Imagine having all the reasons and resources to leverage innovative technologies to grow your business, but lacking the people to set up and launch the system. What would you do?

The only sensible solution is to seek help from technology consultancy, say experts from the industry-leading company Avenga. Professionals can quickly optimize your business processes to align with new technologies, adapt them to the rapidly changing market, and train your staff. Moreover, they’ll inform you about trends that will help you understand the changes and how to use them for successful business operations. Let’s have a look.

Generative AI

Generative AI is a cutting-edge technology that helps create content and enhance customer service. In other words, it’s a smart electronic assistant that writes texts, answers questions, and analyzes data.

In 2024, almost all companies are widely implementing this technology into their processes. Generative AI automates routine tasks, making work faster and more efficient. This means businesses can better satisfy their customers and build trust.

Here are some specific examples of how generative AI is used across various industries:

Content creation

• Jasper AI creates texts for marketing campaigns, social media, and press releases. All you need to do is provide a brief description, and the AI generates a full set of materials.

• AdCreative.ai generates advertising creatives and social media posts, tailoring them to the target audience and platform.

Financial services

• Yooz automates invoice processing and financial management, reducing manual labor and increasing overall accounting efficiency.

• Cleo is an AI assistant for personal finance management, helping users save money and plan budgets better.

Media and entertainment

• BuzzFeed uses AI to create personalized quizzes, attracting users and increasing engagement.

• Generative AI also creates and edits videos, adds visual effects, and simplifies the editing process.

Sustainability and ESG

Sustainability and ESG (Environmental, Social, and Governance) are three crucial aspects businesses must pay attention to today. This means companies should care for the environment, support their employees, and adhere to ethical management standards.

Why is this important?

The world is changing, and people want companies to change too. Customers and investors now expect businesses to not only make a profit but also act responsibly. They want to know that a company isn’t harming the environment, cares for its employees, and maintains honest policies.

How does it work?

To understand how companies implement ESG practices, let’s look at three areas: ecology, social sphere, and governance. In each area, businesses take specific measures to improve their operations.

• Ecology: Companies reduce harmful emissions, conserve resources, and recycle waste.

• Social Sphere: They ensure employee health and safety, and promote equality and inclusivity.

• Governance: They comply with laws and ethical standards, and maintain transparent reporting for customers and investors.

How does technology consulting play a role?

Consultants help companies implement ESG practices, such as automated systems for resource conservation and waste recycling.

Consultants also introduce programs to improve employee health and safety, develop and support equality and inclusivity policies.

Experts in technology consulting assist companies in complying with laws and ethical standards through IT solutions, and create systems for transparent reporting to customers and investors.

Each year, ESG becomes more important. Businesses that adopt these practices gain more trust from customers and investors. Therefore, in 2024 and beyond, we’ll see more companies following these principles and making the world a better place.

Measuring results and ROI

Today, clients want to see real evidence that consulting services provide value. Return on Investment (ROI) becomes a critically important metric.

What is ROI?

ROI is a measure that shows how much money a company earns for every dollar invested. For example, if you spent $1,000 on consulting services and earned $2,000 thanks to these services, your ROI is 100%.

Why is this important?

Companies want to know that their investments in consulting pay off. This helps them make informed decisions and spend money where it’s truly needed. Clients want to see tangible results, not just promises.

How is ROI measured?

Technology consulting provides tools and methods for accurately measuring the effectiveness of implemented solutions. Here’s how it works:

• First, determine what you want to achieve with consulting. This could be increasing sales, reducing costs, or improving efficiency.

• Compare data before and after implementing the recommendations. See how much the metrics improved and how much money you earned.

• Create a report detailing the results and calculate the ROI. This helps you and your clients see the real benefits of consulting services.

Measuring results and ROI helps companies see the real picture and understand that their investments are working. Consultants who can provide concrete methods and tools for this will always be in demand.

“Effective use of technology is the biggest driver of economic efficiency that modern businesses can undertake,” say the experts at Avenga. This means that with the right tools and strategies, you can achieve more and do it faster. So stay on trend, use the latest technologies to their fullest, and remember to measure the results of your actions. This will help you not only achieve success but also make the world a bit better.

We are continuously putting out relevant content. If you have any questions or suggestions, please contact us!

Follow us on Twitter, Facebook, Instagram, YouTube