The emergence of new technologies has transformed business models and work dynamics within organizations. These changes have forced companies to jump on the digital transformation bandwagon to survive in an increasingly competitive market.

In a constantly changing market with increasingly demanding consumers, constant innovation is inherent to the way businesses are managed today. Every company strives to win the battle to become more competitive, reduce production costs, and increase productivity.

But how can this be achieved? How can I make my business more competitive in an increasingly demanding market? What types of technologies can I access as an SME owner? Osvaldo Larancuent, an expert in cybersecurity and digital transformation of companies, will answer these and other questions.

AMCHAMDR spoke with Larancuent before his talk, "Boost Your Business Productivity," which he will give at the Business Meeting this Thursday, July 11, at the Moca Wholesalers in Provisions Association Club. He gave us a sneak peek into his presentation, which we're sharing with you.

QUESTION: Technology has revolutionized the management of SMEs. What digital tools are essential for increasing business productivity?

Excellence in business management is aligned with a strategic plan, whose goals are measurable and allow for estimating productivity from different perspectives: financial, processes, clientele, and organizational capabilities. The ideal organizational tools or platforms are management information systems (MIS), which are distributed along different axes:

1. Operational management with ERP: Manages different resources: products, services, talent, financial aspects, suppliers, among others.
2. Customer management with CRM: Documents the relationship between customers and the organization over time, regardless of the point of interaction or service channels such as: in-store, telephone service, chat service, email service, mobile/web application service, among others.

• Marketing/Sales Management: The marketing of products or services via the web falls into the realm of electronic commerce (eCommerce), with different tools for managing: (1) promotion via the web, mobile applications, and social media platforms; (2) acceptance of digital payments (cards, bank transfers, specialized services, and others); (3) delivery (tracking the delivery of the product or service).

QUESTION: Could you tell us what are the three most common mistakes companies make today that affect their competitiveness?

First, the lack of a strategic plan that clearly defines goals and indicators to measure performance. Let's remember the famous saying: "What isn't measured can't be improved."

Second, web presence. Every company should have a web and social media presence so that their customers know about the products and services they sell and are aware of their interactions with them, which impact the company's brand reputation.

And third, understand your customer base. Pay attention to the composition of your customer base through data analytics to identify opportunities, strengthen their loyalty, and identify competitive changes affecting them.

QUESTION: What training does today's entrepreneur need to optimize their business management skills?

Today's entrepreneur must possess three basic skills. The first is strategic planning, which we know as the ability to organize capabilities; measure performance; understand opportunities; identify threats; and leverage digital tools and innovations to lead the market.

They must also possess digital skills, meaning they have the ability to navigate the web, search for information, create digital content, and interact on social media or texting services.

And finally, manage analytics. Today's executive must take advantage of the web's capabilities to connect with customers digitally, identify dislikes and dissatisfactions, and analyze their tastes and preferences.

QUESTION: How should a local company cope with increasingly unpredictable market changes?

The first thing you must have is efficiency. And how do you achieve this? Adopting digital platforms that streamline the collection of important information about your organization's management and customer behavior allows you to stay ahead in the market.

The second is active listening. Every company has a set of customers with different profiles: some adopt changes immediately, others delay, and others lag behind. Knowing your customers, what they say, and how they feel allows you to create enriching experiences that maintain customer loyalty.

And last but not least, innovation. Every company faces different competitive forces that affect the speed at which it delivers services (internal processes), the customer business segments it serves (positioning), the levels of demand or preference (products or services), and radical changes in markets (paradigms).

QUESTION: What would you recommend to people who are thinking of starting their own business?

Don't reinvent the wheel, but adopt a methodology. One of the most widely used methods for creating value propositions today, and one I personally recommend, is Design Thinking, which detects opportunities in five steps: empathize, define, ideate, create prototype, test.

Another piece of advice I can give is: Define your business model. If you already know what you'll sell, now set a price, identify your clientele, the resources you need, how you'll promote it, how you'll deliver it, and more.