Over the years, technology has turned out to be one of the most important amenities. Businesses nowadays are looking for the right technology solutions to keep up with the rapidly evolving times. Augmenting the right technologies in the business procedures can improve efficiency, communication, organization, productivity and consequently, profitability.
With so many different types of technologies to choose from, investing in the right ones can be quite daunting. What makes the decision even more difficult is the addition of new and emerging technologies to the list of existing ones.
The challenge is about choosing the technology that will ease your business processes. Let’s take a look at how you can accomplish this easily.
Understand Your Business’s Requirements
Every business has a unique set of needs depending on the business processes and the individuals of an organization. Chances are, you already have a technology infrastructure in place. To make it even more efficient, you would need to analyze the existing infrastructure and identify the aspects that work and the ones that don’t.
Keep in mind that the technology you choose should simplify your business processes and not make it more complex. You can consider speaking to your employees about how the processes can be made easier by improving the technology you already have. One way to start is by asking yourself the following questions:
- Which business processes do you want to change?
- Would you like to automate certain tasks?
- Do you think updating your existing technology will help?
- Are you planning to introduce mobile technology in the workplace?
It is important to fully understand how a specific technology will meet your requirements before making the purchase.
Know the Right Time to Upgrade
It is crucial to know when to upgrade the technology for your business. There are various telltale signs that signal this time. Some of these could include the following:
- You may require boosting your customer service.
- Your business could be facing challenges that require producing more results from few resources.
- A need to upgrade the security measures of your business may arise.
- A technology upgrade may become necessary if you are planning to add more users to your network.
- An upgrade may become a need when a certain equipment breaks down suddenly.
The upgrades will be useful when it supports your long-term strategy.
Do Not Overlook Customer Benefits
Businesses rely on customers. Therefore, their requirements should be put at the forefront in order to ensure steady profits. The technologies you invest in should improve their experience with your business. You can consider investing in technologies that make the customer service process more efficient.
You can provide free WiFi to your customers when they visit your office premises. Did you know that businesses that offer free WiFi to customers have reported 72% success rate regarding improved sales?
If your business premises occupy an entire apartment, you can consider investing in apartment WiFi for this purpose. Facing dead zones? Purchase an additional wireless antenna or a cell phone signal booster.
Not only will this improve the footfall, but it can also help in accumulating customer data. Consequently, you will be able to target ads to their devices based on their preferences and requirements.
In addition to that, technology can also be deployed for faster delivery of products and services to customers.
Focus on Security
One of the biggest technological problems for business owners is security. This is especially true for owners of small businesses. With few protection methods in place, the technologies used can turn out to be quite vulnerable. To prevent hacking, you would need to ensure that all the correct security measures are implemented.
With businesses implementing cloud-computing and mobile devices for improved convenience and efficiency, important data becomes more accessible to hackers unless proper steps are taken to secure the information. You should ensure that the wireless router that you use is encrypted. The devices that you use for business purposes should be equipped with anti-virus software to prevent theft of sensitive information.
Keep in mind that most cyber security attacks stem from human error. Therefore, you would need to devise methods to educate your staff about the security threats and the preventive measures that they should implement.
Technology Should Accommodate Business Growth
The costs of purchasing and implementing new technology can be quite steep. Therefore, it is vital to focus on the long-term benefits while choosing the technology for your business. While considering your current needs, you should also pay attention to the requirements moving forward.
The technologies you choose should support the advancements in your business. As your business grows, the technologies you invest in should still be applicable. You can consider analyzing the upcoming trends and your business requirements and purchase tech tools that will not become outdated in the recent years.
You can join business forums and conduct surveys on how a certain technology that you plan on integrating have fared for other entrepreneurs.
Consult an Experienced Specialist
Investing in the right technology for your business is all about making a well-informed decision. For this, you can consult a technology expert to provide insights on your decisions and suggest tips and methods to ensure a profitable return on your investment.
A specialist will be able to make you aware of the risks involved with each technology implementation, recommend the right tools to invest in and where to draw the line in terms of budget. IT specialists can also help organizations plan and install the most robust security systems for your business. They can also help in designing strategies to monitor and improve database performance.
Have a Backup Plan
Every business must have a contingency plan for the times when the software, hardware or networks fail to function properly. This plan should outline the steps that your staff should undertake in that event. For example, off-site computer operations, recovery methods and so on are some of the strategies that should be included.
The backup plan is essential to ensure that no data is lost in case a system malfunctions. It would also prevent a business from shutting down for a considerable amount of time.
Instead of making multiple technology choices, it is wise to prioritize your requirements and introduce the updates at a pace that is manageable. Updating your systems to meet the technology demands will help you monetize your technology budget. Powering your business strategies with the right technology is a smart move to improve productivity and consequently, revenue generation.