There are currently many payment services available, a large percentage of which have been developed by Fintech companies. However, it is important to take into account several elements when choosing a payment gateway provider in order to have optimal operations without problems for customers or losses for merchants.
For a long time the most widely used payment method has been card acquiring – a process whereby, when you make a payment with your card, your cardholder data is transferred to the acquiring financial institution of the merchant that processes the payment, creating a network between this entity and the one that issues your card, in order to approve the payment.
All merchants are different, and in the case of card-acquiring payment gateways they are divided into business types to which a Merchant Category Code (MCC) corresponds, which identifies them when a card payment is processed. This code determines whether a business is low risk, high risk, among other categories.
Some payment service providers do not accept high-risk merchants, such as those in the gambling sector. In other cases, payment gateways accept them with higher commissions, generating higher transaction costs for merchants. On the other hand, many banking entities reject transactions –even blocking the cards and accounts of cardholders– when a business is identified as high-risk, causing loss of customers for that merchant.
On the other hand, when the payment is approved, many gambling business customers, who lose money gambling, lie saying that their card was fraudulently used by someone else on their web pages and request a chargeback. In these situations merchants must spend resources and time to resolve these disputes, and in many of them, due to regulations of large payment processing companies, they are forced to chargeback, again generating losses for the business.
In response to this problem, several companies, especially Fintech companies, have developed alternative payment gateways. This is the case of Blackcatcard, a European neobank that provides a corporate payment solution based on intra-bank transactions. In this type of payment gateway, a merchant can integrate into its business a system that accepts payments from customers with Blackcatcard accounts. For this it is necessary for the merchant to have a business account opened with this neobank as well.
One of the advantages of this payment model is that it fits the needs of most businesses, including those considered high risk, such as gambling and crypto services. There are no problems with rejection, loss of customers and blocking of their accounts, as the neobank has full knowledge of who is the merchant and who is the customer, making the transaction approval much simpler. In addition, since the payment provider knows both sides of the transaction, there is no room for chargebacks, creating more stability for the business and avoiding the common problems related to card acquisition.
SWINDON telecoms consultancy Red Rose Technologies is celebrating a major win with Southampton Football Club after helping it revitalise the way it communicates with fans.
Red Rose founder Andrew Moules worked with The Saints to modernise its communications by introducing a cloud-based telephone system to make it easier for supporters to engage with the club.
Mr Moules, who founded Red Rose three years ago after more than 20 years in the industry, said: “I was over the moon when the club wanted to partner with me. It’s been a fantastic project to be involved with.”
The first contact with the club’s IT director came via a chance conversation on LinkedIn two years ago. “He read a Telecoms Buyers’ Guide I’d written during lockdown and invited me in,” said Mr Moules. “They wanted to work with me because I was independent and a small business that could offer the personal touch.”
He spent time in many departments at the club’s St Mary’s Stadium to understand their needs and challenges before reporting back to the IT director and his team on what kind of system would suit it best.
“They wanted to bring their fans closer to the club through their contact centre,” he said. “My role was to understand what they wanted to do, their budget and when they needed to deliver it by.”
He identified four potential suppliers and after outlining to them the club’s needs and budget he co-ordinated the procurement phase of the project. “It was easy for the club because after they demonstrated their systems the potential suppliers weren’t bombarding the IT director with follow-up calls because I was the point of contact and I acted as a buffer as if I was a member of the IT team.”
Once a supplier had been identified he helped drive down the price to ensure the club got the best value. “I’m in the middle and project managing really,” he said. “I’m challenging the client and challenging suppliers but making sure that when we get to a certain point we are all collaborating and all on the same wavelength.”
He said the new system, which went live in March, has brought the club’s communications into the 21st century. “It replaced two traditional systems that couldn’t talk to each other,” he said. “Now there are very few handsets on desks, resulting in a lot less plastic hardware and the staff can work from anywhere using software driven tools.”
