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Tag: Program Management

PMTimes_Sep04_2024

The Role of Emotional Intelligence in Agile Leadership and Program Management

Written by KC Lakshminarasimham on . Posted in Articles.

The success of agile projects increasingly relies on the emotional intelligence (EI) of leaders. Agile methodologies focus on teamwork, flexibility, and ongoing improvement—all of which are significantly influenced by a leader’s emotional awareness and ability to manage interpersonal relationships. This article explores how emotional intelligence is integral to agile leadership and program management, showing how it can be a driving force for project success and the development of a motivated, resilient team.

 

Understanding Emotional Intelligence

Emotional intelligence, a concept brought to prominence by psychologist Daniel Goleman in the early 1990s, refers to the ability to recognize and manage one’s own emotions while also understanding and responding to the emotions of others. The five key components of emotional intelligence include:

  • Self-Awareness: Recognizing emotions as they occur and understanding their impact on behavior and thoughts.
  • Self-Regulation: Effectively managing emotions, controlling impulses, and adapting to change.
  • Motivation: Maintaining a strong drive to achieve goals, often setting high personal standards.
  • Empathy: Understanding and sharing the feelings of others, which is vital for building trust and strong relationships.
  • Social Skills: Successfully managing relationships, influencing others, and fostering effective teamwork.

For agile leaders, these elements are essential in navigating complex team dynamics, creating a positive work environment, aligning with company strategy and maintaining high performance in demanding situations.

 

The Intersection of EI and Agile Leadership

Agile leadership goes beyond simply guiding teams through sprints and meeting deadlines. It involves a deep understanding of team dynamics, individual motivations, and how change affects both morale and productivity. Leaders with strong emotional intelligence can apply their skills in several key areas:

Building Trust and Encouraging Collaboration

Trust is foundational for any agile team. Leaders who demonstrate empathy and strong social skills can create an environment where team members feel valued and confident in sharing their ideas. This trust fosters open communication, allowing for more effective collaboration and innovation without fear of failure. By addressing the emotional needs of the team, emotionally intelligent leaders can remove barriers to teamwork and ensure the group operates cohesively.

Improving Communication

Clear communication is critical in agile methodologies, whether during daily stand-ups, retrospectives, or sprint reviews. Leaders with high emotional intelligence excel at interpreting nonverbal cues and understanding the emotional dynamics within the team. They can adjust their communication style to fit the situation, ensuring that their messages are well-received and constructive. In parts, they have the ability to contextualize to the larger, strategic goal.  This nuanced approach to communication helps prevent misunderstandings and keeps everyone aligned on project objectives.

Handling Conflict Proactively

Conflict is inevitable in any team, especially in high-pressure agile environments. Leaders with strong emotional intelligence can identify early signs of conflict and address them before they escalate. By approaching disagreements with empathy and a focus on resolution, these leaders can transform potential disruptions into opportunities for growth. Empathy develops over experience and leaders bring in more empathy with their experience. They encourage open dialogue and help team members resolve issues in a way that strengthens relationships rather than damaging them.

Motivating and Engaging the Team

Understanding what motivates different team members is key to driving performance. Leaders with high emotional intelligence recognize that individuals are motivated by various factors—whether it’s the challenge of the work, the desire for recognition, or the opportunity for personal growth. By aligning tasks with team members’ strengths and interests, emotionally intelligent leaders can boost engagement and productivity. They are well aware of balancing motivations and handling conflicts that may arise. Additionally, they maintain a positive team atmosphere by acknowledging efforts and celebrating achievements, keeping morale high even during challenging times.

 

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Program Management and Emotional Intelligence

In the broader realm of program management, where leaders oversee multiple agile projects and teams, the role of emotional intelligence gains significance. Program managers must not only guide their teams but also ensure alignment across different projects, stakeholders, and organizational goals. Here’s how emotional intelligence is crucial in program management:

Managing Stakeholder Relationships

Navigating the interests of diverse stakeholders is one of the most challenging aspects of program management. A high level of empathy and social awareness is needed to understand and address their concerns while keeping the program on track. Emotionally intelligent program managers handle these relationships with care, ensuring that stakeholder expectations are managed effectively and that their support is maintained throughout the program’s lifecycle. This skill is particularly vital in agile environments, where requirements and stakeholder needs can change rapidly.

