Technology’s Role in Reducing Business Costs

From a simple interaction consisting of messages to complicated data analysis and reporting tasks, technology helps not only speed the process along but also enhances the utility of the communication and helps the business save a lot of money. Technology also helps companies reduce costs significantly, and here’s how:

Happy Customer Relationship and Lower Marketing Cost

The new generation of consumers have smartphones, and they want to use them to have two-way communication with the brands. Though it seems like a hassle, the consumer’s need for interaction with the brands is a blessing in disguise. Building engagement with the customer is a way of marketing the brand, but it also enhances the client’s relationship. And to our friends at the marketing research companies, nothing convinces a customer to try a product or service more than friends and family. If you’re able to make the customers happy, the customers will make you happy too. They will become your marketer. When their friends and family come to the business, the average cost of acquisition will decrease as its marketing investment in one customer has translated into many leads. A few autonomous emails appreciating the clients or asking for valuable feedback, and responding promptly to their questions and concerns will go a long way. 

 

Integration and Operations 

One of the innovations of technology is business-to-business integration. In the early days, if a company wanted to order supplies, it would have had to reach out to a supplier via mail or a phone call. For instance, in the cleaning service business, a company’s crew can lose precious time contacting the supplier for cleaning equipment and materials. Integration between the suppliers and the cleaning business eliminates the need for excessive communication. Instead, the supplier’s task status and the client’s requirements and any other changes or factors are communicated to and fro instantaneously. The technology eliminates the need to hire a human resource and makes the process error-free and infinite times faster. Furthermore, if many customers have to be served on the same day, an optimal route must be taken. It would certainly not be ideal to risk wasting labor hours and fuel costs. That’s where technology comes in to help determine the optimal course with the highest productivity and the lowest wastage.

Summing Up

A home service business ended up saving the costs mentioned above by opting for Arrivy as a technical solution. Amongst its problems was that the time of equipment delivery was uncertain, and the crew would have to wait an unknown amount of time, which cost the company valuable time. Moreover, there was a massive gap in communication between the crew and the customer. With the customer not knowing when to expect the crew and the crew being unaware of things as simple as whether the customer would be home or not when they visit. Arrivy helped the business integrate with its suppliers and teams on a single operations management software, which enabled it to keep track of supplies and its crew in real-time. Arrivy also enabled its clients to allow their customers to know the number of crew members, their location, as well as their estimated time of arrival via the tracking software so that there are only productive visits, and that time is saved at both ends.

Here’s what Arrivy was able to help it achieve:

  • 96% on-time arrival to customers’ residences
  • 86% on-schedule completion 
  • 100% customer satisfaction

This is just one example of companies that have reduced business costs using Arrivy’s technology. Our clients have reduced business costs through vigilant management of their operations and unparalleled customer engagement, and we look forward to more businesses being added to that list.

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