The corporate landscape of today is frequently in motion. Companies are confronted to uphold their enterprises appropriate in the face of fluctuating markets, whether these fluctuations are social, financial, or mechanical. No matter how successful a company is, it is susceptible to current trends and constantly embryonic new technology. Fortunately, some corporate executives are able to adjust to changing circumstances. Some people are not only adaptable, but they can also take advantage of changing habits and game-changing new technology to achieve massive growth.
Technology has correspondingly upgraded our capability to communicate with one another. The rise of mobile technology has blended almost seamlessly with communication software to create a hyper-real web of real-time information, whether it’s having your co-workers and employees available via text or video chat at any time or being able to send targeted promotional email blasts to prequalified customers while they’re shopping at nearby businesses.
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SOME NEWLY ADOPTED TECHNOLOGIES
1. Advanced Communication ways of meeting and relationship building
Every organisation relies heavily on communication as well as on information sharing. Today’s environment offers more selections than ever before, and technological advancements make it stress-free, faster, and more competent. Using systems like Slack, Zoom, Microsoft Teams, social media platforms, chatbots, and others on a regular basis has both benefits and cons. The capacity to track buyer-seller discussions and gain insights based on user activity is provided by sales enablement. With deeper intelligence, client information can be easily collected and leveraged to improve the customer experience.
When technology digs into customer data to help us produce personalised messaging, communication becomes more successful. Businesses may increase marketing productivity and reach customers by deploying automated communications across a range of channels. But we must keep in mind that if we go too far, we risk losing our ability to create client relationships—and our brands’ personal touch.
2. Remote Working Environment
Despite the fact that remote work has been slowly growing for the previous 15 years, COVID-19 compelled organisations that were not actively pushing a remote work environment to make the move faster than planned. “Companies of all types—private, public, non-profit, or start-ups—continue to see the bottom-line benefits of incorporating remote work into their business plans,” said Sara Sutton, founder and CEO of Flex Jobs Today’s environment provides more options than ever before, and technological improvements make it easier, faster, and more efficient than ever before. Regularly using technologies like Slack, Zoom, Microsoft Teams, social media platforms, chatbots, and others offers both advantages and disadvantages. Sales enablement gives you the ability to track buyer-seller conversations and receive insights based on user engagement. Client information may be simply collected and used to improve the customer experience with deeper intelligence.
Companies needed to pivot swiftly to ensure that their staff had access to the proper technology and infrastructure to support remote log-ins, video conferencing bandwidth, and project management tools so that they could continue to work on projects as well as share status updates. Instead of managing by the number of hours spent in the office, managers had to focus on employee production. There have been numerous advantages to this new normal. It’s not only easier to recruit and retain top personnel, but it also boosts productivity. A fascinating two-year Stanford study found that remote workers saw a weekly productivity bump comparable to a full day’s work! There’s more: it’s reduced real estate expenses, reduced carbon emissions, and given businesses a competitive advantage.
3. The Role of Artificial Intelligence
Artificial intelligence (AI) is transforming the world in commercial and consumer industries, and it has become a part of everyday life. This application of technology has altered corporate operations in practically every area, and it has become an essential strategy for businesses seeking to preserve a competitive advantage. Machine learning (processing large volumes of data fast and putting it into consumable context for people) to security, CRM, and even the financial and real estate sectors are just a few of the things AI can perform.
AI is used in sales enablement to track customers and forecast their intent to purchase based on their search trends, what they view and open, and other factors. Some fear that AI will eventually lead to joblessness, but the general consensus is that new jobs will be needed and new roles will emerge to ease the transition to this new environment. As AI replaces long-standing workflows, for example, individuals will be forced to integrate them. AI is progressing at a breakneck pace, and while the economic impact is unknown at this time, it will almost certainly have a substantial impact. “By maximising their time and automating tedious processes, AI will help small businesses provide more tailored experiences to their clients.
Using AI-enabled digital solutions can help organisations save time. Insufficient time is cited by 55 percent of small businesses as a significant concern, according to Sales force. As a result, AI is positioned to improve the efficiency of small business operations.
