CMO: Three action items for traditional business to improve efficiency, productivity and profits

More and more companies are using technology to communicate with other companies and their costumers.  As a graduate student at Northwestern University IMC, I have gather 2 articles that could make you get familiar with these technology items and help you understand how and why these technology items could help your company improving business productivity and efficiency.

The first article, entitled "Ten Technology Innovations to Change Your Work" by Rosie-Murray West from Telegraph talks about how to manage a successful business by implementing 10 technology items. When managing a business, it's complicated and hard to keep up with all the new technology that comes out. The article discusses cloud computing, 3D printing, Virtual workplace software (Slack and Zoom for video conference) and new payment methods. According to the article, these technology items are cost efficient and are very easy to use. They could be implemented into your daily workforce. By using these technology items, the efficiency and productivity will be improved.

Credit: http://www.telegraph.co.uk/business/sme-challenges/technology-innovations-to-change-your-work/

The second article, entitled "How can Technology Improves Business Performance" by Kristin Logan from milner.com The author goes in detail and explain why technology could change the company's overall performances. The article discusses how technology improves business performance in Finances, operations, employees's productivity, customer service and talent retention. It gives lively example of why technology could save your cost and improve your company's efficiency. For example, print management service could eat 1-3% of your revenue. This way, your company's technology needs to be improved because technology allows the company to save cost, improve workforce productivity and gain profit.

Based on the research on these 2 articles and the coursework that I have done at Northwestern University, I have developed 3 action items that you should consider to improve your business productivity, efficiency and profits.

• Ride in Wave - Business should ride in the technology wave and implement useful technology items in their workforce.

• Be Open Minded - Business should be open to new technology and willing to accept new technological changes in workforce.

• Be profitable - Business should be empowered by technology and their profits should be increased.

The next time when you think about technology in your workplace, you could consider these action items.

Anbo Yao is a current graduate student in Northwestern University's IMC program and he will be graduating in December 2017.  Anbo specialized in digital & Interactive marketing, social listening, customer insights and business & consumer marketing analytics. Contact him on Twitter @AnboYao or on Linkedin at Anbo Yao.