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Tag: business plans

5 Emerging tech trends for 2023

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The tech industry grows exponentially every year and 2022 was no different. This year we’ve seen exciting tech trends like cloud computing and decision intelligence grow. 

So as the year draws to a close, we thought it’d be interesting to take a look at some of the emerging tech trends for 2023. 

 

          1. Industry Cloud Platforms 

Cloud computing has definitely boomed with the huge emergence of SaaS and is set to continue developing as the demand for cloud computing increases. 

So what are industry cloud platforms? 

They are essentially an all inclusive platform with various cloud applications that users within a business are able to adapt to specific industry needs [1]. While cloud applications usually provide a few business solutions, an industry cloud platform encompasses all cloud applications that are useful to a business. 

This emerging trend is beneficial for businesses as the adaptable nature of the cloud platform accelerates the adoption of cloud technology. While 94% of enterprises already use cloud computing [2], implementing their use is still slow. This is due to various reasons including: too much choice/information to sift through when deciding between offerings, large variations in price points and hard to use applications. 

That’s why at Devyce, we’ve made our solution super simple for you! We provide the hybrid business phone system for the future of work so you can have two numbers on your phone – all on one handy app. Signing up only takes seconds! Don’t believe us? See for yourself over on Devyce 😏

 

          2. Super apps

Much like industry cloud platforms, super apps are “like Swiss army knives with many tools that serve a purpose” [3]. These are apps with multiple “mini apps” within that can be added or removed per the user’s needs.

Super apps are developing to encompass commonly used app services such as messaging and financing apps all in one place, allowing individual users to tailor their user experience. They will also have applications in business as the technology develops to include enterprise mobile and desktop experiences [3]. 

The technology is still fairly new but is expected to grow in 2023 so we are excited to see where it will take us and businesses! 

 

          3. Adaptive AI

Traditional AI technologies have been widely applied to industries to automate decision making by utilising advanced analysis and logic based techniques [4]. However traditional AI systems need to be programmed to update their processes when there are new insights and developments to its application. Adaptive AI eliminates this as it absorbs learning as it’s being built [4]. 

The pandemic had highlighted to many that flexibility and fast adaptability are crucial to businesses. Adaptive AI technology aims to provide this flexibility to companies as it is constantly learning and updating their models therefore making companies more resilient to unexpected changes in industry. 

Implementation of adaptive AI technologies is set to increase in 2023 as the technology develops and will greatly improve responses to real world changes as well as broaden decision making processes. 

 

          4. Wireless Value Realisation 

This trend is all about integration of various wireless technologies to create a more reliable and cost efficient tech foundation for businesses [5]. Gartner expects that by 2025, 50% of enterprises will be using networking services that provide value further than communications [6]. 

The development of 5G is transforming how technologies work together to solve problems and improve existing models as it increases speed of connectivity and access to data in real time. As we continue into 2023, it’s expected that the use of wireless technology will go beyond connectivity and offer wider innovative value. 

 

          5. Sustainability 

Green technology has risen to the top of priority lists for many enterprises and many look to develop more sustainable tech frameworks within the business [6]. Consumers are becoming increasingly interested in a company’s environmental and social governance as it becomes a leading factor in consumer decision making. This is pushing companies to revise their energy and material efficiency of IT services. 

 

Businesses have been using technologies such as AI, automation, advanced analytics and cloud services to reduce their environmental impact as well as provide consumers with the tools to track their efforts towards their sustainability goals. This trend will continue to grow and by 2025, Gartner predicts that 50% of CIOs will have performance metrics tied to their IT sustainability within the organisation [6]. 

 

If you’re looking for ways to improve your company’s sustainability efforts, have you considered the impact of what having a work phone does for your carbon emissions? 

Devyce can help you to reduce your carbon footprint from phones by providing you two phone numbers on your personal phone so you can eliminate the work phone! Find out more about how Devyce works here

So that rounds up some of the emerging trends in the tech industry for the coming year! Are you as excited as we are for the growth and development of these trends? Head over to our socials to share your thoughts! 

