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Updated 30 Sep 2020

Why leveraging technology equals improved efficiency in your business

Sticking to analogue practices and processes in your business may be holding your back. You can use these technologies to improve your business efficiency. 

Kevin Allen, 22 September 2016  Share  0 comments  Print

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As 2016 races towards a close, I am reminded of how technology is speeding up our lives. In order to run a business in 2016, and beyond, it is vital that all business owners and their teams embrace and adopt technological advances that can improve efficiency. 

This article aims to give you an indication of advances in technology that you should be using currently, and then to give you a glimpse of what the future holds. I strongly suggest that any business owner who wants to be successful follow what is taking place in new technological advances; and think of ways that your business can improve efficiency.

Below are three ways that you can use technology to improve your efficiency:

1. Make use of crowdsourcing

There are a number of websites that bring freelancers and projects together. Many different types of projects and freelancers are available from creative and design professionals to finance and legal. 

Crowdsourcing allows you to complete projects without having to do the tedious work yourself. A word of warning here though is that you need to be specific and ensure that you choose freelancers based on good ratings by other users. It may seem tedious at the start, but is worth it in the long run. 

Related: How coaching can improve your business efficiency

2. Make use online communication tools 

Online communication tools are one way to digitise your business and improve your efficiency in terms of meetings and communication. Do your research and choose a tool that you can use for conducting and tracking meetings and you will then be able to expand your team regardless of region. 

Research shows that more diversified teams are more successful, and online communication tools mean that business can be conducted wherever the team members are located. You do need to ensure that you invest in a good internet connection with a dedicated speed of at least 8Mbs to guarantee a quality connection.

3. Use web-based tools that automate tasks 

Automating tasks is the best way to improve efficiency and to give you and your team more time to focus on improving the stategy and tactics that you are employing.

There are many different service providors that offer different automation services from marketing, to social media and finance. This is different from crowdsourcing in that computer software is doing the work. Do your research well and once again pay attention to the customer reviews. 

Related: How to improve delivery efficiency

These are only three of the simple ways that technology can assist you in improving efficiency. Although, at the core there is one way to improve efficiency, and that is by educating yourself on what technological advancements can assist you.

I recently attended Singularity University where we covered a number of new emerging technologies including 3D Printing, Artificial Intellegence, Virtual and Augmented Reality, Robotics, Energy Efficiency, and many more. I suggest; do the research and educate yourself into a technologically driven efficient future.

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About the author

Kevin Allen

Kevin Allen is an energetic and creative strategic thinker currently running strategic projects at Wealth Migrate, the premier online global real estate investment marketplace. Wealth Migrate offers investors access to below-market real estate in first world markets through crowdfunding with a low investment minimum of just $10,000 USD. Kevin was an instrumental part in the founding of the African Crowdfunding Association, a body that aims to engage crowdfunding platforms, regulators and the communities in Africa to use crowdfunding to stimulate the economy and change the business landscape in Africa. Kevin has an undergraduate degree in Pharmacy and an MBA (Cum Laude). In his free time he enjoys creating digital art, searching the web and designing buildings and homes.

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