11 September 2013 | in Business Intelligence

What makes a business 'smart'?

Written by Intact Software
What makes a business 'smart'?

From the moment a potential customer contacts your business, the process of information gathering begins. The more up-to-date, accurate and complete the information, the more valuable it will be to your business. 


How you deal with this information will determine how successful you are in business today.


In my experience, businesses tend to fall into two different categories: they are either a ‘standard’ business operating no differently to their competitors; or one that values and uses the information they gather to gain a competitive advantage. 


The latter also strive to be different, innovative and accomplished in the way they carry out their business to control margins and increase profits.  I like to call this kind of business ‘Smart’.


So, what makes a business ‘smart’? 


In my opinion, a combination of these three attributes make a business ‘smart’:


•    A smart business model
•    Utilising smart processes
•    Smart people!


You may notice the words ‘software’ or ‘technology’ don’t appear here.  As unusual as this may seem coming from someone who co-founded a software company, it doesn’t mean I don’t think technology plays its part. 


I believe all three ‘smart’ attributes need smart technology in place to enable them to happen.


Worth a read: What Business Intelligence can do for your business


Whatever business management software you choose to implement, it must be able to facilitate a smart business model to suit your company. 


It must help you to execute smart processes that will enable you to be more efficient and effective.


 And finally, it must also help your staff to become ‘smart’, utilising information in the best possible way to give you the advantage over your competitors.


Now, taking each attribute individually, I will explain them further.


Continue reading.... Paul Marry's white paper on 'What makes a business 'smart'? here.


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