Real-Time Analysis

It’s been said that knowledge is the best weapon. For the small and medium-sized business looking to navigate this situation, this couldn’t ring more true. To be able to make the best financial and operational decisions possible, SMBs are turning to data analysis, in real time. By being able to look at the data that is coming in and going out in real time, a decision maker can swiftly make educated decisions. This can help businesses stay afloat in times where they are at their most vulnerable.

When decision makers can get insights as they happen, they can take action quicker. Additionally, many of today’s most dynamic analytics platforms can be deployed near the edge of their company’s computing infrastructure, meaning that data coming represents the flow of information in and out of a business. 

Some other benefits include:

• Managing location data - Helps decision makers determine the relevant data for multiple locations.
• Anomaly detection - Quickly detects outlying data sets to avoid impulsive decision making. 
• Improved marketing - With a lot of the information coming in, decision makers can make decisions based on demand when it otherwise wouldn’t be noticed.

Online Sales

Many businesses feature ecommerce platforms already, but since all non-essential store locations are closed as lawmakers try to stymie the spread of the Novel Coronavirus, businesses are quickly ramping up their online sales capabilities. In fact, in the retail sector, some businesses are now seeing two-to-three times the amount of online orders than they would typically. It may not be the same as it was when foot traffic was allowed, but by having a strong online sales platform in place, businesses can stay in operation until the stay-at-home orders are lifted, and they are allowed to resume business as usual.

VoIP

It seems that Voice over Internet Protocol (VoIP) phone systems are the single most useful tool during this entire situation. VoIP provides businesses with strong and reliable telephone systems, with options that you would expect out of an enterprise phone system, for a fraction of the cost of what a business would normally pay for a comparable system from a telecom. 

Additionally, VoIP has a lot of optional features that a business can add when remote work is necessary. Solutions like instant messaging, text messaging, and audio and video conferencing can be major benefits for the remote workforce. Many businesses have taken advantage of their VoIP system’s more dynamic features during the stay-at-home period to ensure that communication and productivity isn’t stymied. 

Automate

Cutting costs during an economic downturn is an art form. Many businesses looked at their pre-coronavirus operations as efficient until they were forced to embrace a digital workforce and cut additional line-items from their budgets. If there is one element that will help any business streamline their operations it is finding ways to deploy automated tools. 

For the business that is looking to enhance their automated processes, they will first need to identify which of them they can effectively automate. These typically include:

• Tasks that involve moving information around
• Frequent and mundane, but necessary tasks
• Tasks that frequently interrupt focus on business critical tasks

Investing in ways to automate tasks like these can go a long way toward streamlining your operations now when it’s most necessary. Best yet, these automated processes will be in place when business returns to some semblance of normalcy.

This is an unprecedented time for the small business, and we would like to help see you through it. Call us today at (604) 513-9428 to find out more how we can help you streamline your business processes.