Digital transformation is an aspect that all business organizations are betting on to enhance their growth and adapt to new market trends. Technology is a great ally for cutting unnecessary spending and keeping your budget under control. Digital transformation and its convergence with the overall digital strategy, covering operational, strategic and management areas. Let's discuss how Nextlivin can reduce building managers' operating expenses.
Technology and business productivity
Companies are constantly looking to improve the efficiency of their processes, and technology enables its application in countless situations in the business world. Productivity gains result in three ways:
- Reducing time in the execution of the process.
- Eliminating or replacing total or partial tasks in the process.
- By incorporating new functionality that adds value to existing processes.
Achieving disruption requires increasing cost savings above 40%, because lower rates will not be effective against changes introduced by new digital companies, which with new products and supply chain levers 4.0 achieve very high disruption and potential savings, improving services with investment less.
The traditional productivity increase range from 3 to 5% per annum, has been eclipsed by digitalization, with a demonstrated cost increase potential of well over 25%, combining remote monitoring and robotization approaches, and through process optimization placing labor cost increases in the percentage above 60%.
In this way, initiatives such as document automation or digitization and cloud storage can provide such benefits
- Speeds up time spent on mechanical tasks.
- Optimizing processes.
- Save material costs.
- Direct access to information digitally, from anywhere and anytime.
- Reducing environmental impact.
A key aspect of reducing costs with technology
Reducing costs, for all companies, is one of the main goals. It's safe to say that the adage in the business world is to achieve maximum profit at the lowest possible cost, and the use of sustainable technology also helps save money.
Below we list some of the main aspects in which companies can reduce costs:
- Installing software that is able to centralize the entry of information from each area and make it available to the whole company in real time, has become the best weapon for making the right decisions to reduce costs.
- Bet on the cloud. Your information can be securely hosted on cloud-based systems, allowing up to 50% savings over traditional physical infrastructure management.
- Internet Everything. By introducing IoT, we can implement a system where each machine has the ability to measure and communicate all the variables for analysis. This allows us to anticipate maintenance and reduce downtime.
- Automate the tasks and processes of each department so that management becomes smoother and more efficient.
- Reducing the margin of error. Some of the avoidable costs that companies incur are due to human error. Reducing them to a minimum should be one of the goals of company managers.
- Better inventory management, through the use of appropriate software, will allow companies to improve inventory reliability.
- Reduce machine and employee downtime. Damage or errors in work orders can result in missed deadlines and reduced productivity and quality.
- Personnel costs. Manage the scheduling of interventions that can avoid unnecessary travel that incurs excessive costs.
- Energy costs. Among the biggest expenses incurred by any company is the energy bill. Digital technology makes it possible to adhere to maintenance schedules and keep systems and equipment in optimal condition.
- Manage payments and billing well. A good management software, which includes a work order control tool, will give us a detailed view of the resulting budget at any time, avoiding any errors that may arise.
- Stationery and administration. Handling document managers that enable centralized and digitized information will allow for savings not only in paper costs themselves, but also in postage, toner, and personnel.
That's how Nextlivin can reduce expenses
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