Companies need to take advantage of innovative tools to expand, says House President

Innovation and Technology can provide the essential tools to companies based on the island, to conduct business beyond tight geographical boundaries and expand relations with customers around the world, President of the House of Representatives, Demetris Syllouris, told the CIM Summit 2017, on Saturday.

“In our era of constant technological change and development, modern ways of conducting and developing business are mandatory for all businesses. Innovation paves the way for products and services to be introduced to consumers in a more interactive and direct way, using technological tools previously unavailable” he said, according to a press release of the Press and Information Office.

Cross-channel communication, he said, “between provider and consumer through various media allows a business to get to know its customers, understand their needs, expectations, and preferences and proceed to satisfy them”.

“Without doubt, technological change, modernisation and constant adjustment and adaptation of existing procedures are essential requirements,” he noted.

He said that in the case of Cyprus the ongoing economic crisis continues to challenge the companies and stressed that other tools to the ones previously available may help and force companies to embrace new and innovative ways.

“As a society and as a state, we need to provide for a friendlier environment for start-ups to thrive in and in which to develop their presence in the market even further. The business world is fast transforming into a global village and we cannot afford to stay outside it,” Syllouris stressed.

Innovation and technology, he concluded, “can provide the essential tools to companies based on the island, to conduct business beyond tight geographical boundaries and expand relations with customers around the world”.

Source: Cyprus News Agency