 

Reference articles: 

[1] https://www.gartner.com/en/articles/what-are-industry-cloud-platforms

[2] https://webtribunal.net/blog/cloud-adoption-statistics/#gref

[3] https://www.gartner.co.uk/en/articles/what-is-a-superapp

[4] https://www.gartner.com/en/topics/artificial-intelligence

[5] https://shapeitrecruitment.co.uk/gartners-top-strategic-tech-trends-for-2023/

[6] https://www.forbes.com/sites/peterhigh/2022/10/19/gartners-top-10-strategic-tech-trends-for-2023/?sh=105420514cb4

How you can leverage technology to reduce pressure on customer support teams

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The demand for customer support has increased greatly over the years, putting pressure on companies to meet consumer demands. However, many businesses struggle to keep up due to lack of resources and evolving landscapes for customer support teams. 

In a survey carried out by Intercom [1], it was found that the top challenges faced by customer support teams are:

  1. Poor workflow efficiency
  2. Attracting and retaining quality staff
  3. Inefficient handling of customer queries

Support teams can leverage technological advances to optimise their way of working in order to adapt to growing demands. Here are a few ways you could utilise tech to alleviate the pressures your customer support teams face:

 

        1. Use a phone system that supports remote work 

Customer support teams have reduced in size due to the pandemic resulting in increased pressure on staff. Team leads have also faced difficulties attracting and retaining staff due to large scale burnout. 

To overcome this and adapt to the changing landscapes of work, support team leads should look into investing in phone systems that support remote working like Devyce. 

With the Teams Plan on Devyce, you can provide your employees with two numbers on their phones allowing them to work from anywhere meaning employees can prioritise their wellbeing. This will also enable hiring of talent remotely – an attraction point in hiring which could lead to increased retention of staff. 

 

        2. Use a phone system that facilitates call groups and forwarding

Customer expectations have grown and only 24% of support teams surveyed stated they were confident they could meet them [1]. Often customer queries can’t be answered by the first person they get in contact with. The biggest challenge here is transferring calls to the right person on the team in a timely manner.  

To improve the efficiency of your customer support service, look out for phone systems with features to aid your customer’s journey. For example, on Devyce’s Teams Plan you are able to set up an auto attendant which filters inbound calls to the relevant call groups, streamlining the workflow and minimising wait and transfer times. 

        3. Utilise CRM and analytic software with your phone system

Poor workflow management is a key reason for staff burn out. To optimise, team leads need to regularly revise operations by setting up and tracking call metrics. This is hard to do on traditional phone systems so companies should explore newer phone systems. At Devyce, we offer a Teams Management Portal – a platform to view call analytics, allowing optimisation of workflow to meet goals. 

The Teams Plan also offers integrations with CRM softwares like Hubspot so you can manage your customer’s journeys. Creating an integrated tech stack improves workflow efficiency as it reduces the need for switching between softwares and ensures all team members can quickly access relevant data to handle customer queries. 

 

Leveraging tech to optimise your support service strategy is the key difference between companies that exceed customer expectations and those that fall behind due to not having the infrastructure to handle the growing demands. Help your team flourish today by embracing innovative advances in technology with Devyce. 

 

References:

[1] https://www.intercom.com/resources/books/customer-support-trends-emea-2022

 

The strain placed on businesses that provide a work phone

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It’s time to stop carrying two separate phones and avoid using your personal number at work. 

Did you know that issuing a work phone and allowing personal numbers to be used can place strain on three focal areas of your business, its economic prosperity, the environment, and your employee’s well-being. Here’s how…

 

  • The economic prosperity of your business

Giving out a work phone is uneconomical. Especially when the majority already have a perfectly usable phone that they can just simply port a new number into.

An iPhone’s price can range from £300-900, that’s a large expense for any business. Considering also that this investment may only last a few years due to the constant upgrades and technology advancements.

 

As we are slowly transitioning back to normal life after COVID-19, business travel will inevitably continue to increase, and that alongside BREXIT means one thing… increased roaming charges when you send your employees abroad! 

Productivity. A new buzzword. Productivity is vital for a company’s profitability and ultimately its long-term success. But how are businesses tracking your productivity on a personal device? The answer is that they are struggling, as 40% of managers struggle to monitor performance, placing strain on businesses [1]. But by porting a second number onto an existing device, using Devyce, you can improve your business’s productivity and communication through the management portal. The portal allows transparent reporting of your employee’s data, so you can get the most out of every employee and know when to reward them or promote those that are excelling. 