 

Facilitating Change

Agile projects often involve significant changes, whether in processes, team structures, or project goals. Such changes can be met with resistance, especially if they disrupt established routines. Program managers with strong emotional intelligence can anticipate these reactions and manage them effectively. By clearly communicating the benefits of change and supporting their teams through transitions, they can reduce resistance and help their teams adapt more quickly, ensuring continued productivity.

 

Making Informed Decisions

In program management, decisions can have wide-ranging impacts across multiple teams and projects. Emotionally intelligent program managers consider not only the technical aspects of their decisions but also the emotional and relational consequences. They understand that the way a decision is communicated can be just as important as the decision itself. By involving the right people, considering emotional impacts, and communicating transparently, these leaders ensure that their decisions are well-received and supported by those affected.

 

Building Resilient Teams

The ability to build resilient teams is another area where emotional intelligence is invaluable. Agile projects, by their nature, involve iteration, and setbacks are inevitable. Program managers with high EI can help their teams recover from these setbacks by fostering a culture of learning and continuous improvement. They encourage reflection on failures, facilitate discussions on how to improve, and provide the emotional support necessary to keep the team focused and motivated for the next challenge.

 

Conclusion

Emotional intelligence is not just an optional trait for agile leaders and program managers—it is essential for their success. By developing their EI skills, leaders can improve team collaboration, resolve conflicts more effectively, and drive motivation and engagement. These abilities are crucial for the success of agile projects. As organizations continue to adopt agile methodologies, the demand for emotionally intelligent leaders will grow. Developing and leveraging these skills will be key to thriving in the complex, dynamic world of modern project management.

 

References

Goleman, D. (2005). Emotional Intelligence: Why It Can Matter More Than IQ. Bantam Books.

Druskat, V. U., & Wolff, S. B. (2001). Building the Emotional Intelligence of Groups. Harvard Business Review.

Bradberry, T., & Greaves, J. (2009). Emotional Intelligence 2.0. TalentSmart.

Mayer, J. D., Salovey, P., & Caruso, D. R. (2009). Emotional Intelligence: Theory, Findings, and Implications. Psychological Inquiry.

Dulewicz, V., & Higgs, M. (2005). Assessing Leadership Styles and Organizational Context. Journal of Managerial Psychology.

Boyatzis, R. E., & Sala, F. (2004). The Emotional Competence Inventory. Hay Group.

PMTimes_Jun8_2024

Dealing with Arrogant Clients

Written by Patrick Mwangi on . Posted in Articles.

The clients, being our employers and the key financiers in projects, tend to be insidious at certain times. This is very common during the project conception phase, when the project planning is in motion. As the experienced consultant, I am sure that you had your fair share of dealings and agree that not all of them are cooperative.

Firstly, achieving the milestone of being a consultant is not an easy task. There should be no room for negotiations for such `kind` charges, as you worked hard for that specific reward. Secondly, you are the party with the required information and advice. You bear the responsibility and never bend to demands outside the professional order of practice. That being said, I assume that, as the consultant, you best gauge your client from the briefing stage. If the situation is erratic, abandon the mission with immediate effect. Feeling sorry for the client and being desperate for a project will mess up your career.

It’s also safe to note that clients are often insecure about their finances, especially the sole financiers. This is mainly because there are untrustworthy consultants we hear of every day or who meet with the wrong advisors prior to your counsel. For instance, foremen are known to tell clients that consultants ask for `unnecessary` sums of money and are therefore inconvenient to approach. This messes up the psychology of the client, who ends up concluding that the consultant is the fraud in his plans. This is the precursor to animosity between the client and consultants.

In my practice, I choose to settle on two very clear strategies. Firstly, restrict the authority of the client only to the briefing. Don’t give the client too much power because, as you know, you are first protecting him against himself. Let him speak his mind and ideas as he narrates the house of his dreams, but not tell you how to do your work afterwards! This is the cardinal rule of management. Apart from financing and briefing, the direct influence of the client on the project should be limited.

The young professionals are terrified of such procedures because they fear losing clients because they will miss out on being part of the project, and obviously because of the petty sums offered. Never fear losing the client; it’s part of the job. You dare charge unworthy sums; you are also an accomplice in undermining the integrity of your relevant professional designation. Furthermore, most clients are usually aware that projects are capital-intensive investments and come prepared. The cries and stubbornness you experience are just mind games to salvage as many discounts as possible. It’s not real.