He said the new system is faster, more resilient and, crucially, can relay more information back to the club. “It gives them more statistics, analytics and data-driven insights,” he said. “They can identify trends like busy times and training needs so that they can be more agile, more available to their fans and give a faster, better experience to fans when they contact the club.
“It’s an indication of how Southampton feel about their fans and also their staff.”
He will be working with the club to develop its communications further, developing contact points via platforms including chatbots and WhatsApp to meet the needs of future generations of fans.
Mr Moules, whose clients also include school academies and legal firms, said working with the club has been a positive experience.
“To have a client like Southampton Football Club to want to partner with me and trust my knowledge and experience has been fantastic and a real boost for my business too,” he said. “The club has a lovely family feel, everyone was keen to help and welcomed me on board. They were a dream of an account to work with.”
Pictured: Red Rose Technologies founder Andrew Moules, centre, with Southampton Football Club IT Service Delivery Manager Alex Brannetti, left, and Director of IT Huw Fielding
About Red Rose Technologies
Red Rose Technologies is a telecoms and contact centre consultancy based at The Workshed, London Street, Swindon. It works with clients to develop telephony strategy, make supplier recommendations and introductions, define telephony requirements for procurement, oversee project implementation, deliver technical and commercial project delivery support, co-ordinate projects and suppliers and offer telephony and contact centre industry knowledge transfer.
In our rapidly evolving world, businesses are increasingly defined by their ability to adapt and pivot in response to external changes. One crucial aspect of this dynamism is the influence of news. In particular, business news serves as a compass, guiding the industry’s direction. Focuses on this phenomenon, with a particular emphasis on the role of the Federal Communications Commission (FCC) Certificate.
The Impact of FCC Certification on Business Trends
In the digital era, regulatory compliance is not an option; it’s a necessity. The FCC certificate stands as a testament to this fact. Designed to ensure the safe and efficient use of radio frequency (RF) electromagnetic fields, theFCC Certificate serves as a gateway for electronic and telecom products into the U.S. market. The implications of this certification are far-reaching, impacting the smallest start-ups to the largest multinationals.
From design considerations to market-entry strategies, FCC compliance is an essential piece of the business puzzle. For instance, adapting to the technical standards defined by the FCC often requires significant research and development. Likewise, timeframes for product launches must account for the certification process.
How Business News Reflects Changing Regulatory Landscapes
In our interconnected world, the tiniest policy tweak can make headline news, especially when it influences the business sphere. A sudden change in FCC certification requirements, for instance, could force companies to pivot, leading to reshuffled strategies and revised budgets. The business news, therefore, acts as a pulse, offering valuable insights into the changing regulatory landscapes and their repercussions.
Reading Between the Lines: Interpreting Business News
It’s not just about staying updated; it’s about understanding the implications behind the headlines. Business news can be a goldmine of information for predicting industry trends, provided you know how to interpret it. Here are a few techniques:
Identify the core issue: Understand the main subject of the news story, be it a regulatory change, a product launch, or a significant business deal.
Analyse the impact: How does this news impact various stakeholders, including businesses, consumers, and the broader industry?
Look for patterns: Are there recurring themes or issues in the news? These could hint at emerging trends.
Staying Ahead of the Curve: Adapting to Industry Trends
Savvy businesses understand that keeping an eye on the news is crucial to stay ahead of the curve. Netflix, for instance, leveraged its understanding of evolving consumer preferences and tech advancements to transition from DVD rentals to a dominant streaming platform. Such adaptability can be the difference between business success and obsolescence.
The Future of Business: Predicted Trends Based on Today’s News
As we look at today’s business news, we see the inklings of tomorrow’s trends. The emphasis on data privacy, for example, signals a future where businesses will need to invest heavily in cybersecurity measures. Meanwhile, the rise of remote work could spell changes for office spaces and workforce management.
In the same vein, evolving FCC regulations, and their coverage in the news, suggest that businesses will need to focus more on ensuring product compliance. The future might see even more rigorous standards for RF devices, necessitating innovation and adaptation from businesses.
