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3 Things Worth Investing In To Keep Your Company Growing

Source | | Lewis Robinson

Every year seven out of 10 employer companies survive their first two years in business. Of those that survive, a third stay open for ten years and a quarter keep operating for 15 years. The firms in the latter two groups survive by continuing to grow year-on-year. For these businesses, investing in areas that will profitably fuel growth is non-negotiable.

Here are some ways that such firms can stimulate growth:

Data and Analytics.

The modern-day business environment has become extremely competitive, and every company is looking for a way to get ahead. Data can be useful in identifying underperforming areas that require optimization to provide more efficiency and value.

Traditionally companies have opted to engage consultants who will drive this function for them. Accumulating the resources necessary to hire an in-house data and analytics team pays regular dividends as your firm keeps growing.

Investing in AI and algorithms that can predict traffic patterns for logistics companies and distributors leads to huge cost savings in both money and time. Deliveries can be planned in the most efficient manner ensuring that customer goodwill is acquired or retained through impressive delivery times. The cascading effect of this will fuel growth through increased sales.

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