How to scale your business management through technology

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Whether you're preparing to establish a new department within your company or open a new franchise, scalability can mean many different things to entrepreneurs.

How to scale your business management through technology
Business scalability determines the extent to which your brand is prepared to grow, expand or adapt to new market conditions.

There are currently a number of ways to apply scalability concepts in an organization, and there may not be a single method for doing so. However, digital transformation, software-based scalability, and investment in the right technology can streamline existing workflows, develop more efficient processes, and automate critical tasks to ensure your business thrives.

But let's go step by step. Below I will tell you how to achieve scalability to improve your business management. What is business scalability?

When you think of scalability for your business, you most likely think of business growth. After all, one of the functional principles of scaling a business is to prepare it to meet growing or changing demands. Ultimately, scalability is about keeping your business running as it expands, adjusts, or adapts.

Many professionals consider scalability crucial as it can lithuania whatsapp lead stimulate growth, save money and help develop a more consistent brand message.

Additionally, business scalability is vital because it allows you to keep your company in tune with the changing interests and needs of consumers , without losing sight of resource availability, shipping conditions, and inflation rates.

In many ways, technology and scalability are inextricable. Technology has, in essence, made it easier for businesses to grow and access markets that were previously unthinkable. In fact, companies that scale successfully often do so because they invest in the right technologies, tools, and applications.

Why leveraging technology will help you scale your business
Suppose you’re wondering how to scale your business with the help of emerging technology, such as generative AI . Asking yourself this question means you’re already on the right track, as investing in new technology is a huge step for many entrepreneurs, especially in Latin America.

Any new technology integration has a degree of risk and reward – for example, introducing complex software for a company that doesn’t need it can backfire. Fortunately, scalable technology solutions often save your business time, money and resources.

For starters, technology can automate many business processes, reducing the time and effort required to complete tasks. This can help you increase efficiency and, most importantly, productivity, allowing you to handle more work in less time or eliminate redundant tasks.

Many businesses are using different technological tools to improve the customer experience by providing faster and more personalized service. For example, you can use chatbots to offer 24/7 support or use data analytics to understand customer preferences and behavior.

When you're looking to scale a business, remember that technology can also help you collect and analyze data about your company and your customers. This will help you identify trends, track performance, and make data-driven decisions that can help you scale your business more effectively. However, don't forget that all the technology in the world can never replace the human ability to think and drive the strategy that will lead you to success.

Technology and strategy alignment: pillars of business success
Technology is emerging as a key enabler for sustainable growth, with 92% of businesses considering it essential or very important, according to HubSpot’s latest exclusive market study aimed at exploring and deepening knowledge about business growth.

This underscores the need to embrace and leverage technological tools to thrive in today’s business environment.

The same survey found that when it comes to alignment, 55% of companies believe their marketing and sales teams’ strategies are fully aligned with their growth goals, demonstrating a cohesion that is critical to continued success.

Companies are adopting diverse strategies to achieve sustainable growth, facing challenges with determination and recognizing the crucial importance of technology and strategic alignment. In this business journey, flexibility and adaptability are the key to overcome challenges and reach new heights.

Accelerating creation: Democratized generative AI
As I mentioned, strategic planning is key. According to Gartner’s Top Strategic Technology Trends for 2024 report : “By 2026, generative AI will significantly disrupt 70% of new web and mobile app design and development efforts. By 2026, more than 80% of enterprises will have used generative AI APIs, models, and/or deployed GenAI-enabled applications in production environments, up from less than 5% in 2023.”

GenAI, or Generative Artificial Intelligence, is the ability of AI models to create new variations of content, including images, video, audio, and text. GenAI applications have the potential to automate a wide range of tasks, thereby boosting productivity, reducing costs, and offering new growth opportunities.

While AI has been around for decades, the arrival of ChatGPT in November 2022 democratized access to this technology and created the potential to transform how almost all businesses compete and work.

GenAI applications can make vast sources of information—internal and external—accessible and available to business users through conversational natural language interfaces (i.e., chatbots).

This means that the rapid adoption of GenAI will significantly democratize knowledge and skills in the enterprise. Large language models enable companies to connect their workers to knowledge in a conversational style with rich semantic understanding. Stakeholders and company departments will benefit from this wealth of knowledge. In the same Gartner report, they give an example of a real-life success story:

“Thimble, for example, automated its accounts payable process by extracting text and images from invoices and using a centralized repository. Its entire finance team has access to the repository using natural language queries. This has increased team productivity and resulted in significant savings by improving the quality of invoice processing and automatically reconciling errors,” they report in the Gartner document.