Teams Plan – Devyce 

  • Your Employees

Using a personal number at work is accentuating the ‘always on’ mentality because you can still receive calls ‘after-hours’ to your main phone number, meaning you are always on the clock. This leaves your employee’s work-life balance far from balanced. This can lead to an array of negative effects, highlighted in a US Research study that found receiving messages after working hours increases negative emotions, stress and insomnia [2]. As well as excessive smartphone use affects your cognitive and learning skills. Ultimately leading to employee ‘burnout’; a recent study found that 77% of American workers have experienced [3].

A solution: It has been found that using your personal phone, with a second number, can rebalance your work-life and relieve the above effects as it is easy to clearly differentiate between work and personal calls.

Do Not Disturb Feature

Without this clear differentiation, all calls look the same, whether a personal or a work-related call. This means you don’t always know how to respond when answering the phone, which can leave employees feeling that they’re always on.

  • The Environment

Sustainability is a fundamental area to consider in your business today due to its importance for investors, employees and consumers. However, smartphones are a large contributor to the carbon footprint and are killing the planet. 

Did you know that…

  • By 2040 it is predicted that smartphones will have the biggest carbon footprint in the tech industry [4].
  • Just one iPhone X alone creates 79kg of CO2 in its lifetime [5].

By removing the need for second devices, you can lower your carbon footprint, lower your expenses, retain happy and healthy employees and in turn impress your stakeholders!

 

References:

[1]

https://hbr.org/2020/07/remote-managers-are-having-trust-issues 

[2]

https://www.thejakartapost.com/life/2020/06/28/turning-off-your-work-phone-and-emails-could-help-reduce-after-hours-work-stress-study.html

[3]

https://www2.deloitte.com/us/en/pages/about-deloitte/articles/burnout-survey.html

[4]

https://www.irishnews.com/magazine/science/2018/03/02/news/how-our-smartphones-are-hurting-the-environment-1268849/ 

[5]

https://reboxed.co/blogs/outsidethebox/the-carbon-footprint-of-your-phone-and-how-you-can-reduce-it

Why you should apply to jobs even if you may not fully qualify for them

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The corporate job market is at an all-time high, with a record number of job openings. Specifically, the graduate job market is soaring. The number of vacancies has risen by 59% and is set to see an expected 7% salary rise, compared to the figures released in May last year [1].

Despite this boom, entry-level jobs used to be the leading pathway into the workplace for new graduates but now many require prior experience. This was highlighted in a 2021 study that found that 34% of graduate-level jobs and 24% of junior jobs in the UK require at least one year of work experience [2].

Scrolling through numerous job websites and spotting an Entry Level Job that seems interesting, is quickly scrolled past when the dreaded phrase ‘two years of experience required’ is read and this can be incredibly frustrating. This can often be the only element a candidate is missing. Yet, women hold back if they don’t meet 100% of the criteria, while men only apply if they meet at least 60% [3]. It is important to remember that no candidate can meet 100% of the criteria. As there is simply no such thing as a ‘perfect candidate’.

Often this requirement is merely just a guideline and not a necessity. Employers also use this to narrow down the applicant pool, to avoid them getting flooded with unqualified candidates that have absolutely no knowledge of the industry [4].

Don’t let this requirement limit you.

 

 

 

 

 

 

There are numerous real-life stories that support this advice, including a recent article written by Janet Phan and published in the Harvard Business Review sharing her story. She found a job outside of her expertise which required skills she did not have. Yet, she applied anyway. This resulted in her landing a job at a major tech company! So, her advice would be, apply! [5].

We’ve asked one of our interns, ‘Kate’ who is fresh out of university, about her experience and her advice/ tips. 

Kate:

Finding a job straight out of university is a difficult and daunting task. It is incredibly frustrating when you search for hours to find a job that interests you, and you see you need years of experience. Why would I have years of experience, I have just finished university. 

After speaking to friends, family and industry experts I have taken away 5 incredibly valuable pieces of advice when faced with this dilemma. Firstly, there are many ways to tweak your C.V to work around the requirement. 

  1. Holm in on your transferable skills. Speaking from experience, as someone who entered the job market with no industry experience. Using these transferable skills when writing your C.V or a covering letter is a great idea!

  2. Don’t underestimate the importance of a good covering letter. 

I managed to slip these transferable skills into my C.V by including details about my university projects or modules I completed. I tailored each one I sent, by including different keywords that were in the description of that particular job. 

