Data enables effective resource and capital management through optimal equation identification, experts.
With technological advancements, companies need to focus on creating a better workforce. At the end of the day, the good physical and mental health of employees eventually leads to an efficient workforce. The identification of the right talent is crucial. “When we say innovation, it is not just about creating new things. There are four Cs to understanding innovation: context has to be very clear; capability to drive change and innovation; a culture of adopting new innovations; and collaboration, which is crucial for the successful implementation of technology,” says Dr Shakti Chauhan, Country Head-Facility Management at 32nd, while speaking at the BW Facility Management Conference and Excellence Awards 2023.
Technology is the future of corporations; it is not something to shy away from. The incorporation of technology in relevant company processes is the need of the hour. Highlighting the advantages of technology, Jagvinder Pinny Mann, an Independent Corporate Real Estate Consultant and former Microsoft Senior Portfolio Leader, says, “Technology is here to stay; we should not shy away from it. It helps enhance our productivity. We are efficient, with seamless processes, and we can adequately support our customers with data backing us and supporting us for what’s coming in the future.”
Technology is changing every six months; hence, without understanding the company’s needs and jumping from one idea to another, it would burn cash. “Identify your organisation’s needs rather than jumping from innovation to innovation. Technology involves a cost,” explains Parvez Sajid, VP-Operations at Nouvel.
He adds that data analysis will lead to cost savings. Data will help you find out the best equation to manage your resources and capital effectively.
Instead of increasing the headcount, companies should focus on helping their existing workforce adapt to new innovations, which would lead to increased efficiency. Innovation is critical to match up with global standards. “There are tools that need to be adapted because developing them from scratch requires a lot of resources. We have to be efficient in using them,” says Ashutosh Kumar, Head of Engineering at Adaptive Computations Caliche.
The effective use of technology in daily business operations is the future of the smart workforce. Companies should start looking for the right fit technology and help their workforce adapt to it quickly and swiftly, according to experts.