In the ever-evolving landscape of education, efficient and well-organized administrative processes are key to delivering a seamless experience for students, parents, and faculty members. One crucial aspect of this is Accounts Payable (AP) management. In 2024, schools can make significant strides in enhancing the AP process by adopting innovative practices and leveraging technology. This article will explore strategies and best practices to improve AP processes within educational institutions.

• Implement Automated Invoice Processing

Automation is a game-changer for schools looking to enhance their AP process. Automated invoice processing tools can capture, extract, and validate data from invoices, reducing the need for manual data entry. This not only speeds up the processing time but also minimizes the risk of errors and enables staff to focus on more value-added tasks.

One area, that is overlooked is how automation projects improve approval workflow process.

• Well-defined approval workflows are crucial in ensuring that invoices are processed efficiently and in compliance with school policies.

• Implement clear approval hierarchies and notification systems to keep stakeholders informed about the status of invoices.

• Use technology to automate routing based on predetermined rules, expediting the approval process.

In our experience, Industry studies also show, that implementing an automated Invoice solution speeds up the processing cycle by up to 74% and reduces invoice processing costs by up to 80%.  In order to achieve this, your Invoice Automation solution should. One of the leading Invoice automation solutions, SAP Concur Invoice, made this happen by providing system features that reduce manual data entry, automate routine tasks such as matching prices and purchase orders, and have documents ready for faster and more efficient approval.

• Improve Supplier Collaboration

In 2024, successful AP departments should prioritize supplier collaboration. Building strong relationships with suppliers can lead to better terms, discounts, and improved overall supply chain efficiency. Leveraging supplier portals and communication tools can facilitate real-time collaboration, making it easier to resolve issues, negotiate terms, and share critical information. AP teams should focus on transparent communication and mutually beneficial partnerships to foster a harmonious vendor ecosystem.

One way to improve collaboration is by encouraging vendors to use online portals for invoice submission and tracking. Vendor portals streamline the invoicing process, reduce the need for manual handling, and provide real-time visibility into invoice status. If you don’t have vendor portals, a simple use of central AP email where vendors can send the invoice and get “triage” will already give you 30-40% improvement in processing time. 

From the School AP perspective, if you use the right vendor collaboration tool, such as SAP Concur Invoice, you can take advantage of early payment discounts, lower transaction error, and better fraud mitigation, and allow constant transaction tracking (answers the question where is the invoice and the payment). From the vendor side, the right tool should allow them to view the status of their payments.

• Use Credit Card Rebate Program

In the world of Accounts Payable (AP), every dollar saved can have a significant impact on a company’s bottom line. One innovative strategy businesses are increasingly adopting to boost their financial efficiency is adopting new ways of using Credit Card Products. One such innovation is using a Credit Card Rebate Program. A Credit Card Rebate Program is a financial arrangement in which a business uses a corporate credit card to make payments to vendors, suppliers, or service providers. In return for using the card for these transactions, the company receives a percentage of the total purchase amount back as a cash rebate or reward points.

One of the immediate benefits of using a corporate credit card for AP is the potential for cost savings. Many credit card companies offer competitive cashback percentages or rewards, effectively reducing the overall cost of business expenditures.  One of the leading Credit Card Rebate Program providers is Avidxchange – an SAP Concur partner. In their experience, AP automation software saved more than $7 per invoice.

But beyond the cost savings, consider also that Credit cards simplify the payment process by consolidating all transactions onto a single statement. This makes it easier for AP teams to track expenses, reconcile accounts, and identify discrepancies.

In addition, cash flow may also be improved. Credit card payment terms often provide a grace period, allowing businesses to delay actual payment while earning rebates immediately. This can significantly improve cash flow management and working capital.

Lastly, using Credit Cards for paying vendors can provide an extra layer of reports that can provide spending insights. Credit card statements provide detailed transaction data, making it easier to categorize and analyze expenses. This data can be invaluable for budgeting, expense analysis, and financial planning.

