In the previous two decades, the IT sector has grown into a giant, it has singlehandedly turned around the fortune of many people and companies, However, with opportunities comes great competition and standards to keep up with.
In this article, we’ll be discussing the shortcomings of IT companies that limit their scope and do not let them reach their maximum potential despite being the fact that there are endless possibilities to achieve new highs and how companies can overcome these shortcomings in order to get out of this dilemma.
According to the survey conducted by Boomi and Vanson Bourne, there’s a chance for companies to maximize their return on investment by a staggering 1000 percent. Boomi, a business owned by Dell Technologies recently collaborated with Vanson Bourne to survey 1200 IT companies across the globe.
Here are the 6 steps required to maximize profits and cut costs effectively.
Modernization is the key to move forward, the IT sector has to be one of the most rapidly evolving ones in terms of modernization. Although, a lot of companies (a whopping 94% of them) have already decided to jump the bandwagon and start the process, however, there’s a lot to be done at a much faster rate. According to the report provided by Boomi and Vanson Bourne, every 1 in 2 of these companies state that the process of transformation is not happening rapidly.
2. Low-Code Platforms:
It’s about time that companies have realized that they can save chunks of money by simply turning towards low-code platforms. This not only saves them time but also they can train employees with less hand-coding experience to get the job done. According to the report, more than 50% of companies intend to do so by the end of 2020.
3. Investing the right way:
The end goal of every organization is the to be as productive as they can be and that can be achieved by investing in technologies like Artificial Intelligence and others like Big Data Analytics and Security improvements. AI is the next big thing and it is helpful for organizations in so many ways, also, according to the report, nearly 50% of them agree to improvise with these technologies in the next decade.
Innovation is totally left on the shoulders of the CEO and that’s sort of a nono in the coming future, you can only push people enough if they’re left in the hands of others but if everyone is given equal responsibility for something, chances of innovating can go sky-high, the shift is expected to happen in the next three years or so.
5. Improving Workflow:
Workflow can easily be improved by giving the employees the right type of training and workspace. Employees are an asset to the company and It always takes the right type of people to push the company forward, also, employee productivity is considered to be vital among the decision-makers across the globe according to the report of Boomi and Vanson Bourne.
6. Customer Feedback:
It’s a well-known fact that without taking customer experience into consideration, a company is bound to repeat the same mistakes over and over again. Customer feedback helps in identifying the weak points of the company, so it’s no longer a matter of shooting in the dark and they can know exactly what they need to improve.