What is a Digital Transformation Solution?

The digital landscape is in a constant state of change, but these days, that change is happening at a much faster rate. It's up to you to adapt to the ever-growing number of technological advancements such as digital transformation solutions.

The four key areas of digital transformation:

Your digital transformation approach must comprise each aspect of your organization, including customer experience, operation agility, culture, workforce enablement, and digital technology integration.

1.      Business process

Process transformation involves using data analytics, machine learning, and APIs to improve your organization's processes. Effective business processes can help you achieve lower costs, reduced cycle times, and increase service quality.

Take food service companies, for example. Many fast food companies have implemented process transformation to improve their customer experience, offering online food ordering from any device.

2.      Business model

Think of business model transformation as process transformation on a larger scale. This doesn't just focus on addressing certain aspects. Instead, its goal is to reinvent how services are delivered.

A few examples are how Netflix has brought innovations to video streaming and Uber's reinvention of the transportation industry.

3.      Domain

Domain transformation allows businesses from one area to dive into another. It's similar to expansion. Look at how Amazon, which is known for its online marketing platform has successfully entered the video streaming and cloud computing industries. 

4.      Cultural and organizational

It's impossible to venture out of your business area and delve into uncharted waters without first reinventing your organization from the inside. Cultural transformation is essential, ensuring that you succeed in achieving long-term digital transformation goals.

This element includes redefining your organization's mindset, processes, and capabilities in line with the digital world.

The best digital transformation solutions

Digital transformation solutions are challenging to implement; however, they are necessary for business survival. Fortunately, service providers offer solutions that focus on ease, speed, and scale, taking most of the work off your shoulders. A few digital transformation solutions to consider are mobile application strategy and development, digital cloud enablement, transformation strategy, and consulting. 

Key Features to Look for in Field Service Management Software

Field service management is an integral aspect of keeping your business together. It involves everything from scheduling to billing, allowing your company’s field operations to become more streamlined.

The goal of field service management is to integrate and optimize all of your field activity, keeping track of your organization’s operations. As you may have guessed, this is not something that can be handled manually, at least not if your goal is to improve productivity in the workplace.

Fortunately, field service management software is available to help you facilitate each operation. However, not every software application is built the same. You need to find the best one to increase productivity and improve customer satisfaction.

What to look for in field service management software:

Basic features

1.      Intelligent scheduling and dispatching

Proper job scheduling is absolutely essential if you want to ensure that every single operation is completed as smoothly as possible. Think about it; one missed schedule could result in a domino effect that ruins an entire day.

Intelligent scheduling and dispatching allow your technicians to keep track of their jobs, with automatic job assignments on the basis of location, time, and skills.

2.      Work order management

Keeping up with work orders can be challenging, especially if you have to do this via pen and paper. It’s much better to go digital these days. Having a work order management system can rid you of confusing details and irresponsible technicians.

Work order management allows technicians to document their tasks, including features such as taking notes, recording videos, and capturing photos.

3.      Mobile access

Mobile access is one of the essential features to have in field service management software. Why? It’s because field service takes place in locations outside of your premises, and you need a way to communicate with your technicians efficiently.

Mobile integration is excellent for sending notifications, GPS tracking, and providing instructional resources if any issues arise in the field. 

Benefits of Using Workforce Management Software for Your Retail Business

Retail is a highly demanding industry. On top of dealing with numerous competitors, you’ll need to meet customer expectations, maintain brand loyalty, and execute marketing plans too.

What’s more, you have the staff to think about. It’s impossible not to pay them mind when retail has always had a high employee turnover rate. You need to retain your employees to avoid additional costs and decreased productivity, but how exactly can you do this? Workforce management software can help.

Workforce management software solutions are now more common in the retail industry, and for a good reason. Employee retention is otherwise difficult without these programs. They are developed with advanced features to manage the entire business effectively.

Here are some benefits of using workforce management software for your retail business:

1.      Intelligent solutions

Experts who develop management software dedicate much time and research to create the perfect product. As a result, the best software programs are built with digital solutions for various tasks, including work order management, inventory management, real-time tracking, and preventative maintenance.

2.      Accurate staff prediction

As a business owner or manager, it can be difficult for you to keep track of every employee’s move. Workforce management software makes this much more straightforward, allowing you to monitor working times, assess fluctuations in work volume, and analyze each interaction with customers. With these features, you can accurately predict staff needs and adjust accordingly.

3.      Increased productivity

All software features mentioned above lead to one thing: better productivity at the workplace. Your employees are more likely to improve their work ethic thanks to its accessibility. They can easily stay on top of schedules, manage inventory, and fulfill work orders through the program.

4.      Improved customer experience

Better employee productivity ultimately leads to better customer service. Your customers will surely be satisfied with the way services are brought to them efficiently. With workforce management software, you can streamline the entire process through appointment scheduling, real-time tracking, and work order descriptions.

3 Ways Fintech is Reshaping the Financial Services Industry

The financial service sector is one of the fastest-growing in the world. The industry is estimated to be worth at least $135 billion worldwide, with thousands of fintech startups being founded each year. This large number comes as no surprise; after all, financial services are an essential part of daily life, involving everything from banking and investments to financial technology.

Financial technology or fintech has greatly impacted the way financial services are handled. It’s now much easier for companies to deliver services, manage operations, and automate processes. Although the term broadly refers to any innovation in the way people do business transactions, fintech also describes activities such as money transfers and mobile payments.

How has fintech reshaped the financial services industry for the better? Here are four examples:

1.      Crowdfunding

You’ll be surprised to find out how many startup companies have been funded purely through crowdfunding. Digital platforms like Patreon and Kickstarter have made it easier for individuals to pool funding from various sources into one place.

Gone are the days when aspiring business owners would take out bank loans. Instead, they can receive funding directly from investors to support their projects.

2.      Mobile payments

Mobile payments are some of the best innovations to come out of fintech. Anyone with a smartphone can now quickly pay for products and services, minimizing the need to take out a wallet and handle cash.

The global mobile payment industry is almost worth $1 trillion, proving how efficient and productive the technology has become.

3.      Stock trading

Asset management is difficult and time-consuming, especially when you’re doing everything manually. Luckily, financial technology has made this task much simpler with stock trading applications and robo-advising, allowing investors to manage their portfolios with little to no manual effort.