 

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Secondly, embrace the use of contracts to legitimize some of your agreements. The first item here is payments, followed by quality assurance. Where payments are not in lump sums, always demand 60% of your defined sum in advance, especially for project managers. I also recommend you put in writing all site visit costs agreed upon as well as any other necessary allowances. You are also to agree that the quality of work is not to be interfered with in any way because, in case of building failures, the consultant is held responsible. Such interference may result from the misinformation supplied by the foreman regarding reducing the quantity of materials or substituting the designed quality altogether. There may also be future inflation in materials.

Having these agreements in writing helps to ensure that the client remains disciplined regardless of the situation. This will be a win-win event. Remember, this is an agreement between the client and consultant or contractor, where necessary, and must be signed in the presence of a witness of common consideration from both sides.

Dearest client, I am the professional who has the information you require. Kindly listen and adhere to my advice and instructions. It is for your own good. I cannot invent information out of the bushes. I have repeatedly mastered the skill for several years for me to dedicate it to you. Therefore, let me do my work responsibly with no unnecessary interference, as you reward me with what I deserve.

PMTimes_Feb6_2024

7 Best Practices to Implement Resource Planning in the Audit and Accounting Industry

Written by Mahendra Gupta on . Posted in Articles.

A Statista survey reveals that the estimated revenue of the accounting industry will grow to $145 billion.

The growth in the audit and accounting industry can be attributed to various factors, including increased demand for advisory services, the growing complexity of tax regulations, a rise in financial fraud, and ongoing technological advancements. As a result, there’s an increasing necessity for audit and accounting services as companies worldwide aim to safeguard their profit margins and retain a competitive edge.

Nevertheless, these firms encounter several workforce-related challenges, such as a scarcity of skilled consultants, suboptimal resource utilization, burnout, etc. Hence, it becomes crucial for the audit and accounting industry to adopt an efficient resource planning process to optimize their workforce and increase profitability.

 

This blog encompasses the key resource planning strategies for audit and accounting firms and how SAVIOM can help.

Let’s begin.

 

Benefits of resource planning in the audit & accounting industry

Resources are the backbone of audit and accounting firms as they generate revenue by billing their clients for the consultant’s time and expertise. Thus, these firms need effective resource planning to maximize the billable utilization of their employees and increase ROI.

Since this industry experiences seasonal fluctuations, resource planning enables firms to meet the capacity vs. demand gap and fulfill all the project requirements. This approach also bridges the skill gaps, ensuring consultants are available before project onset, thus reducing last-minute firefighting.

Further, it helps these firms identify and assign the right consultants to the right tasks at the right time and cost and deliver top-notch projects. In addition, it also enables firms to remain competitive in a swiftly evolving market and adapt to new challenges.

Now that you understand the importance of resource planning, let’s dive into the essential techniques to implement it.

Here are the seven best ways to create an efficient resource plan in audit and accounting firms:

 

1. Foresee and bridge demand gaps of auditors & accountants

One of the crucial steps of resource planning is where managers forecast the capacity vs. demand gap of consultants for pipeline audit/accounting projects. It will help them analyze the resource requirements ahead of time and take proactive measures to bridge the gaps. For instance, a pipeline project needs four auditors to complete the work successfully.

If the organization has two auditors, it indicates a shortage of two resources. To bridge this gap, managers can implement training programs for junior auditors, utilize out rotation and backfill strategy, or go for planned hiring. Conversely, if they had six auditors, managers could bring forward the project timelines or sell the extra capacity. This will help eliminate the last-minute hiring of resources.

 

2. Allocate competent accounting personnel to projects

The audit firms often utilize niche-skilled employees like forensic accountants, IT consultants, budget analysts, etc., to deliver projects. Since these resources are expensive to procure, managers must ensure they are judiciously allocated to projects based on their skills, availability, etc., to enhance their billable utilization.

Moreover, managers can assign skilled global accounting personnel from low-cost locations per the project requirements. For example, managers can allocate a skilled junior counterpart instead of assigning a senior auditor to audit financial reports. This will help minimize resourcing costs significantly and successfully deliver projects.

 

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3. Build the right mix of contingent and permanent consultants

In the audit and accounting industry, the demand for consultants witnesses a surge during the financial year-end. Therefore, it is imperative to have a blend of on-demand and permanent workforce to fulfill the project demands.