Conclusion
The saying “knowledge is power” has never been truer. In a business environment that’s continually being shaped by the news, staying informed is not a luxury; it’s a necessity. By keeping a keen eye on the news, particularly regarding FCC regulations, businesses can anticipate trends and adapt accordingly. In doing so, they’re not just surviving; they’re breaking the mold, setting the stage for the industry’s future.
The realm of flight compensation policies can often seem like a daunting labyrinth of regulations and legalities. Among the myriad of airlines, KLM Royal Dutch Airlines maintains a robust set of procedures to handle flight disruptions and the ensuing compensation.
This article aims to illuminate KLM flight compensation for delayed flight, bringing clarity and understanding to the passengers who might find themselves in a situation of seeking compensation.
What is KLM Flight Delay Compensation?
KLM flight delay compensation refers to the reimbursement that passengers can claim from KLM Royal Dutch Airlines when their flight is delayed for a certain length of time. This compensation is not automatic and must be claimed by passengers.
KLM, like all European airlines, operates under the European Union Regulation EC 261/2004, which outlines the rights of air passengers in case of flight disruptions, including delays.
According to this regulation, passengers can claim KLM compensation for delayed flight if their flight arrives at the final destination more than three hours late and if the delay was not caused by ‘extraordinary circumstances’. Extraordinary circumstances typically include weather conditions, air traffic control restrictions, or security risks, which are beyond the control of the airline.
KLM Flight Cancellation Compensation – What Are Your Rights?
If KLM cancels your flight, you are entitled to either a full refund of the ticket price or an alternative flight (rerouting) at the earliest convenience. If you choose rerouting and the alternative flight offered arrives at a much later time than the original flight, you may also be entitled to compensation.
In addition to these, if your flight faced cancellation leading to an extended wait for the subsequent available flight, it falls within KLM’s duty of care to provide assistance and comfort. This could encompass the provision of meals and refreshments, the allowance of two free communications—be it phone calls or emails—and where required, overnight accommodation and transfer services between the airport and your lodging facility.
How to Claim KLM Flight Compensation – A Step-by-Step Guide
Claiming compensation from KLM for a delayed or cancelled flight can be a straightforward process if you follow these steps:
Check eligibility
Should your flight encounter a delay surpassing three hours or be cancelled without sufficient prior notification, you may find yourself entitled to claim compensation. This applies if the disruption was within KLM’s control and not due to ‘extraordinary circumstances’.
Gather information
Collect all relevant details about your disrupted flight, like your flight number, both the planned and actual times of departure and arrival, the length of the delay, the reason provided by the airline for the disruption, along with any correspondence received from the airline.
Keep documents
Make sure to keep all flight-related documents such as boarding passes, tickets, luggage tags, and any receipts for additional expenses incurred due to the disruption.
Contact KLM
Once you have all your information, contact KLM’s customer service directly. You can do this through their website, by email, or over the phone. Explain the situation, provide all the necessary details, and state that you are seeking compensation under EC 261/2004.
Wait for KLM’s response
After submitting your claim, KLM should respond within a few weeks. If they agree with your claim, they will process your compensation. If they deny your claim and you believe it’s unjust, you may need to escalate your claim.
Escalation
If KLM rejects your claim and you disagree with their decision, you can escalate the matter. This can involve taking the claim to a National Enforcement Body (NEB), an Alternative Dispute Resolution (ADR) scheme, or in some cases, taking legal action.
Seek professional help
If the process becomes overwhelming or if KLM rejects your claim, consider seeking help from a legal professional or a flight compensation company. They can take over the process and use their expertise to ensure you receive the compensation you’re entitled to.
Average KLM Flight Compensation Amounts – What to Expect
The amount of compensation depends on the distance of the flight:
For flights up to 1,500 kilometers, passengers can claim €250.
For flights between 1,500 kilometers and 3,500 kilometers, passengers can claim €400.
