ARTICLES — February 24, 2021

In Today’s Rapidly Evolving Marketplace, Increasing Business Agility is the Answer to Stay Ahead

In this day and age of technology, it’s clear that businesses have to be flexible if they hope to survive. However, with industries evolving so quickly, they need to focus on more than just finding ways to survive; they need to improve their business agility to stay ahead.

The concept of business agility usually refers to the ability to optimize internal processes (operational agility) and the ability to make organizational shifts (strategic agility). To effectively reap the benefits in the digital information age, businesses need to be ready for higher business agility by accelerating progress and taking intelligence-based actions.

Achieving business agility in today’s rapidly evolving marketplace requires a focus on both operational and strategic ability. Here’s how businesses can improve their business agility, and how IoT technology fits into the picture.

Improve Internal Processes

Businesses often struggle with operational agility because the investment required to make an operational pivot can prevent decision-makers from changing existing workflow. In manufacturing, for example, redesigning production flow for small efficiency gains can seem like too much of a disruption. Despite the disruption, putting in the investment for operational agility is important because small efficiencies add up over time and can generate benefits like boosting company morale and optimizing the current business model.

Understand the Current and Future Environment

Businesses must understand their current environment and how current trends will shape it going forward. This can be done by creating new processes or products based on external conditions and an outward-facing approach. Strategically agile businesses will study the competitive forces at play, shifts in the market, and developments in technology that could support industry-wide disruptions.

Become Customer-Centric

Adaptability and variability is the name of the game. This is why companies should consider adopting a more customer-centric approach to increase business agility. For example, using IoT, they can gain key insights into product performance, purchase behavior, and consumer trends to modify upcoming models to align with customer needs  Agile companies have the responsiveness to constantly-emerging challenges, but more importantly, they believe their success revolves around customer satisfaction.

Optimize Operating Models for Speed and Agility with Automation

In the ever-changing work environment and market, technology can be used to reimagine the kind of capabilities that a company can achieve to bring speed, agility, and trust. For example, Robotic Process Automation (RPA), enables companies to automate tedious and mundane business processes. This way, businesses can increase overall proactivity. More than that,  employees can also benefit on a personal level by becoming more capable of doing more valuable and intelligent work.

Overhauling business models come with risks, but remaining stagnant is a risk in itself. That’s why it’s advisable for businesses to orchestrate their operation with great care and concern to enable and support agility. Visit https://telkomseliot.com and decide your strategy to stay ahead in today’s rapidly changing business environment.

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