Conclusion

Efficient AP processes are pivotal in supporting the administrative backbone of educational institutions. By embracing tools like SAP Concur Invoice to improve automation, vendor collaboration, and integration with innovative products –like AvidXchange’s Credit Card Rebate program, schools can significantly improve their AP processes in 2024. These enhancements not only streamline operations but also enable better financial control, cost savings, and improved compliance. Ultimately, the result is an educational institution that is better equipped to provide a seamless experience for all stakeholders in an ever-evolving educational landscape.

By: JL Diaz

The post Elevating Education: How Schools Can Improve the AP Process in 2024 appeared first on Phoenix Business Consulting.

When I ask top executives this question, most respond by saying IoT or AI or ML or Cognitive RPA… and the list goes on and on!

It’s true that the decision to embrace newer technologies helps an organization fundamentally change the way it works. And while that decision can rapidly increase that organization’s progress in the journey to becoming an Intelligent Enterprise, it doesn’t reflect life and work in real-world business scenarios – at least according to what I hear on a daily basis from the CEOs with whom I interact.

Is Intelligent Enterprise a Product?

Unfortunately, when most executives think of the term, ‘Intelligent Enterprise,’ what they envision is a product where one fine morning they wake up, decide to buy an intelligent enterprise and roll it out in the afternoon. Here’s the truth: Intelligent Enterprise is not a product; it is instead the mindset CEOs and top executives must possess: the ability to think differently about new technologies while remaining open to new ways of strategizing the opportunities these technologies present.

The Transformative Effect

The evolutionary path to becoming an Intelligent Enterprise brings into play a transformative effect on the company’s workforce, freeing them from mundane tasks and allowing them to focus on strategy. Envision this scenario: Instead of a company relying on the 10 executive brains residing in the board room, it now has 100 brains spread throughout the company, all involved and focused on building a strategy to ensure that company’s success.

The compounded effect that Intelligent Enterprise brings is phenomenal. It’s not about cutting costs by laying off employees when you usher in a new technology that replaces humans; It’s more about freeing those employees to use their intellectual capacity to help that company thrive in its selected market utilizing a strategy informed, developed and powered by an intelligent suite of technology solutions.

Watch the video below![/rb_sc_text][rb_sc_image customize_align=”1″ image=”2707″ custom_styles=”.vc_custom_1602944182886{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]“Technology is changing the world of work, for sure. But in many cases, it’s not taking people’s jobs: it’s changing them to allow customer service representatives to better service the customer,” says Steve Tzikakis, SAP President South Europe, Middle East and Africa, in one of his articles published on Digitalist in April this year.

Steve further elaborates, “By starting on the Intelligent Enterprise journey, you make it easier for your people to deliver great customer service. To connect your people to your higher purpose. To listen to your customers, your partners and your people through your channels AND your data.”

I’d like to ask my opening question again, as well as follow it up with another: What’s powering your business today? Is it your people, your technology – or both, working together to achieve better and greater things?

Let me know what you think. I would be more than happy to share a few more real-life examples on how companies have transformed – not just from the technology angle but also from a human resources perspective – to power their business to the next level.

I look forward to hearing from you. Contact me here.[/rb_sc_text][/vc_column][/vc_row]

The post What’s Powering Your Business Today? appeared first on Phoenix Business Consulting.

In almost all my previous Tuesday Thoughts, I had predominantly covered the concept of the intelligent enterprise extensively. But what truly constitutes an intelligent enterprise and encapsulates its finer aspects?

Take a look at this video featuring Mike Flannagan, Senior VP at SAP, at the SAPPHIRE NOW conference last year:[/rb_sc_text][rb_sc_image customize_align=”1″ image=”2701″ custom_styles=”.vc_custom_1602942299181{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]“Becoming an intelligent enterprise is really about looking at every process across the enterprise, and applying intelligent technologies in the right places,” says Mike. “Sometimes that may be things like machine learning; and sometimes it might be connecting devices with IoT; sometimes it may be using blockchain to secure a set of transactions.”

Since the intelligent enterprise is more than the sum of its parts, it creates solutions that benefit as many of its people as possible. Helping frontline workers — who are often the face of the brand — can improve the big picture, says SAP expert Derek Klobucher in one of his recent articles on news.sap site.