For instance, an audit firm requires a senior tax analyst to prepare and submit the tax filings for a short-term project. Since the existing resources are engaged with tasks, the firm can assign a contingent employee to complete the project on time. Conversely, they can deploy a permanent tax analyst for a long-term project. This will prevent last-minute firefighting for resources, and firms can effectively meet the deadlines.

 

4. Establish & monitor utilization targets of professionals

Most audit and accounting firms leverage internal and external professionals to meet client requirements. Therefore, establishing and monitoring the targets will ensure the blended workforce is utilized to the maximum potential. This will help them prevent operational inefficiencies and increase billable utilization.

For instance, on-demand auditors are hired hourly for short-term projects. Therefore, their billable utilization target can be set to 100%. Meanwhile, the target for permanent auditors can be set between 80-85% to balance their time spent on billable and non-billable tasks. This way, audit firms can optimize the productive utilization of their workforce and ensure seamless project execution.

5. Allow audit & accounting staff to choose projects of their interest

As the audit and accounting personnel spend most of their time working on similar projects, they experience monotony, which leads to disengagement and lowered productivity. To avoid this, managers must allow employees to choose projects of their interest by publishing open positions.

This will enable interested professionals to apply for suitable vacancies, and accordingly, managers can choose the best-fit consultants for the projects. When consultants work on assignments of their interest, it will increase their motivation and performance and improve their career trajectory.

 

6. Create training and development programs as appropriate

According to a survey, 80% of finance and accounting workers say it’s vital for a company to offer training programs to keep them upskilled for the future. 

Training and development programs are crucial in the audit and accounting industry as they help consultants build in-demand skills. For this, managers can formulate various upskilling programs, individual development plans (IDPs), etc.

Further, they can facilitate development initiatives like blended learning, shadowing opportunities, on-the-job training, etc. This will enable the professionals to take up multi-faceted projects, bridge existing skill gaps, and diversify their career portfolios.

 

7. Implement succession planning for critical roles

When consultants in critical positions retire or suddenly exit the firm, it can derail the projects, leading to client dissatisfaction. To avoid this situation, firms can implement succession planning.

For this, managers must regularly monitor professionals’ performance and determine who is eligible for the critical positions. Then, they must provide appropriate training to these resources so that they can take up strategic and leadership roles. This will enhance the consultants’ engagement and ensure project continuity.

Now that we know the steps, let’s understand how ERM software can help.

 

How does advanced ERM software help in effective resource planning?

Implementing Saviom’s ERM tool can enable audit and accounting firms to plan their consultants efficiently. The tool offers:

  • 360-degree visibility and advanced filters enable managers to identify and assign consultants based on their skills, competencies, location, etc.
  • Forecasting and capacity planning enable managers to foresee pipeline project demand and identify the shortage/excess of resources. Then, managers can take corrective measures like training, hiring, etc., to bridge the gaps.
  • BI reports like forecast vs. actual, and utilization helps implement remedial measures to eliminate under/over utilization. Besides, it helps mobilize accountants from non-billable to billable or strategic tasks.
  • What-if-analysis enables managers to create and compare various project scenarios and determine the best-fit resource plan.
  • With the open seat feature, managers can publish open positions, and professionals can choose projects of their interest, thus improving engagement.

 

Final thoughts

Resource planning is essential for audit and accounting firms to maximize workforce efficiency and improve project quality. By implementing the above strategies and a futuristic resource management solution, these firms can optimally utilize the professionals and maintain profitability.

PMTimes_Dec21_2022

Best of: The Paradox of Patience, Planning and Expectations

Written by George Pitagorsky on . Posted in Articles. 12 Comments on Best of: The Paradox of Patience, Planning and Expectations

If your goal is optimal performance, cultivate the mindful awareness that enables clarity and responsiveness. Accept and work with paradoxes to embrace both-and thinking.

A well-respected mindfulness meditation master, advised that “A mind which thinks, expects, and plans, blocks off wisdom.” Following this advice would leave most of our projects at sea without a rudder. That is the problem with a great deal of the mindfulness teachings that have become common in the project management and general business communities – over simplification. The wise embrace both-and thinking.

