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6 Game-Changing Modern Business Solutions to Watch in 2024 and Beyond

Blog: Comidor Blog

Incredible news awaits amidst the challenges of 2023’s economic downturn! While it may have cast a shadow over numerous industries, brace yourself for an exhilarating turnaround in 2024! Here is your chance to use six modern business solutions to change the game in 2024. In this article, we will walk you through what they are, the advantages they will generate, and helpful tools. Scroll down for details!

1. Leverage Business Process Management Techniques

1.1 Why Should You Automate Business Processes in 2024?

1.2 What Tools Should You Use?

You can adopt some workflow automation software offering pre-built connectors such as CRM (Customer Relationship Management System) and ERP (Enterprise Resource Planning). They can seamlessly integrate with existing systems, orchestrating tasks, routing information, and triggering actions automatically.

Artificial Intelligence/Machine Learning (AI/ML) tools can learn from data, make decisions, adapt, and improve your business process. Robotic Process Automation (RPA) refers to the automation technology using digital robots or bots to handle manual work or tasks.

RPA tools can automate repetitive tasks such as inventory level tracking, purchase order generation, and warehousing process optimization. Meanwhile, AI/ML gets insights from in-depth analysis of historical sales data, seasonal trends, and external factors for more accurate demand forecasting. It can proactively adjust inventory levels to minimize stockouts and overstocking and streamline logistics accordingly.

Hence, your team has more time on more sophisticated tasks like strategy development rather than being stuck with tedious and time-consuming tasks.

Business process management software can help you automate process mapping, reduce bottlenecks, and monitor real-time performance.

There will be unique advantages for your business if you combine BPM with RPA in your management. The combination enables you to integrate your existing systems with modern ones more efficiently. It will generate process improvement, which sets up for long-term development of your business.

RPA in business processes | Comidor Platform2. Invest in Low-code Solutions

The Low-code Development Platform Market is projected to be valued at USD 16.17 billion in 2024 and is forecasted to surge to USD 62.15 billion by 2029, with a remarkable compound annual growth rate (CAGR) of 30.90% during the forecast period from 2024 to 2029

A low-code platform is a visual software development environment that allows you to build custom applications with minimal coding. Its big advantage lies in a drag-and-drop interface and pre-built components.

2.1 Why Should You Adopt Low-Code Applications in 2024?

2.2 What Tools Should You Use?

workflow automation with Low-Code | Comidor Platform3. Strengthen Security with Blockchain Technology

Blockchain is a distributed database or ledger facilitating the process of recording transactions and tracking assets. It is mostly used in cryptocurrency systems, yet many other industries apply blockchain technology to level up their business process management.

You can see the contribution of blockchain to the supply chain in tracking the movement of goods and materials by its immutable blockchain records. Besides, it offers smart contracts, which facilitate the automatic execution of agreements. It can profoundly reduce manual work and process bottlenecks.

In retail management’s security, blockchain can combat counterfeits by issuing unique digital identities for your products, verifiable on the chain. Explore the specific advantages of security that the technology helps your business below!

3.1 Why Should You Apply Blockchain Technology in 2024?

3.2 What Tools Should You Use?

How Blockchain works | Comidor4. Upgrade Your Production with Digital Twin Technology

The year 2024 will see digital twin technology becoming more than just a futuristic concept. Businesses across industries are leveraging their power to drive tangible benefits.

Digital twin virtually represents an object or system, spanning its lifecycle. The technology uses real-time data updates, simulation, and machine learning to support the process of your product design and production.

4.1 Why Should You Use Digital Twin Technology?

4.2 What Tools Should You Use?

Robotic Process Automation vs Artificial Intelligence | Comidor Platform5. Implement a Cybersecurity Mesh Architecture

Cybersecurity Mesh Architecture (CSMA) is a collaborative and dynamic approach to ensure security across your business on digital platforms. You can think of CSMA as a web of interconnected and resilient defense against modern cyber threats.

The Gartner Report showed companies adopting a CSMA with security tools will undergo around 90% less financial impact by individual security incidents by 2024. Such an insight puts the cost-related benefits in the limelight. Is it all about its benefits?

5.1 Why Should You Implement a Cybersecurity Mesh Architecture?

5.2 What Tools Should You Use?

web and cyber risk data- image 26. Facilitate Data Integration

Data integration, as its name suggests, collects data from multiple sources across your business in one place for a holistic, accurate, and real-time dataset.

6.1 Why Should You Start Data Integration in 2024?

6.2 What Tools Should You Use?

what is low-code agility | ComidorConclusion

The six modern business solutions above will provide your business with a competitive edge in 2024 and beyond because of their superior functionalities. We hope our thorough guidelines can equip you with essential information. As a result, you can effectively apply them to improve your business.

Being updated and having experts’ consultancy are two important factors to keep your business thriving in this competitive market. Contact us to have expert support with personalized vertical solutions to enhance your business management and development today.

The post 6 Game-Changing Modern Business Solutions to Watch in 2024 and Beyond appeared first on Comidor Low-code Automation Platform.

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