Posted in Digital Transformation

Digital Transformation For Small Business: Key Areas To Leverage Technology For Growth

There’s a lot of buzz around the term digital transformation (DX). As a small business, you may wonder if it’s something you need to pay attention to.

It sounds like a fancy gimmick for large corporations with big IT budgets.

However, no small business can afford to ignore digital transformation. Don’t sweep it under the rug. You’ll likely miss out on opportunities that will set your business up for success for years to come.

Digital Transformation leaders outperform laggards.

Research conducted by Bain & Company revealed that digital leaders more than double the performance of digital laggards in their industries. Profitability follows the same pattern – 83% of the leaders increased their margins over the same period while less than half of the laggards did so.

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Posted in HR Process Automation

Top 10 HR Technologies For the 21st Century

Companies are striving to lower the cost of hiring, improve employee satisfaction, and increase talent retention. New software and technologies are being incorporated into many HR processes. They help attract and retain talent while increasing operational efficiency.

From all-in-one HR suites to smaller-scale but more agile “point” system solutions – e.g. ones that focus on a specialized area (e.g., applicant tracking, employee engagement, – there are many software platforms on the market. Choosing the right technologies to meet the needs of your organization and optimize ROI can be quite a daunting task.

How to Automate HR Processes in Days With Frevvo

To get the most of your IT budget, you should first devise a clear digital transformation strategy for the organization. You must also understand the latest trends in HR technologies. These trends help guide the selection of the right software for your company.

From cloud computing and AI-driven technologies to recruitment marketing platform and online learning portals, here are some key technologies to consider:

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Posted in HR Process Automation

Top 16 HR Trends For the 21st Century

Improving employee satisfaction isn’t just a “feel-good” kind of thing:

  • Happy employees are up to 20% more productive at work.
  • Disengaged employees are costing U.S. companies $450 billion to $550 billion per year.
  • Employee support initiatives increased employee satisfaction by 37% at Google.
  • Employee turnover is costing U.S. businesses $11 billion annually.
  • Companies with highly engaged workforces outperform their peers by 147% in earnings per share.

An outstanding employee experience can improve employee engagement, increase retention, increase productivity, and lower the cost associated with hiring and firing.

Download e-Book "7 HR Processes That Are Perfect for Automation"
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Posted in Financial Process Automation

4 Top Procurement Technologies for the 21st Century

In part 1 of this series, we discussed the latest trends in procurement for the 21st century. Building upon that, we’ll now highlight some modern digital procurement technologies and help you choose the right ones for your organization.

As more organizations are leveraging procurement technologies to increase operational efficiencies, reduce costs, and respond to market demand, it’s no longer an option to ignore the various digital transformation tools if you want to stay competitive and improve profit margins.

However, with the many solutions on the market, choosing the right technologies can be quite a daunting task.

To get the most of your IT budget, you should first devise a clear digital transformation strategy to guide the selection of technologies for your organization.

Here are some tools to consider based on the latest trends in procurement technologies (which we discussed in part 1 of this series):

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Posted in Financial Process Automation

The 8 Top Procurement Trends For the 21st Century

Recent advances in technology are creating profound impacts on many businesses activities. In particular, digital transformation is rapidly changing back-office operations such as supply chain management and procurement. Digitally transformed organizations increase efficiency, lower cost, and adapt to fast-evolving customer expectations.

To stay relevant, competitive, and profitable, businesses need to keep pace with new technologies. Procurement is no exception. New technologies facilitate e-procurement, contract repository, supplier performance management, spend analysis, supplier information management, AP automation, business networks, contract authoring, and more.

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