4. Buyer enablement
Buying in today’s world has gotten complicated, with buyers spending more than 60% of their buying journey on their own, with a massive amount of content and multiple stakeholders and decision-makers spread across various corporate units. If done effectively, the modern concept of buyer enablement empowers the buyer to become a product champion within the organisation. This necessitates the supplier collaborating with the customer to define the final business problem that needs to be solved and to provide the most pertinent information at the correct moment. Buyer enablement is achieved when sellers prioritise their buyers’ needs throughout the purchase process and position themselves as a trusted advisor.
5. loud computing
Change is happening at a faster rate than it has ever been before. Transformation to the digital age “drives fundamental change in how a company functions, maximises internal resources, and provides value to customers.” Cloud computing lays the groundwork for becoming more flexible, collaborative, and customer-centric. Cloud computing empowers organisations to outsource portions of their operations to third-party computers that can be accessed with the help of Internet. This enables flexible data packages as well as quick (on-demand) expansion and movement without the risk of outages, crashes, or data loss. Companies that use the cloud may develop faster, grow more efficiently, and even provide new market capabilities faster. This has given small and medium-sized firms access to resources that would have previously been too expensive for them, and it has levelled the playing field when competing against large corporations with far more funding.
Cloud computing has provided businesses with a highly scalable infrastructure that is always available. Because the market is unpredictably volatile, scalability has always been a major issue for businesses. Any infrastructural barrier might have a negative impact on overall growth while a business is flourishing and growing.
6. Virtual Personal Assistants
These days, virtual voice assistants are increasingly common. Bixby, Siri, and Google Assistant are among the most popular. Many households around the country also have smart home helpers like Amazon Alexa. In today’s work climate, investing in a voice assistant may be a wise decision. Voice assistants are capable of performing calculations, scheduling appointments, and even placing orders. There is no end in sight for a small business owner. As a result, a voice assistant can help lighten the load by doing routine, uncomplicated activities.
7. Systems for Content Management
The days of static websites that required someone to know HTML, CSS, and JavaScript to develop and update are long gone, thanks to systems like Word Press, which allow businesses to create entire corporate websites. Businesses of all sizes can quickly modify most information without needing to hire a web developer. On the other hand, specialists will continue to be required because these platforms can be extended and optimised in a variety of ways that change and improve over time.
8. Applications for Business Management
Business management has been transformed by cloud computing. Simply speaking, cloud computing is internet-based computing. They used to run applications or programmes from software downloaded on a physical computer or server in their facility; now, cloud computing allows businesses to access the same apps over the internet. It efficiently offers secure and scalable access to and sharing of computing resources as virtual resources. It’s adaptable, secure, and cost-effective, and it gives you quick access to your business management software from any location, at any time, and on any device.
B. Examples of some companies make our lives easier with development of various technologies
1. TATA ELXSI
In 1989, Tata Elxsi was founded with the objective of developing and marketing electronics, embedded systems, and software applications. Tata Elxsi has grown to become a global leader in design and technology services for a wide range of industries. Among them are automotive, broadcasting, communication, healthcare, and transportation. The publicly traded firm, which is part of the Tata Group, performs in the midcap range. The company has had success with artificial intelligence in a variety of sectors, including self-driving cars, video analytics systems, and so on.
Internet of Things, cloud, and smart mobility are some of the other technology-related subjects on which the organisation focuses. In all product categories, Tate Elxsi was awarded the winner of the NASSCOM Engineering & Innovation Excellence Awards 2021 for Engineering Service Providers. Financially, the company has done well. Over the previous five years, Tata Elxsi has grown at a CAGR of 13%.
2. KELLTON TECH SOLUTIONS
It is founded in 1993 and based in Hyderabad. Kellton Tech Solutions is an information technology and outsourcing company. The company provides services for Digital Transformation, Digital Connected Enterprise, SAP, Outsourced Product Development, and Digital Commerce and Marketing. They are focused on using AI to solve challenges that would otherwise take a lot of human intellect. The company does this by automating complex tasks helping businesses get more out of machines.
3. ORACLE
Oracle helps businesses automate operations with prebuilt AI and data-driven cloud apps, resulting in time and cost savings as well as a better customer experience as a result of the streamlined process. Artificial intelligence applications developed by the company can be used in a range of industries. These include cash flow optimization, receivables and payables automation, procurement, and inventory management for financial teams. Their sales software helps agents convert sales by locating high-probability opportunities. HR professionals can also use these apps to improve employee engagement and candidate quality. Their cloud-based solutions aid in process automation and the reduction of human error.
4. AFFLE
It was established in 2006. Affle is a multinational technology firm. The company’s major focus is on offering end-to-end App Marketing solutions. Affle uses relevant mobile advertising to drive consumer acquisitions, engagements, and transactions. To forecast one’s interests, their AI uses behavioural cues, marketing attribution, and transactional data from users. This enables them to target ads based on these preferences, improving the ad content for users. Affle also offers end-to-end solutions for businesses to engage with mobile users. In the United States, they now own three patents for consumer-acceptable advertising. The company has 12 patents filed in India, including ones for digital fraud detection, push alerts, and partner pixelling for user identification, among other things.
5. KELLTON TECH SOLUTIONS
Kellton Tech Solutions, founded in 1993, is a Hyderabad-based information technology and outsourcing organisation. The company provides services such as digital transformation, digital connected enterprise, SAP, outsourced product development, and digital commerce and marketing. They’re focusing on using AI to solve challenges that would otherwise demand a lot of human intelligence. This is done by automating complicated tasks and supporting businesses in getting the most out of their machines.
6. HAPPIEST MINDS
Happiest Minds is a 2011-founded IT consulting and services company. Clients can take advantage of artificial intelligence, cloud, internet of things (IoT), block chain robotics/drones, virtual/augmented reality, and other services. The company uses artificial intelligence for language processing, image analytics, video analytics, and new technologies like AR and VR. In addition, the firm aids businesses in integrating robotic smacking AI, which saves time and money. The company will be placed on the stock exchange in September 2020.
7. CYIENT
Cyient is an engineering, outsourcing, and technology solutions firm that was founded in 1991. They give AI technologies that help businesses reach their objectives. The company, based in Hyderabad, was also ranked among the top 30 outsourcing firms in the globe. Financially, the company has grown at a rate of 10.75 percent every year, with sales increasing by 16.16 percent. Since 2000, the company has made six acquisitions, all of which have aided its expansion.
8. COFORGE
Coforge is a software development company that provides end-to-end solutions. NIIT Technologies was the previous name of the company, which was created in April 2003. Image identification, robotic process automation (RPA), natural language processing (NLP), and workflow automation are all possible with deep learning, machine learning, multi-currency, multi-lingual, and multi-channel experience. To enhance revenue and expand it’s geographic and client reach, the organisation has made a few acquisitions in the past. In April 2021, Coforge completed its strategic investment in SLK Global Solutions. SLK Global has in-depth expertise in the North American banking and insurance industries. It has a number of long-standing and scalable relationships with clients who have a strong potential for expansion.
9. SAKSOFT
Saksoft is a leading provider of information management solutions to Fortune 500 companies around the world. The company is a mid-sized IT firm that provides end-to-end business solutions that utilise technology to assist clients in improving their performance. Its main goal is to achieve transformations through increasing AI and automation, as well as higher efficiency, productivity, better customer decisions, and service innovations. Saksoft accelerates digital transformation and leverages intelligent automation to solve crucial business problems using modern technologies such as IoT, AI, machine learning, and automation. Saksoft is a leading provider of information management solutions to Fortune 500 companies around the world.
Change in technology is unavoidable. It will have an impact on enterprises’ internal and external surroundings, as well as core managerial functions. Managerial values are unique to them. As a result of this technological advancement, Change will place a greater emphasis on the organization’s ability to plan for it. Future Technological advancement is neither beneficial nor evil in and of itself. Its influence on the acts of each of us has an impact on the organization’s management and society as a whole. Technology has opened up a new market online for many small firms. Many businesses still provide in-person assistance to customers, but many also have internet presences. E-commerce allows small enterprises to reach consumers outside of their immediate geographic area, which is especially useful for niche items. When you do business online, you can do more than just make sales. Firms might offer prospects the option of organising business consultations and service appointments through calendar systems integrated into their websites.
Author Bio
OWN Perspective :
Viewed from the angle of field reality and going by anyone’s own exposure /experience in terms of ‘take aways’, the impact of ‘AI’ of a negative /adverse kind is mostly attributable to the cavernous gap between the aimed/avowed advantages of technological advancements and the failed’ -ing essential factor of effective ‘communication’ / persistent continuity of ‘interaction’ with the beneficiaries / stakeholders!?!
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https://taxguru.in/income-tax/section-143-1-income-tax-demand-notice-due-mismatch-tax-credit.html
is of direct illustrative relevance!
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