For flights over 3,500 kilometers, passengers can claim €600.
Please note that these amounts can be reduced by 50% if KLM offered to reroute you and the arrival time of the rerouted flight does not exceed the scheduled arrival time of the original flight by two, three, or four hours, depending on the flight distance.
Conclusion
As we conclude, remember that each case is unique, and patience is key. Keep this guide at hand, and you’ll find navigating KLM flight delay compensation policies a less strenuous journey. With knowledge as your compass, you’re now better prepared to advocate for your rights and ensure you receive the compensation you’re entitled to.
Flotek Group, a fast-growing Managed IT and Telecom Service provider, is ready for the next phase of the buy and build strategy. Having completed 8 acquisitions in 12 months, Flotek Group now have 5 offices across the UK with a key focus on the South West.
Jay Ball, CEO of Flotek Group, attributes the company’s rapid growth to the seamless integration of acquired businesses across multiple sectors, including IT, telecom communications, and data infrastructure throughout the UK. With a focus on culture alignment from the outset, Flotek’s 100-day integration plan clearly outlines goals and key performance indicators.
Jay said: “Our focus when approaching potential targets has always been to create win-win deal structures. By establishing trust with sellers from day one, we facilitate smoother and more successful integration processes.”
Mark Wyatt, Former Director & owner of Gower Business System commented: “Having developed the business’ success during the past three decades, it’s extremely important to me that we continue to build on Gower Business System’s legacy, and serve our loyal & fantastic customers.
“Flotek’s employee-led and customer-centric business model perfectly aligns with Gower Business System’s ethos. I am pleased to see after one year since joining Flotek Group, our customers now benefit from extended services such as cloud telephony, Microsoft Cloud and an enhanced cyber security service. I am delighted to see everything agreed during the negotiation with the deal have been successfully fulfilled and exceeded my expectations.”
Flotek Group has recently secured prestigious NHS contracts as a data infrastructure installer, covering areas in Swansea, Hywel Dda, Powys, and Cwm Taf. This achievement reinforces Flotek’s commitment to delivering exceptional services and further solidifies its position as a trusted provider in the industry.
Building upon a strong foundation of growth and success in its first year, Flotek Group is actively seeking to engage with Communications or IT companies with a turnover ranging from £350k to £2m for potential discussions.
Jay added: “We frequently receive enquiries regarding the acquisition of our competitors, as we have been transparent about our previous acquisitions. However, these enquiries often come when the competitors are looking to sell, which may not allow them to receive the true value they deserve.
“Our approach is to establish a longer-term relationship with potential sellers, align our goals, and assist them in achieving the necessary value for a successful exit in the future.”
In the world of construction, every detail matters. From the foundation to the finishing touches, every element plays a crucial role in ensuring the durability, safety, and longevity of a structure. One often overlooked aspect of construction is the importance of high-quality fixings and fasteners. These small components may seem insignificant, but they are the backbone of any construction project. In this article, we will explore why using high-quality fixings and fasteners is essential for successful construction projects.
1. The Role of Fixings & Fasteners in Construction
Fixings and fasteners are essential components used to join different elements of a structure together. They provide strength, stability, and structural integrity to the building. Whether it’s connecting steel beams, attaching panels, or securing electrical fixtures, fixings and fasteners play a pivotal role in holding everything together. Using inferior-quality fixings and fasteners can compromise the overall strength and stability of the structure, leading to potential safety hazards and costly repairs in the future.
2. Safety and Reliability
One of the primary reasons to prioritize high-quality fixings and fasteners is safety. Construction projects are subjected to various forces and stresses over time, including wind, seismic activity, and general wear and tear. High-quality fixings and fasteners are specifically designed to withstand these forces and maintain their structural integrity. They ensure that the structure remains safe and reliable, minimizing the risk of accidents or structural failures.
3. Durability and Longevity
Another significant benefit of using high-quality fixings and fasteners is the increased durability and longevity they provide to a structure. Cheap or low-quality fixings are more likely to corrode, degrade, or fail prematurely, leading to issues such as loosening of connections or even complete failure.
