5 Advanced Technology Examples To Improve your Business

 5 Advanced Technology Examples to Improve Your Business

We have done a roundup for you of the following 5 advanced technology examples that are changing the business environment:

1. Document Data Extraction 

2. Robotic Process Automation 

3. Workflow Tools

4. AI Assistants 

5. Low- Code Applications 

WEB CREATION 

1. Document Data Extraction

Intelligent methods for extracting data and processing them are another example of advanced technology that can be a huge benefit to a modern business.

Workers have for many years become accustomed to transcribing data from a document and manually entering it into a system of record.

Document data extraction in action

A business is processing applications for its services manually, requiring employees to pdf documents and then input the data they see into their work computer.

This takes many hours and decision makers are dissatisfied with how slowly it takes for them to respond, so they implement a document data extraction solution to help.

Now, using the solution, PDFs are automatically parsed, scanning each field and reporting the information to a repository, where an RPA bot can then take over the process.

Extracting data from documents like this means workers can spend their time doing something on more valuable operational work, while they’ve saved time and quickened the process.

2. Robotic Process Automation

Robotic process automation (RPA)  is an excellent example of advanced technology for SMBs.

Automated bots are excellent at carrying out repetitive jobs much faster and with much more precision than human counterparts.

Bots are pieces of software specifically configured to perform particular tasks, like data entry; supply chain management; and data gathering.

Bots can operate these complex functions 24/7 without assistance and make fewer mistakes than human.

3. Workflow Tools

One of the chief concerns of a business undergoing a digital transformation is improving data workflow within the organization.

With the advanced technology of solutions like Enterprise Content Management, digitized data can now be efficiently processed and stored.

From here, it’s a relatively simple step to get that data downstream to the right people at the right time, regardless of department.

Workflow tools, specifically cloud-based systems, are excellent at proving platforms for organizing work processes and projects within teams.

The functionality of these tools extends to management best practices, such as approval routing, data validation, and ensuring the integrity of data before it goes into your ERP system.

4. AI assistants in action

A business is consistently being swarmed by customer queries about their products and service. Customer support staff are replying as fast as they can, but it’s not enough, and customers are bouncing, losing them business.

They decide to implement a chatbot that can answer the most frequent questions quickly to site visitors, alleviating staff from repetitive questions and allowing them to spend more time on other queries that need their time.

They are able to respond quicker and handle multiple requests simultaneously using the chatbot.

Chatbots are also scalable, meaning that, if there’s an influx of users, they can be scaled up to accommodate demand and then scaled down during less busy periods.

5. Low-Code Applications

The current rate of expansion for the managed services market is a result of SMBs increasing their expectations for what platforms they use in every aspect of their business; from their CRM to their mobile platform.

The gap between off-the-shelf software capabilities and the needs of workers on the ground is growing.

Companies want customized solutions for unique processes, and when they don’t have the correct procedures, users take matters into their own hands, inventing ad-hoc methods to fill the gaps.

This will typically lead to tribal knowledge and siloed organizations, making onboarding, for example, difficult for new hires.

Fortunately, industry-leading low-code platforms like Mendix are readily available to SMBs of any size and offer the opportunity to address needs an off-the-shelf solution cannot.

Low-code development means app-building tools which can tackle or optimize complex and specific tasks—it’s as simple as dragging and dropping and takes less time than regular development.