siliconindia | | October 20209In addition to the policies introduced by the govern-ment, businesses can adopt technology and tech-enabled services for the resources and opportunities they need to adapt to the new normal. Due to challenges posed by the novel coronavirus, companies started putting more focus on digital transformation and taking advantage of digi-tal solutions to reach their customers. Even organizations like schools that require person-to-person interaction were quick to adopt remote or distance-learning.Because of the always-on nature of the internet, busi-nesses are prioritizing the needs of the customers and ac-cordingly planning their digital transformation strategies. Such transformation drastically changes the way, compa-nies operate and deliver value to their customers, enabling them to integrate digital technologies into the entire busi-ness cycle. The successful adoption of digital solutions not only includes technological transformation within an organization but also of suppliers and other stakeholders.TECHNOLOGY ADOPTION FOR SMALL BUSI-NESSES IN A POST-COVID WORLDDue to the strict social distancing guidelines and state-wide lockdowns, small businesses, especially with the physical establishment, are struggling to reach their cus-tomers and are compelled to move their business online. They need to integrate digital solutions in all business processes, including inventory management, accounting, customer support, sales and marketing, and more, allow-ing them to optimize their performance, enhance opera-tional efficiency, and steer the business towards growth.With the coronavirus disrupting businesses across the country, the benefits of digital transformation, such as cost savings, disaster recovery protection, and efficiency gains, look more enticing than ever. Small businesses are catching up with large enterprises by investing in revo-lutionary technologies, including artificial intelligence (AI), machine learning (ML), and business process au-tomation, and start gaining the most from transforming their internal processes. However, digital transformation requires deliberate effort from all individuals, from senior management to individual contributor, and also demands significant investments.IMPROVING CUSTOMER SATISFACTION WITH ARTIFICIAL INTELLIGENCETo maintain customer satisfaction and reduce churn rate, businesses need to focus on providing better customer service and support. AI-based solutions like chatbots can help small businesses to reduce response time and provide prompt customer service so that customers are not waiting hours to hear back from you. Such bots can also answer customer questions in an instant, which keeps your users happy and make them to subscribe or buy your service.Nowadays, CRM (customer relationship manage-ment) software uses AI to make it easier for businesses to manage their interactions with existing and prospec-tive customers. Such tools help you to make predictions and provide recommendations based on your business processes and customer data. Moreover, you can use the valuable insights to take quick actions to keep your cus-tomers happy.IMPROVING PRODUCTIVITY WITH PROCESS AUTOMATIONThe automation of repetitive, mundane tasks can improve productivity by manifold and leads to increased profits for businesses. Automation can also be used to perform ac-counting tasks, ensuring greater accuracy and freeing up highly-skilled staff for value-added activities. Small busi-ness owners spent a whole lot of money to maintain an in-house accountant, instead, they can utilize cloud-based accounting solutions to automate invoicing and chasing of unpaid invoices. Instead of investing significant time and doing multiple paperwork, business automation en-sures that your employees remain productive and efficient at what they do.While big businesses have always been ahead to adopt innovative technologies, with the social isolation and the need for digital transformation, small businesses are also now quick to embrace the transformation bought by digi-tization. The combination of automation and AI can help businesses to save time and resources, making them more efficient and profitable.In times of a crisis, the success of any organization depends on how well they take advantage of technology so that their employees can work remotely with ease and provide uninterrupted solutions to the customers. Addi-tionally, digital transformation can help to improve work-force performance and optimize the sales cycle and sup-ply chain. As technologies like artificial intelligence and automation continue to evolve, small businesses will also need to adapt so that they can gain a competitive edge. The automation of repetitive, mundane tasks can improve productivity by manifold and leads to increased profits for businesses
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