5 Ways Apps Can Help Reduce Costs and Increase Revenue

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Partner Post - Fliplet - Build an app for your business

Posted: November 17, 2015

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Fliplet, is a UK start-up that helps businesses create apps for internal use explains the eight core elements of an enterprise mobility strategy.

Philip is Business Development Manager at Fliplet. He loves all things mobile and the constant changing digital landscape. He is a passionate skier and likes nothing better than hurling himself down a mountain with the wind in is hair and then rocking up for Apres-Ski.

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Many companies are already enjoying the great benefits of enterprise apps, increasing productivity levels and coming up with innovative ways of generating revenue.

In this article we talked about some of the ways in which you can generate revenue from mobile, including mobile advertising and in-app purchases.

However, there are many other less obvious ways in which companies can generate additional revenue thanks to apps, whether it’s by reducing their costs dramatically or creating new sources of revenue.

In this article we look in detail at some of the ways in which apps can do this and hopefully send you on your way towards enterprise mobility, which is no longer the future, but the present.

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1. Increasing productivity

At the most basic level, enterprise apps can help companies increase productivity dramatically. Although this doesn’t directly result in additional revenue generation, it does mean that apps generate extra time for employees to create additional work, potentially leading to higher revenue.

Apps been reported to increase productivity between 34% and 40%. They do this by making business processes smoother, from improving employee communications to making access to resources and training more efficient.

This means that a task that normally takes an hour could now be carried out in around 40 minutes, giving employees around 20 extra minutes per hour to carry out additional tasks, which could save up to 618 hours a year per employee:

20 minutes x 8h = 160 minutes per day or 800 minutes per week.

800 minutes x 52 weeks = 41,600 minutes, minus 28 vacation days (160 * 28) = 37,120 minutes or 618 hours per year per employee.

Now imagine the possibilities once you extend this to all employees within your organisation and you’ll get a good idea of the amount of extra work they could all get done.

Apps are also very effective ways to handle and manipulate data and producing reports than alternatives such as spreadsheets, that require a lot more human input.

An example of an enterprise app that can truly help generate more revenue due to increases in productivity is sales support apps. These are apps that salespeople can use to show their products and services to prospects in a visually engaging way and to easily and quickly access sales materials while away from the office.

They also allow salespeople to easily capture lead data and save it directly into their database, instead of having to write it down on paper and then transfer it using a computer later. Being able to do this on a tablet also means that salespeople don’t need to waste time setting up a computer if they are working away from the office.

2. Reducing costs

Another way in which enterprise apps indirectly lead to additional revenue generation is by reducing costs. There are a myriad of ways in which apps can do this; a good example is training apps.

In this article we talked about the benefits of training apps and how they are much more effective forms of learning for most employees.

By including a variety of media such as videos, images and interactive graphs and requiring employees to complete quizzes in order to test their knowledge, training apps are proving to be much more effective forms of training than traditional methods. Some companies are even incorporating “gamification” into their training apps, making learning into a game and assigning points and badges to employees who perform highly.

As a result, training apps can lead employees to learn better and more efficiently in their own time, using the app whenever is most convenient for them.

Compared to traditional training methods, where employees would be required to attend after-hour training sessions, training apps are much more cost-effective solutions; by not requiring companies to pay for training staff and venue bookings, apps can save them great costs.

3. Creating special app-enabled services

But there are other more innovative ways in which companies can generate revenue thanks to the use of mobile apps.

Although this is a more mature form of enterprise app use and one that is still in its infancy at most companies, many are already benefitting from the new opportunities brought by apps to their company.

These are apps that are not simply increasing productivity or helping to save costs, but which are are actually helping companies create additional services that they can monetise and deliver as part of their offering.

An example of this would be if a law firm decided to provide bespoke apps to give people thorough information on relevant legal issues. These apps could be sold for a small fee but generate considerable revenue in the long run. For example, an app that gives immigrants essential and thorough information on their rights could be incredibly valuable to many.

The great thing about these kinds of apps is that most of the time the costs of creating it will be quite low compared to the benefits, as the company will already possess the knowledge and expertise to provide the right content.

4. Building stronger brands

There is another more subtle way in which apps can allow companies to potentially generate additional revenue simply by helping them differentiate themselves from competitors and appear as true industry leaders.

Companies who provide apps as part of their offering are simply far more likely to strengthen their reputation because of the great branding opportunities offered by having your app displayed in app stores. At the same time, providing an app can give users the impression that your company is technologically savvy, a position which can place you much more in tune with the current times.

Finally, offering users apps is a great way to provide better customer services and to present your products and services in visually engaging ways.

All these elements are likely to help your company appear as a strong industry leader, helping you make more sales and generate more revenue.

5. The Internet of Things

Finally, although the Internet of Things (IoT) is still in its infancy, as we explained in this article we can expect it to very profoundly change the way companies provide their services.

The IoT will do this by collecting large amounts of data from a variety of apps and sensors and combining it in exciting new ways and networks in order to deliver services and products in new, faster and more convenient ways.

This is likely to lead many companies to innovate and generate new revenue streams and business opportunities afforded by the potential of different forms of data combinations.

Those companies who are aware and prepared for the IoT will be best positioned to enjoy its benefits and to generate the most revenue, so beginning to use mobile apps now will be the best way to easily transition into IoT technology.

In conclusion

There are many ways in which enterprise apps can help companies generate additional revenue, even if this is indirectly rather than in the form of mobile ads or in-app purchases. As we approach an increasingly mobile age and with the advent of the Internet of Things, we can expect app-enabled revenue generation to increase much more dramatically. But in the meantime, enterprise apps can still help you save great amounts of time, cut costs and create additional services, all of which can lead you to generate additional revenue.

Find out more on Fliplet’s website here.