Dependability is a critical asset to the operations in any business infrastructure, and the efficiency of those operations is what gets things done. The pandemic, no doubt, has clearly shown us the importance of efficient digital operations. Today’s digital technology plays a key role in delivering on that dependability and reducing overhead costs for the year 2021 and beyond. Kevin Mulleady shares his thoughts about the role of efficiency in digital operations and how improving it can make an impact on the bottom line.
How Efficiency Helps Get Things Done
Small daily tasks that end with the same outcome can become more efficient with automated technologies. Kevin Mulleady recommends that artificial intelligence is a great way to help free up more time for your staff to focus on other tasks. Keep in mind that artificial intelligence (AI) is not the end-all solution, nor is it a good staff replacement. It is simply a tool, and specialized tools are better at some tasks than others. “Understanding how systems need to be supported in order to function effectively and efficiently gives one a clearer view of how to build their business from the ground up,” explains Kevin, successful entrepreneur. “Entrepreneurs have to learn to lay a foundation for their teams to build on – a common purpose and starting place.”
Digital Efficiency Makes the Difference
Kevin Mulleady is not the only one who believes that technology platforms can increase efficiency. Other successful professionals, such as Sreenivasan Rajagopal, Head of Products and Strategy at Broadcom Inc., are also chiming in about the importance of artificial intelligence (AI) in efficiency. “The digital economy, according to the Bureau of Economic Analysis, is 9% of the U.S. Gross Domestic Product (GDP),” explains Rajagopal. “It ranks only slightly lower than manufacturing, which is at 11.3% GDP, and slightly above finance and insurance, which is about 7.5% GDP.”
It is clear to Rajagopal that “…digital economy is firmly in our lives.” He says that “digital operational excellence is critical for customers to drive profitability and growth in the digital economy.” In short, now is the time to optimize online systems in order for businesses to reap those benefits.
An Engineering Mindset Helps Meet Efficiency
Having an education in the engineering field, Kevin Mulleady sees the value in making business operations more efficient. Efficiency is the key whether it is building a stronger bridge or a faster cheeseburger assembly line. Through the businesses he has seen rise and fall over the years, the efficiency of a business always makes the difference. That efficiency is fuelled by resilience and a shared vision with the company team reveals Kevin Mulleady. “You have to provide them with a strong cornerstone or they will not know in which direction to build.”
Kevin Mulleady credits what he has learned in engineering to his success as an entrepreneur and CEO of The StoneCorner Group, LLC today. “The great thing about the sciences is that they teach you to ask questions, inadvertently showing you how trial and error is all part of the process,” he stated. “You must experiment to learn.”
Digital Efficiency – The Future of Business Optimization
Kevin Mulleady acknowledged that online technologies are a big player in increasing the efficiency of businesses everywhere and helping company teams get more things done. Clearly, the digital trend continues to grow. He likened it to a famous Greek quote he has often used in his professional thought process.
“The whole is greater than the sum of its parts,” says Kevin, “this statement, first coined by the notable philosopher, Aristotle, describes the very essence of synergy. When one truly has this combined effort, be it in many forms, and embraces it, they will quickly realize how much can be accomplished as a team.”
Rich Lane, the Senior Research Analyst, Infrastructure and Operations at Forrester Research Inc., also agrees with this line of thought. “In operations, for a number of years… we’re afraid of changing things sometimes, or we just didn’t think about it,” explains Lane. “Tooling is often the last thing to change because we’re spending so much time on project work and modernization, and fighting fires on a daily basis. That problem is going to get worse if we do nothing.”