The full quote is:
“Notice every time the mind is eager for
results and remind yourself of the right attitude.
You need to practice patience.
Only when the mind is simple, can wisdom develop.
A mind which thinks, expects, and plans, blocks off wisdom.” Tejaniya

 

Mindfulness

Mindfulness is the ability to objectively observe everything occurring within and externally. It is beneficial, based on many studies and personal experience. Mindfulness techniques – formal and informal meditation methods – increase mindfulness and concentration. Mindfulness enables responsiveness as opposed to reactivity. Concentration brings calm, relieves stress and enables focus in the face of distractions. Together with effort mindfulness and concentration promote wisdom.

But how many project managers will sign up for simple mindedness? How many organizations will hire simple minded project managers who are not eager for results? Not many.

 

The Wisdom of Paradox – Eager and Patient

Yet, there is wisdom in the master’s advice. Like all quotes it is taken out of context. No meaningful statement about the nature of mind and mindfulness is absolutely true. There is paradox – events or ideas that are unlikely to coexist. Paradox is “seemingly absurd or self-contradictory statement or proposition that when investigated or explained may prove to be well founded or true:” Oxford Dictionaries.

Investigating more deeply, we can know that to be aware of the eagerness for results and to have patience is good advice. Over eagerness in projects leads to rushing to complete, by-passing risk management, testing, and other parts of planning and controlling the project. The over eager stakeholder is more likely to make mistakes and set unreasonable expectations. The eager stakeholder is motivated to achieve.

 

Right Attitude – Patience

The “right attitude,” is to be both eager and patient. Patience is a tough one, particularly when faced with high ranking stakeholders who are eager for results. Patience is “the capacity to accept or tolerate delay, trouble, or suffering without getting angry or upset:” Oxford Dictionaries

Patience requires a stepping back to mindfully observe the uncomfortable feelings that get in the way of consciously taking stock of the situation, planning, communicating, and establishing the most effective foundation for performance. Alan Lokos, in his book “Patience:The Art of Peaceful Living” makes the point that patience is not passivity. Patience is taking control of thinking, speech, and action so that what you say and do makes good sense and gets the results that you want. Patience is an ingredient for effective project management and performance.

Practicing patience requires effort. It requires the ability to notice and be able to accept the urge to dismiss the annoying functional manager or team member who is ‘obstructing’ progress. Noticing and accepting are part of the practice of mindfulness. When I teach meditation practices, I often recommend “sitting with an itch,” patiently waiting for the itch to change or disappear on its own rather than scratching it. Try it the next time you have an annoying itch. It builds the patience “muscle.”

 

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Who Wants a Simple Mind?

Now lets turn our attention to “Only when the mind is simple, can wisdom develop.”

“Everything should be made as simple as possible, but not simpler.” Albert Einstein

To have a simple mind does not mean to be simple minded. A simple mind, in the context of mindful awareness, is a calm mind that sees things objectively, as they are. There is elegance in simplicity. The simple mind can integrate the sophisticated, complex skills and thoughts needed to manage and perform complex tasks in a complex, changing environment. The simple mind is free of the unnecessary noise of biases, confusion, and obsessive thinking.

Bertrand Russell said, “Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.” The simple mind, the mind that is mindfully aware, sits behind it all, open-minded, free of the comforting convictions. It observes objectively. The simple mind is like the eye of the storm – calm and clear while the storm rages. The flies are still there but they no longer get in the way of clear, focused thinking. In fact, mindful awareness promotes greater clarity and focus.

We can have a simple mind and simultaneously achieve objectives by applying our intelligence, skills and knowledge.

 

Planning, Expectations and Wisdom

To say that “A mind which thinks, expects, and plans, blocks off wisdom.” is overly simplistic. It is misleading. It is the kind of thing that can drive people, particularly project managers, away from the practice of mindfulness and the benefits it brings. The meaning is clarified by saying that a mind that is distracted by thinking, that unrealistically expects, and over-plans blocks off wisdom.

Wisdom is seeing things as they are and having wise intention. Wisdom can be blocked by Russell’s “flies.”

In Buddhist thought, things are impermanent, imperfect and the result of a continuous process of causes and effects. Wise intention is to give up the causes of suffering, cultivate good will, do no harm, and to ethically achieve objectives to benefit stakeholders.

Expectations are normal. Planning is necessary if you want to successfully achieve project goals and satisfy stakeholder expectations. However, having irrational, unrealistic expectations leads to disappointment and suffering. Constantly changing the plan moment to moment, gets in the way of being in the moment and performing optimally.

