Home Features How Tech Can Solve the Biggest Business Challenges of 2020

How Tech Can Solve the Biggest Business Challenges of 2020

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Businesses face different challenges every year from all corners, from a lack of financing options to recruitment nightmares. However, the gadgets that you see on the market today can have a major impact on the ability of companies to overcome these great challenges, and this article details some of the most prominent struggles for businesses and what tech can do to help them with these.

Efficiency

Many companies are finding themselves struggling to stay efficient at the moment, whether this is due to under-staffing or a lack of training. This can cause them to have a smaller capacity and even to upset impatient customers and clients within their supply chain. However, tech can help you to overcome any challenge that you have in terms of efficiency. Many types of management software can allow you to automate time-consuming tasks such as administration so that you can focus on the elements of the business that need your specific creative input. Not only this, but tech can complete tasks much quicker than your average employee, and so artificial intelligence and robotics are starting to be used to complete tasks in half the time.

Social Distancing

With the ongoing coronavirus pandemic still putting pressure on companies, many business owners are struggling to meet the strict health and safety requirements and stay compliant with current regulations. This could be due to the layout of their office or factory space or the nature of the work that they perform. However, Freespace’s physical distancing solutions can help you and your employees stay safe within the workplace by allowing team members to book a desk clean through a return to work software and notify teams of the measures in place via digital signage.

Poor Finances

Difficult financial periods have always been a challenge for businesses, and no more so than in 2020, in which many business owners are suggesting that they are going to run out of money sooner rather than later. To make sure that your company can cope with tight finances, you should download a finance tracking app that can allow you to see all of your profits and expenses on one page. Tech can even help to save your company money by reducing the number of staff members that you need to employ, ensuring that you do not need to spend out on office space, and allowing you to cut the amount of paper and marketing materials that you need to invest in.

Talent Skills Gap

The skills gap has been prominent in many industries for several years. It makes recruitment increasingly hard, with companies struggling to find the skills they need in the ideal employee. Tech can help you to close the skills gap by allowing you to perfect better training schemes with AR and VR software and by using HR software that can help you to sift through resumes for the perfect candidate. This will allow you to build a thriving team around you before long.