Sales executives, we know businesses have faced a barrage of challenges in the last few years, from pandemic constraints to inflationary pressures. For businesses, the ability to adapt and withstand the changing economic landscape is crucial. Still, there is reason to be optimistic. The use of strategic tech stacks and scaling are powerful tools to not only withstand economic uncertainty but to avoid layoffs at your company.
Here are four ways these tools can help not only your company, but your employees:
- Increased Productivity: Your tech stack is an indispensable weapon against inflation-if used correctly. If used strategically, this customized suite of software, web applications, and digital tools will allow you to streamline operations without increasing costs. A carefully compiled tech stack can greatly reduce repetitive tasks. Whether it be through their use of a content management system (CMS) or CRMs, businesses can leverage tech stacks to increase productivity without increasing costs or diminishing their workforce.
- Increased Adaptability: The ability to scale-to maintain or boost your company’s performance despite increasing demands-is a necessity in today’s market. In this way, a carefully crafted tech stack allows your company to adjust to changing demands. Automation is one way to combine technology, such as AI, to not only improve productivity but increase scalability. Cloud-based services, modular software architecture, and scalable infrastructure enable businesses to adjust their operational capacity with economic fluctuations, such as those precipitated by inflation.
- Reduces Overhead/Facilitates Remote Work: Investing in a remote work tech stack can not only reduce your operational overhead but can also allow you to cast a wider net when it comes to attracting the right talent for your company. While remote work is trending downward, providing employees the option to work from home (wherever that may be) could provide you with a competitive advantage.
- Improved Customer Satisfaction: From AI-driven customer support to e-commerce platforms, companies are increasingly on board with technological innovations to improve customer experience. In fact, according to a 2023 CMO Survey, implementing AI-specifically in marketing-has improved customer satisfaction by 6% while helping to lower marketing overhead costs by an average 7.2%. Clearly, this is a useful technology to have in any company’s tech stack and will not only improve customer experience but also brand loyalty.
The financial pressure of the last few years has seen many companies decide to right-size. But this isn’t the only option. Carefully curated tech stacks and scalable solutions offer hope by increasing productivity, improving adaptability, reducing overhead and other operational costs, and improving customer satisfaction.