 

The Bottom-line

In the spirit of both-and thinking, we can say that we can both be patient and take skillful action. We can keep the mind simple and apply complex skills and knowledge to complex problems. And we can expect and plan and be in the moment, performing optimally, while allowing wisdom to develop.

Mindful awareness is the foundation for optimal performance. Cultivate it by practicing to focus the mind and open it to the full range of internal and external experience. Practice both-and thinking.

 

Published on: November 18, 2020

Principles of eCommerce Project Management

Written by Ivan Serrano on . Posted in Articles.

What is eCommerce Project Management and Why is it Important?

eCommerce project management is the application of knowledge skills, tools, and techniques in a structured manner to reach eCommerce project goals and requirements. Proper project management can improve a business’s efficiency, foster collaboration between teammates, boost a team’s performance, and improve customer satisfaction. eCommerce project management differs from traditional project management because online businesses function differently at a fundamental level. For example, the storefront management component of a traditional business isn’t relevant to completely digital companies.

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Methods of eCommerce Project Management

  • Lean Project Management

Lean project management is an iterative process, meaning it is meant to be updated continuously until the desired outcome is met. The primary objective of lean project management is to deliver value to the client. This is done by polishing the final product at each stage in the management process, rather than focusing on a long-term implementation plan. In this sense, lean project management is a more reactive process than other management methods.

  • Agile Project Management

Agile project management is another iterative form of management similar to lean project management. The primary difference with agile project management is that each phase of the process focuses on a new element of the final product rather than refining the product at each step. Agile project management also allows for customer feedback to be gathered and implemented very quickly. Flexibility is the primary benefit of agile project management.

  • Waterfall Project Management

Waterfall project management is the oldest method of project management that is still common today. The waterfall project management method is sequential instead of iterative. In this method, the entire project is planned at the beginning of the process. This includes research and development, product introduction, and product launching. The primary benefit of the waterfall method is that your team will have a solid final goal to work towards and an overall sense of direction. However, this method of project management is pretty rigid and does not adapt well to customer feedback or new ideas for implementation.

  • Scrum

Scrum project management has a strong focus on collaboration between team members. Scrum management usually involves short, frequent, oftentimes daily, meetings where team members review project progress, discuss the problems they are facing and plan the objectives for the day. These frequent meetings make it easy to ensure that every member of a team is on the same page. The scrum process is divided into phases known as sprints. Each sprint focuses on creating a ready-to-use product that can be refined in later sprints.

  • Kanban

Kanban is similar to the scrum style of project management due to its use of sprints, but the lifecycle of each sprint is shorter than in the scrum method. The Kanban management style is also more flexible than scrum because it allows for project elements to be refined whenever necessary, not just in later sprints. Kanban focuses on continuous changes and updates that contribute to overall task progress.

Photo by energepic.com from Pexels

How to Plan Your eCommerce Projects

The planning process of your eCommerce project will vary depending on the style of project management you have implemented, but there are a few crucial aspects that are present in any eCommerce planning process.

  • Competitor Analysis

The eCommerce market is growing rapidly and has a fierce amount of competition. Competitor analysis will give you valuable insights into the competition’s strengths and weaknesses, which can benefit you in a few different ways. Firstly, these insights will allow your business to adapt. You’ll be able to avoid the mistakes that other companies have made and implement strategies that have worked. Secondly, competitor analysis will show you what makes your business unique compared to other companies. This will enable your business to focus on a niche in the market that you can better serve.

  • Website Planning and Business Optimization

Having a fast, intuitive website that is easy to use is incredibly important to eCommerce businesses. If your website doesn’t offer customers a good user experience, then it is unlikely that they’ll return to make another purchase. Creating a memorable website goes beyond the design and structure of your website, it should also have modern functionality such as responsive windows and automation. Many online shoppers today make purchases through mobile devices so your eCommerce business’s website should be capable of responding to different screen sizes. Websites that function well on multiple devices generally outperform unoptimized websites. Many consumers also expect websites to have automated functions. Automation can also streamline certain business operations. For example, shipping APIs can streamline warehouse processes and allow more orders to be fulfilled.

  • Advertising

Advertising is important for businesses of all sizes in any industry. There are several channels that can be used for advertising. These include physical advertisements, influencer campaigns, social media profiles, and digital advertisements. Social media is arguably the most important advertising channel for eCommerce businesses because it offers them a means of two-way engagement with potential customers.