Businesses can save money, increase customer satisfaction and work more efficiently than ever before because technology makes it possible.
By Megan Totka
In this fast-paced global world that never seems to sleep, companies need to keep up with the demands of their customers. Technology that allows businesses to streamline processes and automate the front and back ends of business have revolutionized the customer service.
Take a look at these 3 industries where technology has completely changed, and much improved, business processes.
Banking
Long gone are the days when everyone would head to the bank on Friday to cash their paychecks. Thanks to technology, banking is automated. The entire industry has drastically changed as a result of banking mobile apps that allow users to move money around, view accounts and even cash a check all from a mobile device. These programs can track a customer’s life cycle – something that also comes into play when it’s time for company audits. Banks are even using their websites for self-service loan applications. Self-service experiences have expanded exponentially since the banking industry has invested in omni-channel applications.
The adoption of this technology has saved a great deal of money as the need for physical locations and large teams at each site are slowly dwindling. Technology like RPA or robotic process automation helps bankers simplify the banking onboarding process and streamline the daunting data entry that goes along with the financial industry. Customers appreciate the convenience and love the fact that their accounts are now available 24 hours a day, 7 days a week.
Healthcare
Technology affects every aspect of today’s world, and healthcare is an area that feels an immense impact. Technological breakthroughs change the way healthcare is delivered. People no longer visit a single physician for all their ills and quick access, both for patients and their providers, is important. This is one reason the automation of the healthcare industry has taken over. The adoption of electronic medical records saves time and promotes improved data management and coordination. Healthcare providers need to make sure their network infrastructure is optimized for security and speed.
As healthcare organizations work to improve financial and administrative portions of their business, they are turning to strategic technology applications to automate their files, lower costs and increase efficiency. The positive changes technology has made in healthcare will continue to develop in the future, from breakthroughs in research and treatments to new ways to practice medicine.
Insurance
The insurance industry can be very complex and confusing. Technology helps streamline and simplify various industry-related processes. Many of the business processes in this industry involve multiple steps and a checklist of requirements. Technology helps automate claims management and internal systems. It also greatly impacts the ability to provide excellent customer service with the help of omni-channels. These channels allow customer service representatives to have uninterrupted conversations with customers across any series of channels in any order. Omni-channels provide a seamless experience whether the customer is shopping through an automated phone system, through a mobile app or in a store. Customer service is much more efficient because the same set of strategies and rules can be placed in a library and reused as needed at any time. Technology allows businesses to provide better customer service to increase consistency and customer satisfaction.
These are just three of the many industries that have reaped the multitude of benefits from streamlining their business processes. If you have yet to implement technology into your planning processes, it’s time. Business technology will enhance and improve the way you conduct operations, boosting customer loyalty and retention.
Megan Totka is the Chief Editor for ChamberofCommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. Megan can be reached at megantotka@gmail.com Website: www.chamberofcommerce.com
Business stock photo by Sergey Nivens/Shutterstock