On the other hand, high-quality fixings and fasteners are made from robust materials, such as stainless steel or high-grade alloys, which offer excellent corrosion resistance and long-term performance. By using top-quality fixings and fasteners, construction projects can withstand the test of time, reducing the need for frequent repairs or replacements.
4. Efficient Installation and Time Savings
In construction, time is money. High-quality fixings and fasteners are designed to be user-friendly and provide efficient installation. They often come with advanced features like self-drilling or self-tapping capabilities, allowing for faster and easier installation. By using these high-quality products, construction teams can save valuable time during the construction process, resulting in increased productivity and cost savings.
5. Compliance with Building Codes and Standards
Construction projects must adhere to strict building codes and standards set by regulatory bodies. These codes ensure the safety, quality, and sustainability of the structures being built. High-quality fixings and fasteners, such as those offered by ADA Fastfix, are specifically engineered to meet and exceed these codes and standards. Using subpar or non-compliant fixings and fasteners can result in non-compliance issues, causing delays, fines, or even legal repercussions.
In conclusion, the significance of high-quality fixings and fasteners in construction cannot be overstated. These small components play a vital role in ensuring the safety, reliability, durability, and compliance of a structure. From safety to longevity, efficient installation to regulatory compliance, using high-quality fixings and fasteners is a wise investment for any construction project. So, when it comes to construction, never underestimate the power of high-quality fixings and fasteners!
Customer care is the process of ensuring that customers are happy. It can involve a number of aspects, from helping consumers choose the right product to providing post-purchase support.
It also involves showing appreciation for loyal customers. Shoe company Zappos, for example, offers a discount to returning customers. Another example is how online skincare boutique Glossier responded to a frustrated customer.
Customer service
Customer service is a vital part of any business. It includes all the interactions a company has with its customers, including in-person, phone, email, and social media. Customer service teams are also responsible for creating documentation to help customers find answers to their questions.
Providing excellent customer service requires training your team to understand the needs and expectations of your target audience. Make sure they can answer all of the questions your customers may have and can do so quickly. This can be accomplished by establishing a first response time or by ensuring that tickets are assigned to the correct team as soon as they arrive.
Customers also want to feel that they’re being respected and treated fairly. They want to know that the company cares about them and wants to provide solutions. When you care for your customers, it can build loyalty and brand trust.
The line between customer service and customer care can be blurry, but both are important to your business’s success. Customer care involves identifying and understanding your customers’ emotional needs and providing them with the right solutions. Whether it’s offering a refund on a broken planter or sending a complimentary gift when a product doesn’t meet expectations, a customer that feels cared for is more likely to be loyal to your brand.
Customer satisfaction
Customer satisfaction is a crucial part of your business’s success. It illustrates how well your products and services resonate with buyers and helps you identify any areas that need improvement. It also contributes to a positive reputation and increased customer loyalty. Customer satisfaction can be measured by surveys or through qualitative data, such as client advisory groups.
A business can improve customer satisfaction by focusing on empathy and ensuring that their products and services meet the customers’ needs. For example, a company can demonstrate customer care by limiting hold times for travelers or by addressing concerns quickly and thoroughly. Another way to increase customer satisfaction is to create a support system for your customers. This could include an FAQ page, email or phone support, or even a social media account where customers can ask questions.
The best way to measure customer satisfaction is by using a survey tool that collects consistent and reliable data, such as Net Promoter Score or Customer Effort Score (CES). These tools can be used to help companies develop their business strategies. Ensure that your surveys are designed carefully and that you have enough time to gather unbiased and accurate data. Incentives and easy-to-complete surveys can also increase response rates, which can lead to more accurate results. Loyal customers are a big asset to any business, and they can drive referrals and boost revenue. But, a single negative experience can leave them feeling dissatisfied and frustrated. To prevent this from happening, businesses should focus on delivering high-quality customer experiences at all touchpoints.
