Sometimes it’s hard to distinguish the facts about cloud from the hype. Cloud technology is having a substantial impact on the way organisations operate and stay competitive. Using apps to carry out common tasks through a dedicated software program helps organisations to reduce costs and improve productivity. The popularity of Xero, Salesforce and Dropbox are a testament to business appetite for cloud apps.
This issue has been highlighted in a recent study from Pb7 Research, titled the Small Business Cloud Barometer 2015, which considered how cloud-based solutions are improving business performance globally.
According to the results, enterprises are seeing a notable upswing in productivity when they use cloud services. The report found organisations that used cloud services recorded a 25 per cent boost to revenue compared to those companies that avoided online solutions.
Among the US results, the report cited that 51 per cent of businesses are now using some form of cloud software, while 29 per cent are using three or more cloud services.
While these services are clearly important for small to medium sized businesses looking to improve their productivity, it is equally important to consider which platform will add the most value.
Dazychain makes it easy for banks, law firms and in house counsel to procure and manage legal matters and cases.
This level of functionality makes it easy to streamline the procurement process, reducing the amount of administrative work that is required to manage the relationship with a professional service. Likewise, the insight this software offers makes it easy to identify areas where a company can lower costs or move to a superior service provider.
The enforcement and recovery teams at Bendigo and Adelaide Bank use Dazychain to manage cases internally and to engage panel solicitors to provide instructions. They achieved remarkable results implementing Dazychain to manage their workflow process:
- Reduced collections from 150 to 130 days
- Estimated saving up to 110 hours per month
- 5 minutes saved on each Notice of Default
All other instruction timings dropped between 1 – 4 minutes each, with an average of 30 standard instructions per month
Clearly, cloud technology can play an important role in reducing costs and increasing productivity within the SME space. For organisations that are yet to invest in these services, finding a cloud-based solution that is right for its specific operational services will be an important first step in achieving these results.