Maximizing Performance
April 28th, 2011
By Khalid Munir
Copyright (c) 2010 Applied Computational Solutions Private Limited
As international trade loosens, businesses face an absolutely new set of challenges which were never seen in the past. It was never as difficult to preserve companies bottom lines, as it is today. Smarter is the one who outperforms using technologies and those lagging behind could have devastating consequences. Process Automation on reliable technology platforms is one of the answers
The developed 21st-century societies and economies face strikingly similar challenges regarding technology and process automation. On the top of it there is an overall lack of preparedness to meet these challenges. The issue has been compounded by the general mistrust and large scale threat of terrorism which has plagued the HR provision to developed countries. Very few businesses have the capacity to institute mechanisms to retain and develop tomorrows HR needs. In a study conducted in some other context a lack of organizational preparation was noted. Close to two third worldwide and close to three fourth businesses in the US are confronted with the problem of unsuitable employees assuming higher-level positions due to the lack of available leadership talent. The most daunting challenge to the businesses in knowledge based economies is the knowledge retention itself which is necessary to cope up with a rapidly changing competitive environment. Pressure to innovate, generational differences, and, most notably, pressure to cut costs are the permanent cause of concern for the business leaders. This article explores a few of many steps businesses may take to retain a competitive edge in the coming years.
Businesses need to understand that process automation is essential to remain in the run on global 24/7 arena. A reliable and focused system can navigate a multitude of obstacles to achieve success in the most fiercely contested space. On the other hand, even a company with innovative products and a sound reputation may be driven to the ground by poor technology solution and an ineffective customer support mechanism.
There is a need to enhance and broaden awareness of the widening gap between customers expectations and the ability of businesses to fully materialize their vision over the coming decade as they struggle to survive in the looming recession. It is my very much considered opinion, however, that the majority of businesses are neither prepared, nor are taking the necessary steps to meet this challenge head-on.
Businesses need to be mindful of the fact that buying or developing automated processes may become more challenging over the coming years due to multiple reasons. So there is a requirement to collaborate with technology players as businesses expect their revenues growth in the near future. Majority of them do expect revenue growth, with the exception of a few.
This situation is going to be acute particularly in the developed economies, where cost of hiring the right resources to manage in-house activities are beginning to go out of reach of the most of SMEs. Businesses appear to be fully aware that they will soon face the dual challenge of increased competition for new hires, and increased danger of losing valued employees to competitors. Practical steps are required to be taken to align their organizational structure with the technological developments.
It is, therefore, incumbent upon todays businesses both as a short term measure and as a long term measure to depend heavily on institutionalized specializations and time tested technology solutions which can not only cut their cost but can also retain them in the 24/7 arena which is going to be an all time challenge for SMEs as well as the large size global players.
Additionally, as it will likely be more difficult to retain talent, businesses must foster a work environment that minimizes their dependence on dedicated resource retention of high-value employees. Successful businesses will make technology a top priority, even when resources are limited.
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