Customer loyalty
A company that has loyal customers can count on repeat business, referrals, and word-of-mouth advertising. Loyal customers also cost less to acquire than new ones, and they spend more money per transaction. That’s why companies need to focus on encouraging customer loyalty, which can be achieved through marketing and communication strategies. For example, an email or marketing automation platform like SendPulse can help marketers send personalized messages to groups of customers at the right time. This will help the audience feel that their needs are being met by a brand they can trust.
A great way to encourage customer loyalty is by responding to customer feedback, even negative comments. Many relationships have been saved by simply acknowledging a problem. For example, Elon Musk was quick to respond to Tesla customers when their cars’ auto software caused problems. This shows that he takes customer feedback seriously and values his customers.
In addition, businesses should track their customer loyalty metrics and use them as a benchmark for success. Keeping these metrics in mind will help companies avoid the trap of competing on price and keep their loyal customer numbers up. Companies can measure customer loyalty by tracking churn rate, which is the number of customers who cancel their service. While this metric may seem depressing, it is important to note that disloyal customers often provide valuable feedback about the company’s strengths and weaknesses.
Customer retention
Customer retention is a measure of the number of customers that stay loyal to your business over time. It is a key metric for businesses because it’s more cost effective to retain existing customers than acquire new ones. It also helps you build brand loyalty and gain market share. The best way to increase your customer retention is by ensuring that your product or service is meeting your customers’ needs.
In order to improve your customer retention, you need to understand what makes your company special and how you can use that information to create a winning strategy. To do this, you need to have clear metrics that define success. Customer retention is a percentage-based metric that reflects the number of customers retained by a business over a given period of time. It’s calculated as (E – N)/S, where E represents the number of customers who leave the company and N represents the number of new customers acquired during that same time period.
Companies that provide exceptional customer care are not afraid to go above and beyond for their consumers. Shoe retailer Zappos, for example, offers free shipping and a return policy that goes above and beyond other competitors. Other companies show appreciation for their consumers by offering a special discount or personalized letter. One way to make sure your team is following customer care principles is by using a CRM solution that stores notes from meetings and phone calls, ongoing issues and personal preferences of customers, and more. This will prevent changes in personnel from disrupting the relationship with your customers.
Crafting a comprehensive and appealing benefits package is key to the success of any business.
If you want to attract top talent and create a positive work environment, a one-size-fits-all approach no longer works for today’s diverse workforce. Instead, employers need to adopt a tailored strategy to meet the unique needs of their employees.
Understanding Employee Needs
To create a great benefits package it’s crucial to understand your employees needs. Conduct surveys, focus groups, and have one-to-one discussions to gain insights on what matters most. Understand preferences regarding healthcare, work-life balance, professional development and other areas which are relevant to your staff. By collecting this data, you can gain valuable insights into the priorities of your employees, enabling you to design a tailored benefits package that addresses their specific needs.
Financial Wellness
Financial stress can significantly impact employee performance and well-being. The number one requested benefit by employees is assistance with everyday costs, especially during the current cost of living rises. Offering the chance to save money on everyday expenses such as supermarket bills, high street stores and even holidays and entertainment can help reduce financial stress in a meaningful way. With My Staff Shop your employees can choose to reduce their initial payment on hundreds of everyday purchases or to ‘bank’ their savings and redeem them later; on another purchase, as a cash withdrawal or even paid directly into a savings plan.
You could also consider integrating financial wellness programs into your benefits package. Financial education resources, retirement planning assistance, and access to financial advisors are all popular benefits. Additionally, Salary Sacrifice schemes can offer pre-tax benefits to help with specific purchases. These initiatives demonstrate your commitment to supporting your employees’ long-term financial goals.