First things first: Finding the right problems to solve

Flannagan continues: “It’s not just about designing something that works for the end user — or about designing something that works for the senior executive. It’s about finding the problem that senior executive cares about for business reasons … and the guy on the shop floor cares about from a day-to-day workflow reason. If you can bring those two together, now, you’ve got a problem that everybody agrees is the right one to focus on. Those are the really cool problems to solve.”

In essence, the intelligent enterprise does not simply implement the latest in the technology space, like AI, IoT or ML. Rather, its efficiency stems from a culture of identifying the perfect business problem to solve – and then coming together as a team to devise the perfect solution.

However, aligning your frontline workers with your C-suite is no easy task. So how do we get, say, the shop floor workers on the same page as the CEO?

Let me know what you think.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post Demystifying the Intelligent Enterprise appeared first on Phoenix Business Consulting.

Apply this scenario to your business: What kinds of experiences do you think your customers are having with your people, products and services?

Reviewing the Ratings
Before you answer that, let’s examine this simple straight line of customer experience scores (where 1 is the lowest possible score and 10 is the highest) and see if we can establish a common set of beliefs about what these scores mean.

For the purposes of this discussion, here is the way I want us to interpret what these scores mean:

• Any score from 1 to 5 is a bad score. Really, there is no other way to interpret this.
• Any score between 6 and 8 should be considered just okay. It’s a satisfactory score, and we can live with it- but we understand there is much room for improvement and moving beyond 8 is going to be a challenge.
• Any score of either 9 or 10 is the target we aim for, the magic numbers that likely mean your customer found his or her experience to be memorable for all the right reasons.
  Since I can’t see you nodding your heads, I’m going to assume you agree with my interpretation. If you don’t agree right now, keep reading and perhaps you will.

Let’s realize that the battle here is not just about finding new and innovative ways to deliver exemplary customer service or outstanding product performance; It’s also about changing the perceptions of those customers who give low scores by finding the resources, ideas, technologies, people and attitudes capable of turning negatives into positives.

The Staggering Gap
Sadly, while most businesses think their products/services rate a 9 or 10, the stark reality is that most customer experience scores fall way below 8! Don’t believe me? According to SAP’s Capital Markets Day 2019 report, “80 percent of CEOs believe their company offers a superior experience, but only eight percent of customers agree. That’s a staggering gap.”

A 2018 report by New Voice Media stated that 67 percent of customers in the US are ‘serial switchers’, flipping from one brand to the next because of what they perceive as poor customer experience – an astounding 37 percent increase in just two years. In the experience economy, not having a deep, accurate picture of the entire experience – customer, employee, product and brand – can be fatal to a business.

[/rb_sc_text][rb_sc_button title=”Download the Report: The New Economy” customize_align=”1″ aligning=”center” btn_size=”medium” btn_font_color=”#ffffff” btn_font_color_hover=”#ffffff” btn_bg_color=”#3b7eff” btn_bg_color_hover=”#3b7eff” btn_border_color=”#3b7eff” btn_border_color_hover=”#3b7eff” url=”https://forms.zohopublic.com/phoenixbusinessconsulting/form/DownloadtheStudyTheNewEconomy/formperma/gbdY3FfgQTQVodmKExVMf-OOP4r8Py4X-GCLEvCS0dU” custom_styles=”.vc_custom_1602941739078{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]Bridging the Staggering Gap
So how does one win the battle to change perceptions? The key lies in using the help of advanced technologies to gain unbiased insights into the customer psyche and behaviour, and then using those same insights to bridge the gap. This includes technologies like Artificial Intelligence, Predictive Analytics and the Internet of Things which, when implemented into a cohesive integrated whole, transform any company into an Intelligent Enterprise.

Bumble Bee Foods: A Case Study
Helen Dwight, Global VP of Marketing at SAP, in an article on “The New Economy,” cites an interesting case study involving Bumble Bee Foods, the largest branded shelf-stable seafood company in North America. She narrates how Bumble Bee wanted to proactively address consumer concerns around food safety and sustainable sourcing. “Through the use of blockchain technology, the company now tracks the fish it sells from the moment it’s caught to its placement on store shelves. Critically, customers can easily access the complete origin and history of the product on a smartphone via a QR code for complete transparency in food sourcing and safety,” she elaborates.

Further, she says, “To meet customer expectations and live up to Bumble Bee’s long history of sustainable tuna production, the company implemented an innovation sea change across its operations and throughout the supply chain. The results were wide-ranging, positively impacting ecosystems and the lives of stakeholders.”

Here is my point: Your ability to apply intelligent technologies across applications and processes holds the key to providing an enhanced customer experience. In a way, this boils down to twin factors: speed and personalization. Only technology can help identify and improve these experiences.

Let me know what you think. If you’d like information on how SAP can help improve your customer experience rating beyond 8, please feel free to write to me. I am more than happy to share additional case studies like that of Bumble Bee.

I look forward to hearing from you.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post How to Bridge the Experience Gap appeared first on Phoenix Business Consulting.

I cannot give you the formula for success, but I can give you the formula for failure. It is: Try to please everybody.
– Herbert Bayard Swope

Since most of us spend a considerable portion of our daily time on mobile apps and since they have a plethora of options for every app niche, knowing their specific needs, priorities, preferences, and expectations become very crucial for app marketers. This is why every app must conduct elaborate market research before starting with an app project. Even while the app is ready for launch, you need to make a launch plan based upon the most suitable channels and marketing message for your target audience.

Missing On A Pre-Launch Campaign

A vast majority of the app marketers mainly concentrate on the post-launch app marketing techniques and measures while completely missing on the pre-launch campaign. This prevents the app to create buzz and hype just around the time when the app is launched. As and when you launch the app, already a considerable number of people should expectantly look forward to your app and this requires long-drawn marketing efforts leading up to the app launch event. To create pre-launch buzz and hype about the app a mobile app development company has an array of marketing options like social media campaign, search engine ads, video ads, email campaigns, etc. Apart from online options, you can also reach out to the wider audience with traditional marketing options like outdoor ads, print ads, media ads, and promotional events.

Just as a retail business in real life is remembered not just for its product offerings but also because of its services, support, and customer-friendliness, an app that offers a helpful customer support system for its valued users enjoy more traction and engagement than other apps. Great brands all over the globe enjoy appreciation and popularity because of their customer-friendly support and services.

The post How to Make Website WCAG Compliant? appeared first on Phoenix Business Consulting.

If you answered ‘Technology,’ like I’m sure most people would, you’d be almost right. Almost- but not quite.

The reality is that the future of your business is driven by people, or more specifically, the people who call the shots – meaning the forward-thinking business leaders, those gifted people inhabiting the heady upper realms of executive management. Why? Because, they understand the BIG WHY. The BIG WHY- aka the GREAT PURPOSE- is the reason or reasons that drive the adoption of newer technologies, like ML, AI and IoT. The BIG WHY is the decision-making compass forward-thinkers use to steer clear of sustainability risks.

Is Investing in Newer Technologies enough?
Technology per se isn’t going to bring about transformational change for any company. In my own experience working with mid-sized and large organizations, I see many companies embrace newer technologies to make their business processes more effective and efficient, but seldom do those companies decide to make optimum use of these technologies. It’s sad, but true.

My point is this: Investing in newer technologies is just not enough to drive transformational change. Implementing these technologies in pockets is just not enough to ignite transformational change. What is required is someone at the top with the courage to make the hard decision to leverage the technology to its fullest.

Expecting end-users or mid-management to push or pull top management into making this decision is both an unrealistic expectation at best and an invitation to failure at its very worst. Leveraging newer technologies to their fullest and driving their adoption throughout the enterprise must occur through a top-down approach.

For the benefit of all concerned, the business leaders at the corporate helm must accept the responsibility to act as change agents. No one else can stand in that gap, no one else can accept that responsibility and really, no one else should. Making these types of crucial decisions is why those people are at the top.

So my question to them is this: Are you ready to lead your business into what comes next?

In an article published in a recent edition of Digitalist Magazine, Ursula Ringham, the Head of Global Influencer Marketing at SAP, gave a sneak-peak into “Tales from Tech Unknown: Extraordinary Stories from Tech Leaders.” This eBook features seven tech leaders sharing the life experiences that helped shape their careers.

