How Technology Can Improve Your Profitability

Whether it’s a social network, content marketing tool, or analytics dashboard, technology plays a vital role in helping businesses find their most profitable paths. How can technology help increase your business’s profits? Here are some ways that it can.

Technology is improving all the time, and as it develops, businesses become more efficient. That means they can reduce costs and increase profits. Here is a look at the technologies making waves in 2020 that can help your business to boost its profitability.

VPS Hosting

Setting up and managing a server can be complicated and expensive. By opting for Virtual Private Server hosting instead, you can save time and money, which will help your business to be more profitable. VPS web hosting mimics a dedicated server within a shared environment. So, to host your website, all you need to do is upload files. No server setup is required on your part.

BERT

Google’s new algorithm BERT understands search engine queries better than ever before. So, it can deliver much more precise results. That is good for businesses for two reasons. Firstly, it will make online research much more efficient, and secondly, it will help to improve your search engine optimization data. BERT is an open-source neural network tool that understands natural language better. For instance, BERT can decipher whether the word “bank,” when placed in a sentence, means a financial institute or a riverbank. If you have keyword link insertions like “bank” in your blog content, users can find your content more easily with BERT.

You can also increase the power of your blog or website by hiring a qualified specialist in web app solutions. Companies like CMARIX provide highly-skilled WordPress developers who can unleash the potential of your WordPress platform.

Omnichannel Personalization With Technology

Omnichannel is a cross-channel content strategy. You can use omnichannel personalization to drive better relationships with customers across points of contact and improve your audience’s user experience. Companies like Segmentify combine your omnichannel data to create the most accurate customer insights on just one platform. Using the combined information, Segmentify makes personalized product recommendations to your customers. On average, you can expect a 20% increase in revenue and a 9% return on investment.

Artificial Intelligence Technology as a Service

Artificial Intelligence as a Service enables businesses to experiment with AI technology for a variety of purposes. For example, you could use it to sample multiple public cloud platforms to test various machine learning algorithms. The artificial intelligence outsourcing of AIaaS also allows businesses to outsource tasks via a monthly subscription. That will lead to an increase in productivity and profits.

Big Data

Big Data for e-commerce has been attracting a lot of attention from businesses in recent years. It uses powerful analytics software that allows companies to utilize their data to gain a competitive advantage. With the right data, companies can create accurate projections, pinpoint target audiences, and make better-informed decisions to increase profitability.

Voice over Internet Protocol Business Telephone

You can bring your telephone setup to the cloud with VoIP. That means you can unite your whole business with a single, cloud-based, hosted telephone system. With features like voicemail transcription, virtual concierge, and reporting capabilities, you can stay connected to your office and your clients no matter where you are. Increased and centralized communication will do wonders for the efficiency of your business.

Collaboration Technology Software

According to a survey by Gensler, 43% of respondents consider the best workplace environment to be one that promotes collaboration and team building. So, don’t be left behind in 2020. Use collaboration software to create better communication across your business. As more and more companies turn to a remote workforce, collaboration tools are becoming even more essential. With tools that can connect staff with contractors across the world, your company can increase its productivity.

Dragan Sutevski

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan