Modernising management: how digital strategy improves transparency and efficiency

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The digital age is transforming the way leaders manage their businesses and serve their clients. Companies at the head of the curve will reap the rewards, while the rest will be left behind

According to Forbes Magazine, 87 per cent of business leaders think digital will disrupt their industry, but only 44 per cent feel they’re prepared for the impending transition.

That’s good news for innovative leaders, because:

1. It’s easier than ever for organisations to modernise their management practices through digital technology (more on that below)
2. Digital transformation can revolutionise business processes, making organisations more transparent, more efficient and better able to serve their clients – outcompeting the late adopters and absorbing their market share

Continue reading to learn how a simple, targeted digital transformation can modernise management practices and boost a company’s bottom line.

Streamline workflows and manage operations with a OneStop Client Interaction Hub

Client-facing apps have been very much integrated into consumers’ day-to-day lives for things such as depositing cheques or booking healthcare appointments, but a OneStop Client Hub goes much further than that.

Picture a financial services company that gives its clients access to their own branded portal where they can call or text advisors (skipping the hold music), initiate trades, schedule meetings, sign legal documents electronically and complete anything else related to their business needs. Additionally, they would experience the added benefit of gaining full insight into the history of interactions. This paves the way for creating a better service experience.

A OneStop Hub is a digital solution that gives clients convenient access to end-to-end business service needs, all from their smartphones, tablets or desktops. It’s perfect for high-touch businesses where personalised relationships are paramount and client accounts need to be managed for quality service delivery.

Unprecedented transparency and efficiency

Digital transformation makes it easier for clients to connect and do business with companies, but that only represents half the equation. A OneStop App is a revolutionary approach to management because, until now, it hasn’t been possible to achieve this level of transparency and efficiency.

A OneStop App consolidates all customer communications in one centralised location. This empowers management to:

• Track every interaction related to an account
• Identify and address any unanswered client requests
• Easily search through all communications
• Access collaborative and signed documents
• Task-manage internal teams
• Schedule and conduct meetings
• Keep auditable records and eliminate unnecessary paperwork

Digital gives executives and business owners a level of insight and control over their business that simply isn’t possible with antiquated systems. By consolidating every customer interaction on a OneStop App, businesses can completely transform their processes to reduce costs, retain customers, streamline workflows and dominate their market.

Companies can also tie task lists to any account to:

• Enhance their service efforts
• Keep every employee who interacts with a client informed about that client’s needs
• Spot gaps in processes in order to optimise them
• Identify practices that improve client retention (and double down on what works)

A OneStop Hub is a simple, straightforward digital transformation solution that offers tremendous return because it improves the client experience, while also enabling companies to streamline their internal processes for more efficient organisational practices.

Digital management & the just-in-time model

Just-in-time delivery is a model commonly used in manufacturing and logistics, but its reach is much broader than that. A retail store, for example, could use historical data surrounding product sales to order just the right amount of a certain item to keep up with consumer demand, without over-ordering items that won’t sell or inventory that will go to waste, such as perishables at a grocery store. This reduces costs and improves the bottom line.

The just-in-time approach is extremely effective in client-centric service industries such as banking, healthcare, real estate and other high-touch sectors. Clients in these industries have inquiries and requests around-the-clock, but it’s usually not economically feasible to staff companies 24/7.

Even during normal business hours, demand for client support fluctuates. Significantly reducing or eliminating hold-times would require over-staffing much of the time. Just-in-time service means answering clients’ questions in a timely fashion, within a timeframe that works for them. Digital technology makes this possible.

Modernise your business today with your own branded OneStop App, powered by Moxtra. Get started today with your secure digital portal

Originally published on Business Reporter