Let’s take a quick look at what inspires and motivates some of the brightest minds in tech:

[/rb_sc_text][rb_sc_button title=”Download: Tales from Tech Unknown – Extraordinary Stories from Tech Leaders” customize_align=”1″ aligning=”center” btn_size=”medium” btn_font_color=”#ffffff” btn_font_color_hover=”#ffffff” btn_bg_color=”#3b7eff” btn_bg_color_hover=”#3b7eff” btn_border_color=”#3b7eff” btn_border_color_hover=”#3b7eff” url=”https://forms.zohopublic.com/phoenixbusinessconsulting/form/DownloadTalesfromTechUnknownExtraordinaryStoriesfr/formperma/8gNrnFsPFaIQGDu2cbAO9CtHKmlbJcdlPBPGE08PCG0″ custom_styles=”.vc_custom_1602941216892{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]Here are the tech minds:

• Tamara McCleary, CEO of Thulium, shares the big tech dream that motivates her to keep innovating.
• Gary Mintchell, Founder of the Manufacturing Connection & industry-leading analyst, explains how supply chain logistics affects the food we eat every day.
• Amber Case, Research Fellow at the Institute for the Future and renowned researcher, speaker and author, illustrates why philosophy and anthropology are crucial parts of building new tech.
• Timo Elliott, Global Innovation Evangelist at SAP, tracks the history of human innovation from the plow to the supercomputer.
• Kirk Borne, Principal Data Scientist at Booz Allen Hamilton, shares his lightning-rod moment with data mining and machine learning.
• Brian Solis, Futurist and Principal Analyst at Altimeter, talks frankly about his struggle with digital distraction and how businesses can cope.
• Tammy Powlas, Senior Business Analyst & Mentor at SAP, shares how giving back to the developer community helps further her education.
  These examples — and others — teach us that the future of business depends on how business leaders choose to use the technology at their disposal. They can choose to use some of its capabilities and likely fall behind the competition, or they can choose to use its optimal capabilities and either keep pace or stay ahead. Let these Tales from Tech Unknown inspire you as you lead your business into what comes next.

It’s beyond any doubt that newer technologies disrupt business every 4-5 years. What we all see today as cutting-edge is going to be obsolete within the next few years.

When it comes to taking on the challenges of this ever-changing technological world, just how far are you prepared to take you and your business? The future success of your business hangs on your response to this question.

Let me know your views. I look forward to them.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post Extraordinary Stories From Tech Leaders appeared first on Phoenix Business Consulting.

If we look at how some companies transformed themselves, you quickly realize that a ‘willingness to change and adapt’ was the cornerstone of effective value creation. Like human beings, companies are unique in their ability to want to change, but it’s the willingness to change that stimulates them to take home the big prize.

Unfortunately, the business world is saddled with real stories of how well-known companies fell apart and faded into oblivion (for some examples, read my blog: Urgency is the Name of the Game) during the process. Interestingly, these companies were often ‘forced to change’, meaning they allowed themselves to become vulnerable to market forces and had change forced upon them. It’s not that they didn’t know what was coming; their reluctance to change kept them from adapting and surviving. However, the nimble-footed companies that put their ‘will to change’ in the driver’s seat rode the new technological wave to better days – and better business models, greater efficiencies and increased revenues.

From machines to machine learning and beyond
Historically, the advent of the second industrial revolution in the 19th century brought increased productivity and higher growth, which in turn led to world-wide economic development. That was the first time that machines replaced manual labor, resulting in accelerated production, transportation and communication.

