Many entrepreneurs underestimate the impact of inefficiency. In an era of increased competition, companies that do not continually optimize their processes risk being outperformed by proactive competitors. In fact, with today’s labour scarcity, increasing process efficiency and limiting losses is often a matter of survival.
Many technologies allow companies to maximize their efficiency and generate more revenue. This article shows you how to leverage Microsoft’s Power Platform and Dynamics 365 to do so:
What’s the Power Platform?
Microsoft’s Power Platform is a tool belt that allows companies to analyze, accelerate, and automate their processes. So, you’ll find the famous: Power Apps, Power Automate, Power BI, Virtual Agent. In fact, these four tools give you the means to build your own solutions to accelerate your business.
What about Dynamics 365?
Everything is interconnected. The prebuilt Dynamics 365 applications (Sales, Marketing, Customer Service, etc.) are themselves built with the Power Platform. These applications allow you to quickly implement industry best practices to manage your business processes.
How does Dynamics 365 help you generate more revenue?
Dynamics 365 allows you to increase your revenue by simplifying your decision–making and reducing your workload. Whether it’s by helping you better focus your efforts on your leads or by automating your marketing processes, this Microsoft tool is a great ally to boost your revenues for these 3 reasons:
1. You’ll know where to invest your time to close more sales
Dynamics 365 allows you to close more sales and focus your efforts in the right places. For example, you could use Dynamics 365 Sales applications which allow you to:
- Track your leads and potential sales
- Qualify leads and prioritize them according to their potential revenue streams
- Make evidence-based decisions in real time
- Improve your sales team’s coaching and performances
This means that closing your sales will require less energy. You’ll identify opportunities to focus on more effectively.
2. You’ll automate your marketing to increase your sales
Dynamics 365 also allows you to automate your marketing. Not only do you save time, but you also offer your leads a more personalized approach. Indeed, you’ll be able to carry out targeted advertising with a positive impact on your lead qualification rate.
3. You’ll offer a better customer experience
You can automate responses when a potential customer asks you a question via email, based on your customer journey. Indeed, businesses that contact potential customers within an hour of their request are 7 times more likely to qualify them as a lead. For example, you could add a chatbot (virtual agent) on your website to offer immediate answers to your leads and increase your sales.
How to increase efficiency with the Power Platform?
Inefficiencies in your business processes can cost you 20% to 30% of your revenue each year. With the Power Automate tool, you can reduce your operating costs by optimizing your business processes, like automating tasks through workflow implementation.
This allows you to automate most of the repetitive tasks in your organization via the Power Platform. Whether it’s approval processes or business processes, you can reduce time spent on administrative tasks by up to a staggering 50% and lower related operating costs.
Here are two examples:
AI Builder – optimize your processes with artificial intelligence
AI Builder, the Power Platform’s artificial intelligence tool, can accelerate many business processes. For example, you could leverage automated detection of form content. If you’ve ever deposited a cheque at the new Caisses Desjardins ATMs, the process of reading the amount is based on the same technology. Similarly, the entire cycle of approval and tracking of these forms can be automated.
-> Read our article to learn more about AI Builder.
Centralize your data
Relying on a single system allows you to respond more quickly to customer and prospect requests. It’s particularly noticeable in the customer service department. Indeed, your team will be able to respond more efficiently to customers by viewing all relevant data in one place. That way, your employees will be able to handle more calls in one day. And you’ll reduce your costs.
How can you reduce your losses with Power Platform and Dynamics 365?
In addition to increasing your sales and maximizing your efficiency, the Power Platform and Dynamics 365 tools can help you reduce your losses.
An application to track your equipment
For example, you could create a Power Apps application to track your company’s corporate hardware (mouses, laptops, etc.). It would allow you to know the real-time location of your equipment and limit related losses. This type of application is simple to create and can also be used by businesses renting equipment or installations.
Want to learn more about how to use Power Platform and Dynamics 365 to tackle your business challenges? Sign up for one of our free workshops to learn how to build your Power Apps applications. You can also contact one of our experts to get personalized advice.