As a UK Govt advisor urges businesses to reduce prices, how could workplace technology help?

Reader's Pick

With the Bank of England expecting inflation to exceed 11% in October, the UK Government’s cost-of-living tsar has urged businesses to do more to rein in prices for UK households.

David Buttress, a former Just Eat chief executive, explained in words quoted by Reuters that some of the money “spent on marketing and doing deals” should be refocused on “what really matters to people which is making their prices more competitive so their money goes further.”

In any case, your business might be able to slash costs by implementing any of the following corporate techs.

- Advertisement -

Cloud computing

If your office has many filing cabinets filled with paperwork and documents, you could be pleasantly surprised by how much you benefit from switching to cloud storage instead.

Though certain cloud services do incur a monthly fee, you could make back that money and then some as a result of your company’s cloud transition boosting productivity and minimizing stress. Cloud computing apps also conveniently update themselves.

Microsoft Teams

- Advertisement -

You need some digital means of keeping in touch with co-workers — primarily if some of them are split between offices or simply working from home.

Hence the rationale for using workplace communication software like Microsoft Teams — which, as PCMag UK explains, is even available for free.

Meanwhile, the enterprise telecoms firm Gamma can assist you in powering Microsoft Teams telephony and consequently providing your team with access to free calls.

Automation and AI

Contrary to what Google could lead you to think with its CAPTCHAs, offices up and down the country aren’t exactly populated with robot workers. However, you can still introduce a large degree of automation to many of your business processes.

Automation and artificial intelligence (AI) can handle various tasks once only left to humans; think the likes of organizing inboxes, managing payments and invoices, and inputting data.

Automating such routines can help you to reduce overhead costs and, unsurprisingly, the number of human workers you would otherwise have to pay for.

CRM software

Naturally, as a business, you want to not only attract customers but also keep as many of them as possible for the long run. However, if you are eager to foster increased loyalty in your customers, you need a good understanding of what drives them in their buying habits.

- Advertisement -

Customer relationship management (CRM) can help you to do all of this. It bodes well for the usefulness of CRM software that the market is on course to amass more than $80 billion in revenue by 2025, as SME News reports.

Webinars

What are webinars? The word ‘webinars’ almost answers the question, as they are web-based seminars. Therefore, they can do many of the same things as traditional, in-person seminars — except that they are held online, a difference with positive implications for your business finances.

For example, you could use webinars to share ideas and engage in networking without needing to book a venue or hire a caterer in preparation. Also, no one would need to travel a long distance simply to participate.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacewalk in...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's dominant...

Rajesh Bysani joins Brainly as its new CPO

A New York headquarter peer-to-peer learning platform, Brainly has announced the appointment of Rajesh...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

AI bot “ClaRAN” can spot radio galaxy too.

An artificial intelligence (AI) programme used to recognize faces on Facebook can also identify...

“WE BLOWIN UP MAYNE,” Mahbod Moghadam on HellaDoge & Mark Zuckerberg

On Saturday Afternoon, Mahbod Moghadam, Co-founder of HellaDoge sat down with the TechGraph editorial...

How is Fintech Industry utilizing AI to its best

Fintech is always constantly focused on developing better financial services for customers. The fintech...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countries around...

AI & Data Science have a bright future: Ankit Sinha, VP of Cloud Practices & Consulting, Searce

Speaking to TechGraph, Ankit Sinha, Vice President (VP) of Cloud Practices and Consulting, Searce...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...

Cloudflare eyes for IPO, hires Goldman Sachs for valuation

According to the Reuters reports, Cloudflare Inc, a U.S based web security company is...

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Adtech space has been dominated by a few DSPs: Mani Gopalaratnam, CEO of Resulticks

Speaking to TechGraph, Mani Gopalaratnam, CEO & CTO of Resulticks has said, "The programmatic...

Tech Trends for Integrated Business Services

Technology has changed the face of business like never before. This is the era...