Today, we have come a long way from the ‘Age of Machines’ to the ‘Age of Machine Learning.’ Now cutting-edge technologies like machine learning, IoT, Blockchain and AI, promise the next major leap by partially or fully removing the human factor from low-skill and high-frequency tasks, which would in turn enable companies to grow at a faster rate than ever before.[/rb_sc_text][rb_sc_button title=”Download Thought Leadership Paper: The Economics of Intelligent Enterprises” customize_align=”1″ aligning=”center” btn_size=”medium” btn_font_color=”#ffffff” btn_font_color_hover=”#ffffff” btn_bg_color=”#3b7eff” btn_bg_color_hover=”#3b7eff” btn_border_color=”#3b7eff” btn_border_color_hover=”#3b7eff” url=”https://forms.zohopublic.com/phoenixbusinessconsulting/form/TuesdayThoughtsTheEconomicsofIntelligentEnterprise/formperma/2vqqENdnLVtbvRTCuUFmSVEYlBhTLj3E9NjuIpnjhL0″ custom_styles=”.vc_custom_1602936947123{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]Deriving value from intelligent investments and value-based models
We all know that intelligent technologies have the potential to transform organizations and that there is a way to measure their ‘value benefits.’ Today’s savvy companies look closely at these value benefits for the investments they make on newer technologies before they take the plunge. For instance, they look at quantifiable benefits, which include the operational gains that can be estimated, and financial benefits, which are gains that can be estimated in financial terms. Beyond this, what will also prove invaluable is a ‘Value Management System’ that can help realize the potential benefits of a business innovation coupled with the transformative initiatives it enables.

Here’s my question: Do you think ‘willingness to change’ is the key to a transformative turnaround from where you are today to where you want to be? Let me know what you think.

I look forward to hearing from you.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post The Economics of Intelligent Enterprise appeared first on Phoenix Business Consulting.

I’m sure you all know the Nokia story and how CEO Stephen Elop ended a speech tearfully, saying, “We didn’t do anything wrong, but somehow, we lost.”

While I agree that even high-flying executives are human beings and capable of the same failings and bad decisions we all are susceptible to, in business, it’s never right to run a company under the old axiom of “If it ain’t broke, don’t fix it!” The reality is that some things must be changed, even if they ‘ain’t broke.’ Today’s newer technologies are not really built for ‘fixing’ things- but they are designed to help you do more and do it quickly. They are designed specifically to free you to allow your organization to respond quickly to changing market dynamics with insightful data.

Consider these future forecasts:

• 60% of human tasks are going to be automated by 2025
• 99% accuracy in voice and video recognition is going to be a reality by 2020
• 97% image recognition accuracy exists today- and that’s better than human accuracy, which achieves 95%

Here’s my question: If companies don’t feel the heat to transform now, then when will they? Those that refuse to adapt, or choose to do so at a glacial pace, are going to be extinct soon because tomorrow’s challenges are going to be radically different than what companies face today. To address these future challenges, businesses must possess the capabilities to make sense of a growing volume of data, create a step change in productivity, and innovate with relentless clock-speed.

Remember: The time to think about tomorrow is today – urgency![/rb_sc_text][rb_sc_button title=”See an intelligent enterprise in action. Video: The Intelligent Enterprise Inspired by Adidas” customize_align=”1″ aligning=”center” btn_size=”medium” btn_font_color=”#ffffff” btn_font_color_hover=”#ffffff” btn_bg_color=”#3b7eff” btn_bg_color_hover=”#3b7eff” btn_border_color=”#3b7eff” btn_border_color_hover=”#3b7eff” url=”https://forms.zohopublic.com/phoenixbusinessconsulting/form/WatchVideoAdidascasestudyonIntelligentEnterprise/formperma/Ld3svBzCo3h7Odz5TqJ9seubABdquoL8so7Z9XRL0yQ” custom_styles=”.vc_custom_1602936535673{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]A case in point is how Adidas, leveraging newer technologies, followed the process of creating personalized athletic footwear, from initial customer requirements through to shipment. This video gives you an insight into how it built a unique brand experience via an efficient, cost-effective process.

In today’s highly competitive business climate, staying ahead means making urgency the name of the game. Here’s a question you should mull over: When it comes to new-age technology adoption, do you think your organization is falling behind?? Let me know what you think.

I’m looking forward to hearing from you.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post Urgency Is The Name Of The Game appeared first on Phoenix Business Consulting.

Michael Jordan, professor of Computer Science and Statistics at University of California, Berkeley, noted in a recent article in Medium, “Most of what is being called ‘AI’ today, particularly in the public sphere, is what has been called ‘machine learning’ for the past several decades.”