  1. Read the job description!

  2. Prepare! If you do manage to get an interview, preparation is key! Make sure you have spent time researching the company, their values, their culture, what they do, and any of their recent projects. Prepare for any questions they may ask you, but try not to over prepare! Get a good balance, you want to be yourself and you don’t want to seem scripted or answer the wrong question because you heard what you had prepared for!
  3. Be confident and take risks. At the end of the day, what’s the worst that can happen? They say no. At least you tried. You didn’t lose anything.

 

OR take a step back. You don’t need to rush, try and get some experience, this is not only good for filling that ‘missing experience’ experience but can also help you find your niche! An internship is a great idea!

 

References:

[1]

https://www.cityam.com/uk-graduates-set-to-enter-strongest-job-market-in-years/

[2]

https://www.linkedin.com/business/talent/blog/talent-acquisition/viral-post-asks-why-entry-level-jobs-require-years-of-experience

[3]

https://business.linkedin.com/content/dam/me/business/en-us/talent-solutions-lodestone/body/pdf/Gender-Insights-Report.pdf

[4]

https://upjourney.com/why-do-entry-level-jobs-require-experience

[5]

https://hbr.org/2022/07/apply-to-a-job-even-if-you-dont-meet-all-criteria 

What can business owners learn from Patagonia’s hand over vs. Starbucks’ reinvention plan?

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A lot of high-profile business decisions were published in the recent weeks, most notably Patagonia’s handover which sparked widespread support for the brand. 

 

Patagonia’s founder – Yvon Chouinard announced in a personal letter, [1] the handover of the company to two non-profit organisations and that going forward, 100% of revenue will go towards protecting the environment, supporting thriving communities and fighting the climate crisis [2]. 

 

They have experimented with ethical business models for years and this radical decision sets a new bar for corporate sustainability. Patagonia has consistently evaluated their impact and made steps to improve including becoming a B corporation. However, Chouinard addresses there were “no good options available” going forward for generating more money to fight the climate crisis while maintaining company values, so they “created [their] own” path. 

 

Going public with the company was not an option due to the pressure it would bring to “create short term gain at the expense of long-term vitality and responsibility”. This shows the commitment to maintaining the company’s values and staying true to what he’d envisioned the company to be. 

 

In contrast to another company in recent news – Starbucks have announced their “reinvention plan” for the coming years entailing aggressive growth targets, a 450-million-dollar investment into North American branches and intent to open thousands more across the US and China [3]. This demonstrates how far Starbucks has and will be straying from its roots. 

 

Howard Schultz’s vision for Starbucks was a place for people to experience the “purity of Italian coffee” that he’d fallen in love with [3] and he admits in certain ways, the company has “lost its way”. Most consumers now view Starbucks as a quick coffee stop as opposed to the authentic Italian coffee experience Schultz had envisioned. 

 

Starbucks has been a public company for 30 years and as a result, their immense growth has largely aligned with the goals of shareholders. While the reinvention plan is great for shareholders, current fans of the company will either love or hate the growth trajectory. 

 

So, what can business leaders take away from this? 

Growth should be considered with intention. 

 

While expanding is a long-term goal for many entrepreneurs, business owners need to be careful of how their plans align with their vision for the company. It can be easy to get caught up in the pursuit of major development milestones and lose sight of the intention behind building your business. This is especially true of public companies whereby the only goal then becomes creating massive returns on investment for shareholders. 

 

When this becomes the primary goal, it can lead business owners to cut corners and undertake unethical business practices in order to shape the company to the visions of shareholders. With pressure like this on leaders, there are high chances of making business decisions that end up being met with widespread distaste.

 

By taking a more thoughtful approach with consistent consideration of how your company impacts its community and prioritising your audience, your company will likely grow into one that sets examples for future entrepreneurs while staying true to your vision. 

 

References: 

[1] https://www.patagonia.com/ownership/

[2] https://www.upi.com/Top_News/US/2022/09/15/patagonia-outdoor-retailer-yvon-choulnard-climate/8801663251152/

[3] https://www.inc.com/justin-bariso/starbucks-howard-schultz-patagonia-how-big-should-my-business-grow.html?utm_medium=browser_notifications&utm_source=pushly&utm_campaign=2385105&cid=pushly

 

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