Technology is powering everything these days, from how a business develops its products or services, to how it sells, to how it manages and analyzes data. From manufacturing to retail to banking, almost every business is investing in software development. Some of them are doing it in-house, while others are outsourcing their requirements. Yes, outsourcing can help. But the business must still have its own team to analyze the requirement and work with the hired help to integrate the solution.
It isn’t always easy though for many businesses. However, most are working hard, convinced that software can help them grow. For example, one-quarter of the workforce at Goldman Sachs comprise of computer engineers now. In retail too, there are plenty of jobs for software developers. According to estimates, worldwide, there are more than 20 million software engineers who are working outside the tech industry.
General Motors Investing In IT for Growth
Recently, GM announced they were restructuring their IT functions. The company wants to grow their software-enabled services with an aim to reach the revenue target of $25 billion by 2030. General Motors has split their IT functions into two parts –
- Back-office IT
- Digital business software
Ultifi is the newly launched software platform of General Motors.
The carmaker is shifting focus from their mechanical, design, and engineering aspects to a software-defined functionality. Ultifi, which runs on an automotive platform, offers seamless delivery of software features, services, and apps to customers. Ultifi is offering the potential of quicker software development, more cloud-based services, and new opportunities, which General Motors hopes will improve customer loyalty.
Crown Agents Bank Is Also Investing In Software
The UK-based Crown Agents Bank, which has been a traditional business for many years, has also re-strategized and included software for their business growth. The bank has recently digitally transformed their operations because point-to-point IT systems integration was limiting their ability to scale up operations.
Their IT think-tank wanted to move away from point-to-point integration to solve the problem. Crown Agents Bank opted for (API)-led application programming interface.
Businesses That Invest In Technology Grow Faster
There are so many possibilities… from developing the idea to identifying the possibilities, technology can help in data-driven marketing. Technology can have the maximum impact.
Leveraging software and IT-enables services can help the business stay a step ahead. It can help in product growth, ease management, and also offer a better customer experience. The right software team can help in many ways, such as –
- Product ideation, planning, and development
- Campaign designing
- Marketing and promotion
- Data analysis
- Customer support
Not just the backend, business can even gain by reaching out to the customer through app development.
For example, mobile apps can improve brand awareness, boost customer engagement, maximize productivity, minimize cost, create an on-demand marketplace, drive sales, and increase revenue. Mobile apps can create a direct marketing channel and reach the customer at a minimum cost.
Software engineering and mobile apps have opened new possibilities for business around the world. Forward-thinking and insightful businesses are already working with technology to boost growth. This is the future as more and more companies realize the potential of software development and integration. But to ensure growth, it is necessary to hire the right people with the required skills or work with a technology partner that can provide an efficient solution at the right price and in quick time.