In one of his articles published recently by Digitalist Magazine, Paul Taylor, an expert in Machine Learning, observed that Amazon, which has been investing deeply in artificial intelligence for over 20 years, has been using ML algorithms drive many of their internal systems. It’s core to the capabilities their customers’ experience…”

Long before many of us had even heard of ML algorithms, Google, Airbnb, Uber, Facebook, Amazon and companies like them were using ML to fuel their customer experience and growth. So, ML is nothing new and it is not happening in the future. It has been happening for the last 30 years. The key difference is that today’s ML algorithms are more advanced. In its current state, ML is a subset of the bigger and wider technology we know today as ‘Artificial Intelligence.’

A recent study prepared for SAP by the Economist Intelligence Unit surveyed 360 organizations, revealing that 68 percent of respondents are already using ML. The report adds: “Some are aiming even higher: to use ML to change their business models and offer entirely new value propositions to customers…… ML is not just a technology…It is core to the business strategies that have led to the surging value of organizations that incorporate it into their operating models – think Amazon, Uber, and Airbnb.”

These companies are fast learners.[/rb_sc_text][rb_sc_button title=”Download SAP report: Making the Most of Machine Learning: 5 Lessons from Fast Learners” customize_align=”1″ aligning=”center” btn_size=”medium” btn_font_color=”#ffffff” btn_font_color_hover=”#ffffff” btn_bg_color=”#3b7eff” btn_bg_color_hover=”#3b7eff” btn_border_color=”#3b7eff” btn_border_color_hover=”#3b7eff” url=”https://forms.zohopublic.com/phoenixbusinessconsulting/form/DownloadMakingtheMostofMachineLearning5Lessonsfrom/formperma/pE81PvJYPuE-Wxgdgec3m3UrZaY2VU44CGiv8U6LyMA” custom_styles=”.vc_custom_1602936059206{margin-top: 25px !important;margin-bottom: 25px !important;}”][rb_sc_text show_divider=”1″]Fast learner organizations have benefited from their senior-most management who saw and understood the strategic value of ML. However, making effective use of ML — and AI for that matter — is not just about good management. It is about the senior level grasping the importance of ML and AL in today’s highly competitive environment and making use of these technologies as strategic and tactical components in all customer-touching initiatives. This is also the initial step in transforming your organization into an intelligent enterprise.

Let me know your thoughts.

By: Venkat Nanduri[/rb_sc_text][/vc_column][/vc_row]

The post Making the Most of Machine Learning – 5 Lessons From Fast Learners appeared first on Phoenix Business Consulting.

I cannot give you the formula for success, but I can give you the formula for failure. It is: Try to please everybody.
– Herbert Bayard Swope

Since most of us spend a considerable portion of our daily time on mobile apps and since they have a plethora of options for every app niche, knowing their specific needs, priorities, preferences, and expectations become very crucial for app marketers. This is why every app must conduct elaborate market research before starting with an app project. Even while the app is ready for launch, you need to make a launch plan based upon the most suitable channels and marketing message for your target audience.

Missing On A Pre-Launch Campaign

A vast majority of the app marketers mainly concentrate on the post-launch app marketing techniques and measures while completely missing on the pre-launch campaign. This prevents the app to create buzz and hype just around the time when the app is launched. As and when you launch the app, already a considerable number of people should expectantly look forward to your app and this requires long-drawn marketing efforts leading up to the app launch event. To create pre-launch buzz and hype about the app a mobile app development company has an array of marketing options like social media campaign, search engine ads, video ads, email campaigns, etc. Apart from online options, you can also reach out to the wider audience with traditional marketing options like outdoor ads, print ads, media ads, and promotional events.

Just as a retail business in real life is remembered not just for its product offerings but also because of its services, support, and customer-friendliness, an app that offers a helpful customer support system for its valued users enjoy more traction and engagement than other apps. Great brands all over the globe enjoy appreciation and popularity because of their customer-friendly support and services.

The post How To Make Your iOS 13 Compatible? appeared first on Phoenix Business Consulting.