Midsize Companies: Your financial officers and staff can be making you more money without spending a penny in 2019. A midsize company is defined
as any business with annual revenue between $10 million and $1 billion. This section of the economy represents the largest number of businesses in
our economy and they play important roles in their communities and the economy at large. Financial executives and managers in these businesses also
face unique challenges not shared by the enterprise or small businesses. Addressing these challenges means seizing opportunity and can often be done
using the systems and expertise you already have.
Here are some of the trends you should expect in 2019 that will offer great opportunity for your organizations:
Digital Transformation (or using technology smarter)
This shouldn't surprise anyone in business today. From PCs, wireless networks, to smartphones - technology has completely redefined how we do business. This is crucial for the back office as well. Digital transformation is driving change at the enterprise level and midsize businesses should be taking advantage of the benefits as well. In simple terms, digital transformation is all about removing manual, redundant, and time-intensive processes and leveraging technology to capture data and complete these tasks. The result is a more efficient business and most companies I meet with already have tools in place that they can be using for this purpose without spending extra budget.
Cloud Availability (or answering business questions immediately)
Most Americans are always within 10 feet of their smartphone which has resulted in one of the most productive periods of time for our economy. We can answer emails, review documents, and stay up to date on industry trends more than ever before. That same availability should apply to your business information as well. You shouldn't have to consider a late-night commute to the office to review a financial statement or edit a report for a board meeting. Cloud-enabled business systems allow you and your staff to do important work without being tied to a specific workstation. You shouldn’t have to worry about expense reports as you get ready for bed but you can take advantage of airport WIFI when your flight is delayed on your way to that annual trade show. Leveraging cloud technology in your business should be something you are already considering, or doing, as we step into 2019.
Reporting and Data, (or supporting that business hunch with your data)
All this technology has led to more data than ever, and it's time that data works for you. You have probably heard about big companies using data analytics to make better decisions and drive revenue growth. This is about the ability to look at past customer buying trends, sales data, and transactions to make a better plan for 2019 through 2025. You don't need to invest in a data scientist and a supercomputer to make better decisions.
At CS3 Technology, we help organizations every day that want to address a broken process or system. Acknowledging the above trends early as you plan out your 2019 will give you a way to hit those growth targets and goals.
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