Business Challenges: 4 Major Challenges Companies Face Today

Business ChallengesWhether it’s problems related to cybercrime or the excessive handling of manual tasks: challenges are part of every company’s day-to-day life. Some of these obstacles can be overcome without major complications. However, there are others that can significantly affect the productivity and overall performance of organizations. The ability to respond to these business challenges makes the difference between a successful business or an ephemeral one.

 

The good news is that there is almost no business challenge that has no solution. Today we show you some of the most important ones; and give you some clues so you can solve them as efficiently as possible. Keep reading and know all the details.

4 main business challenges companies face today (and how to overcome them)

Inefficient time management

Time is one of the most precious resources of organizations; so managing it intelligently represents one of the most important steps on the road to a successful business. However, efficient time management is something that many companies find difficult to achieve, especially those just starting out.

Whether it’s the excess of manual tasks, inefficiency in delegating assignments; the absence of standardized processes, or simply the lack of trained personnel. Waste of time is one of the most important business challenges organizations face.

How to solve it

To avoid inefficient time management becoming an obstacle, the first thing you need to do is to learn how to wisely cannalize the other resources you have in your favor.

 

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For example, within companies, there are some extremely important tasks that require attention, dedication, and human creativity to be carried out. However, there are many others that due to their simplicity or degree of relevance can be perfectly executed with the help of a technological tool.

 

 

Try then to acquire solutions that allow you to automate tasks and offer the members of the company the opportunity to focus exclusively on the most relevant activities.

There are solutions that can also help you standardize processes. Those based on reference frameworks such as ITIL, represent the best options; as they are able to help you optimize any area of your company. If you want to evaluate options, we suggest you start by taking a look at Freshservice by Freshworks.

Cybercriminality

Cybercriminality is a risk to which all users are unfortunately exposed. Companies, of course, are no exception. Previously, cybercrime was associated exclusively with fraud risks, however, several cases have shown that this type of threat goes much further, as it is able to affect the functionality of businesses, allow data leakage and even achieve complete disruption of internal activities.

The main problem with cybercrime is that its methods are always being reinvented, so every day new threats are emerging aimed at taking any unwary user by surprise. The risk is so high that cybercrime has been named one of the main business challenges of the decade.

How to solve it

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The first step you need to take is to make cybersecurity a priority within your business. This involves creating a security team, establishing strategies according to the size and complexity of your systems, and informing all members of the company about the best measures to protect themselves.

 

 

 

As part of the strategy, you need to install vulnerability and threat detection tools. They will allow you to have broad visibility of your assets and measure the level of risk they have. Try to choose tools with proven effectiveness, such as the Nessus security scanner. Don’t be afraid to acquire as many tools as necessary to protect your systems, security is always an excellent investment.

Recruitment of the right talent/discouragement of employees

If time is an important factor within the company, human resources are even more important, as they represent the main engine thanks to which all vital operations are carried out.

With this in mind, human talent management becomes one of the most concerning business challenges when we don’t pay enough attention. Unmotivated or untrained personnel can become a pain point in the business because it does not allow the company to develop its productive capacities to the maximum.

How to solve it

Develop efficient personnel management techniques, focused not only on attracting the most talented human potential but also on keeping it permanently within your company. For example, you can promote open communication between you and your employees. This way it will be easier to express any discontent or concern that may exist on both sides.

Ideally, you should also be able, as far as possible, to invest in the continuous training of the company’s members. This will allow them to develop new skills, which will translate into better ideas and more optimal results for your business.

When recruiting staff, take advantage of mass media (websites, social networks, press) to reach as many qualified candidates as possible. When choosing the one you consider most appropriate, try to offer him a pleasant work environment and opportunities for growth.

Dissatisfied Clients

Do you offer a good quality product but still face complaints from dissatisfied customers? If this is your case you probably don’t know your customers well yet.

 

Business Challenges

Achieving happy consumers requires more than just delivering a good product. The process of attracting, converting and retaining customers; demands today that at every stage you understand what the user feels, to connect emotionally to him. In this case, inefficient or absent customer service or a poorly designed website; can have a big impact on your company’s image and relationship with consumers.

 

How to solve it

Here again, technology can help you achieve your goals. A Customer Relationship Management tool can, for example; help you better understand your ideal customer’s profile and respond to their demands more effectively.

Use the data that this type of solution can provide to reevaluate the way you connect with your customers and to create strategies that improve their experience with your company.

Do you have any other challenges that you have to face in your company? Don’t worry, you’re not alone. At GB Advisors, we offer you the tools you need to improve your processes and achieve the success of your business. Contact us. We offer you the ideal consulting and solutions to carry out all your IT projects.

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