Flexible Healthcare Options
Healthcare is also a top priority for many employees. While providing a standard health insurance plan is a good starting point, offering flexible healthcare options can have a significant impact and can also help to cut costs. Consider providing a variety of plans to accommodate diverse needs, and remember that some employees may not want to receive taxable healthcare benefits, so check that they can opt out either now or in the future. Healthcare benefits can also incorporate wellness programs, preventive care incentives, and mental health support which all further enhance the healthcare benefits you offer.
Professional Development Opportunities
Investing in your employees’ professional growth not only benefits them individually but also contributes to the overall success of your organization. Tailor your benefits package to include opportunities for continuous learning and development. This can be as simple as providing access to online learning platforms. By nurturing their skills and knowledge, you create a motivated and engaged workforce that remains ahead of the curve.
Regular Evaluation and Review
Creating a tailored benefits package is not a one-time endeavor. The needs and expectations of your employees may evolve over time, influenced by changes in demographics, societal trends, or industry demands. It is vital to regularly evaluate the effectiveness of your benefits package and gather feedback from your employees. Working with a partner that offers flexible benefits and who can work with you to accommodate any necessary adjustments, you ensure that your benefits package remains relevant and valuable.
Tailoring your benefits package to fit your employees is essential for attracting and retaining top talent. By understanding your people’s needs, offering flexible options, and investing in their well-being and growth, you create a work environment that fosters loyalty, productivity, and overall job satisfaction. Remember, an engaged and fulfilled workforce is the cornerstone of a successful organization.
Efficiency and productivity are key to competitive advantage in a rapidly evolving business world. That is why Business Process Automation (BPA) emerges as a promising ally for many. By effectively leveraging BPA, organisations can streamline operations, maximise productivity, and propel themselves toward unprecedented success.
This article shines a light on the transformative power of BPA, its benefits, and how it paves the way for heightened business success.
The Core Of Business Process Automation
At its core, BPA utilises technology to automate business tasks that range from routine to complex and critical. By automating these processes, organisations can reduce manual intervention, mitigate human error, and allocate resources more judiciously. This results in a smoother workflow, enabling companies to achieve their objectives with greater speed and precision.
Adopting Business Process Automation
Transitioning towards BPA involves various strategies, each with its unique benefits and best use cases. Navigating the options might seem complex, but understanding the following four major avenues can provide clarity and direction.
Robotic Process Automation
Robotic Process Automation (RPA) tools, often referred to as ‘software robots,’ efficiently manage repetitive, mundane tasks, thereby liberating the human workforce to concentrate on higher-value activities.
For instance, a bank dealing with daily data entry tasks could implement RPA to significantly increase speed and accuracy while reducing manual effort.
Artificial Intelligence And Machine Learning
Artificial Intelligence (AI) And Machine Learning (ML) technologies extend sophisticated automation capabilities to decision-making and predictive analysis tasks. These tools provide nuanced problem-solving capabilities, enabling the automation of intricate tasks that require learning from data patterns and making informed decisions.
For instance, in a healthcare setting, AI can analyse historical patient data to predict health risks, facilitating early intervention and enhanced patient care.
Workflow Automation Tools
Workflow automation software enhances business processes, improves communication and collaboration, streamlines document management, and optimises project management processes.
A typical application could be automating the approval process in a document management system, ensuring smooth, efficient progress with minimal delays and bottlenecks.
Cloud-based Automation Platforms
Cloud-based automation platforms provide scalable, accessible, and cost-efficient BPA solutions. These platforms offer a wide range of customisable automation services that can scale as the business grows.
Consider an e-commerce business that automates its customer service responses to frequently asked questions using a cloud-based automation platform. This would provide 24/7 customer support, enhancing customer satisfaction while reducing the workload on human customer service representatives.
Implementing BPA should align with the organisation’s unique needs, processes, and strategic objectives. It’s not a ‘one size fits all’ solution but a flexible tool that can be tailored for optimal effectiveness.
The first step in adopting BPA is meticulous planning: understanding the organisation’s needs, assessing the processes that can be automated, and then choosing the right tools and technologies for implementation. With the right plan and execution, BPA can become a transformational force in the organisation, unlocking efficiency, innovation, and growth.
