quickly identify and respond to security incidents.
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