6 Ways a Mobile App Can Be an Enterprise Cost-Saving Tool
Mobile apps are increasing in popularity and adoption. Almost 48% of small businesses have adopted mobile apps, thanks to smartphone adoption and internet penetration rates.
In 2022, almost half of all small enterprises had a mobile application to connect with new and existing customers. This figure represents a 10% jump from the previous year.
In addition, almost 28% of small businesses that did not have a mobile app reported that they had plans to adopt one to support future business growth. These statistics point to the growing popularity of mobile applications in the contemporary business landscape.
Trends in Mobile App Adoption
The rising popularity and the growing adoption of mobile apps come from a combination of factors. For instance, reported findings indicate the following:
- Mobile apps will generate $935 billion in sales in 2023
- Apple app store has almost 2 million apps for download
- There are 3 million apps available for download in Google Play Store
- 22% of millennials open an app 50 times a day
- 5 hours are spent opening mobile apps every day
In addition to these statistics, findings show that in 2022, only 13% of businesses did not intend to release a mobile app, compared to 26% in 2021.
Benefits of Mobile Apps
There’s no denying that the increased adoption of mobile apps comes because of several reasons:
- Faster operation. Mobile apps are way faster than websites and web browsers
- Personalized experience. Mobile apps have one-on-one support
- Online and offline. Mobile apps have both online and offline capabilities
- Instant updates. Mobile apps provide instant updates and notifications
- Branding possibilities. Mobile apps have a huge potential for branding
- User interaction. Mobile apps extend enhanced user interaction
- Robust features. Mobile apps embed many features that enhance their usability
Despite the far-reaching implications of mobile apps in the contemporary business landscape, a key reason enterprises adopt mobile apps is due to their cost-cutting capabilities.
6 Ways a Mobile App can be a Cost-saving Tool
1. Inventory management, control, and tracking
Published statistics note that the inventory carrying costs will total approximately 20% to 30% of the total inventory value. Essentially, inventory carrying costs are calculated as a percentage of a business’s total inventory at a specific time and in a particular period.
Mobile apps make it easy to track inventory costs. Mobile apps make it easy for shop floor managers to check inventory levels, process payments, and analyze daily activities. In addition, mobile apps help organizations check the day-to-day inventory activities in real time.
2. Employee visibility
Employee costs are a critical expenditure. Employee costs cover salaries, overheads, recruiting, equipment, pensions, and employer national insurance contributions. Managing and monitoring your employee costs can help you achieve cost-saving opportunities.
Mobile apps facilitate employee tracking and help in team management. Mobile apps help managers to get the most appropriate worker to the job in real time. In addition, it helps managers to know an employee’s whereabouts in case of a disaster – and track time accurately.
3. Shipment and logistics tracking
Shipment issues are bound to occur in any organization. Items are likely to be damaged or destroyed during a shipment. Shipping costs are sometimes unreasonably high, and lacking knowledge about international shipping continues to take a toll on most companies.
In addition, shipping route disruptions and the stress of route disruptions continue to affect organizations of different sizes and scales. Harsh environmental conditions and lost items further derail the free movement of goods and deliveries. Luckily, mobile apps offset some (if not all) of these challenges.
GPS tracking apps allow visualization, optimization, and updating of routes, saving shipping time and fuel costs. Real-time visualization helps trucks and shipments to avoid challenges related to route disruptions and costly damages.
4. Measuring asset performance
A popular saying states that what cannot be measured cannot be improved. Measuring is a critical part of improvement and service performance cannot be achieved if it can’t be measured.
Luckily, mobile apps provide more opportunities to evaluate asset performance. Mobile apps ensure that assets run at full performance through shorter maintenance and shorter response times. Mobile apps further provide visibility in machine and plant performance, helping shop floor managers monitor plant health through predictive maintenance.
5. Mobile CRM
Customer relationships are the lifeblood of any successful enterprise. Successful organizations are anchored on superior customer service, allowing organizations to be at the forefront of customer adoption and retention.
Mobile apps have bridged the gap between customers and support. Today, more than ever, organizations are connecting more with consumers, thanks to mobile apps. One way that mobile apps help to reduce customer contact time is through real-time chat support.
Mobile apps allow enterprises to collect and process meaningful information. Customer feedback can be collected and processed in real time. In addition, mobile apps help to address customer disgruntlement since concerns can be received and processed without wasting time.
6. Replace manual processes
Did you know that mobile apps have reduced labor-intensive business processes? Going paperless helps with environmental responsibility and conservation and opens cost-cutting opportunities, allowing enterprises to invest their money in more meaningful business processes.
Mobile apps provide automation capabilities, reducing manual processes to cut costs and save time. In addition, going paperless not only reduces the often paper-oriented tasks, it significantly reduces the risks associated with manual entries.
How Mobile Apps Transform Business Processes
Against the backdrop of business process improvement are huge obstacles and customer-facing challenges that must be solved. Luckily, mobile apps have helped offset most of these challenges through better and more improved digital capabilities.
Mobile apps help with systematic data processing and management. Today, organizations collect and analyze significant amounts of data in real-time and use this data to make improved business decisions.
In addition, mobile apps provide improved marketing of new product offerings. Before, organizations used offline media to reach their target audience. Traditional offline media included newspaper ads, mail advertising, billboards, and TV advertisement.
Today, mobile apps have reduced traditional advertising costs with new and improved marketing models. Mobile apps have increased customer reach because over 6.8 billion users have smartphone devices. In addition, approximately 5.1 billion people globally have an internet connection.
If you consider the growth of remote working, you realize just how important mobile apps are in this transformation. Work-from-home is a new standard for most countries and across diverse industries.
The U.S. Congress adopted a new directive that shifted the standard work week from 40 hours to 32-hour work-week, providing room for an efficient workforce. Achieving work-life balance has been a pressing issue for most workers. However, with the rising adoption of smartphone devices and the infiltration of mobile apps, organizations are today achieving work-life balance and creating efficient workforces.
Therefore, looking at mobile apps, you realize the cost-saving opportunities they have provided to individuals and organizations. From digital marketing to remote working, mobile apps continue to free e-commerce and revolutionize the digital marketplace.
NS804 – Reliable Mobile App Development Partner
NS804 supports organizations throughout the different lifecycle stages of mobile development. NS804 works closely with many stakeholders (app developers, business owners, and marketers) to develop highly customized apps. Our vision is to bridge gaps in mobile app adoption by businesses and customers.
Reach out to us for mobile app development solutions.
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