Reaping The Benefits Of BPA
There are numerous benefits of BPA, offering both immediate and long-term advantages. Here is a comprehensive breakdown:
Cost Reduction And Employee Satisfaction
One of the most direct and tangible benefits is cost reduction. By minimising routine tasks, BPA reduces labour costs, improves efficiency, and decreases errors leading to financial losses. This increased efficiency creates room for employees to focus on tasks that require human ingenuity, fostering a culture of innovation and boosting employee satisfaction.
Consider a multinational corporation with a substantial invoice processing task. Automating this process could significantly reduce the time and resources spent on this task, slashing operational costs and freeing up the finance team for more strategic work.
Enhanced Accuracy And Customer Satisfaction
BPA significantly reduces the scope for human error, leading to improved accuracy and quality of outputs. This enhances customer satisfaction, contributing to stronger business relationships and a robust brand reputation.
Improved Agility And Proactive Management
BPA provides a higher degree of agility, enabling businesses to swiftly respond to market changes or shifts in customer behaviour. Furthermore, BPA improves visibility across operations, providing real-time analytics and data insights that shape strategic decision-making. This data-driven approach supports proactive management, anticipating issues before they escalate and identifying opportunities for enhancement.
Assisting Regulatory Compliance
BPA plays a crucial role in supporting regulatory compliance. By ensuring processes are followed accurately, automatically documenting activities, and generating necessary reports, BPA reduces the risk of non-compliance penalties, and fosters trust with stakeholders.
The widespread benefits of BPA underscore its critical role in modern business operations. By harnessing this powerful tool, organisations can anticipate significant enhancements in cost-efficiency, accuracy, agility, and regulatory compliance, ultimately bolstering overall business performance.
Final Thoughts
Business Process Automation, far from being a mere technological tool, is a strategic asset propelling businesses towards growth and success. Its power lies in its ability to transform core processes, making them more efficient, accurate, and agile. With a well-devised and executed BPA strategy, businesses can confidently navigate the digital age, be fully equipped to exploit new opportunities, meet customer expectations, and thrive amid intense competition. The question businesses face is no longer whether they should adopt BPA but rather when and how to best harness its immense potential.
Flotek has acquired Liberty Solutions (Swansea) Limited, a telecommunications provider based in Swansea. The deal is the 8th acquisition for IT & Comms MSP Flotek Group since launching in April 2022 by CEO, Jay Ball.
Flotek is known for its innovative solutions and customer-centric approach. With a mission to help SMEs consolidate data and voice communications with one trusted provider, the acquisition further enhances the offering to Flotek’s customers.
Founded by Andre Morgan, Liberty Solutions is a telecommunications provider offering telephone systems, telephone lines and business broadband solutions tailored to small and medium sized businesses.
Jay Ball, CEO of Flotek, said: “We are pleased that Liberty Solutions is now part of the Flotek family. They have been a trusted telecom provider for local businesses in and around South Wales, joining Flotek means customers will now benefit from Managed IT & Cybersecurity services from one technology provider.”
Flotek’s growth strategy is driven by its core value of providing customers a single point of contact for all their technology needs.
On Flotek’s rapid growth, Jay continues: “Having completed 8 acquisitions in 12 months, we now have 4 Swansea bases as well as multiple locations in England. Expanding our market share so rapidly in such a short period of time has been a great first step in our long term growth strategy.
“Right now, our priorities are integrating and operating as one business with clearly defined goals. We continue to communicate with all parts of the business to ensure integration plans are on track ready for any future acquisitions.”
Previous deals made by Flotek include Gower Business Systems, Cloud9ine and Saecom in South Wales and Mazing Tree, FlexiNet, ECS Solutions and Toolk-IT, which enabled the group’s geographical expansion as well as enhancing Flotek’s service offering.
Multidiscipline dealmakers GS Verde Group structured and advised on the deal.
