Many reports show that now, more than ever, it pays to embrace technology. Tech streamlines internal operations, maximises external reach, and aids employees in rote transactions. However, new business technology in the UK is being adopted at lagging rates. Statistics even show that many small to medium-sized enterprises (SMEs) don’t engage with tech at all.
This can be attributed to different reasons — from difficulty finding trustworthy people and products, reluctance to change, to cost. However, adjustment is crucial if your business were to survive in the digitalising 21st century. To help, here are our tips on where to start and how to go about making the proper tech decisions for your business.
Investing in the right tools
It’s important that businesses only invest in tools that they know they need and will fit into current systems and processes. See how small businesses in the UK invested more in cloud technology during Covid-19, instead of hard equipment for the production line. This was a better approach to boost productivity because it capitalised on SMEs’ strength in fostering personal interaction and customer acquaintance.
By being selective about your tech, unnecessary expenditures are avoided and gains are maximised. Society already has a tendency to panic buy or exhibit mob behaviour, which the book Algorithms to Live By describes is the result of an “information cascade.” After all, it’s a natural instinct that we assume someone knows something we don’t when they do something different and others follow suit.
That’s why many SMEs may feel overwhelmed with the range of innovative products on offer when the trick really is to simply pick out the few that can benefit your business the most.
Establishing your goals
Businesses must first set realistic project goals by analysing the market and the industry. Think ahead one year down the road: how have operations changed thanks to the new technology? What do the numbers look like? From there, circle back and evaluate how each tech investment would help you achieve these objectives.
These goals can then be used as the basis when purchasing the tech tool. Afterwards, it is still crucial that the team never loses sight of the end goal, lest the tech’s potential will go to waste.
Having the right team
When creating goals, a comprehensive set of perspectives from all stakeholders — advisors, managers, and employees — will help determine how technology will integrate with your existing processes. There may be a shortage of skills too, and onboarding an ideal technology vendor for training and implementation support can help.
Here, it’s crucial to recognize that technology is just a tool. Business magazine Forbes stresses people are the heart of everything done in business. Simply knowing how to operate the tech isn’t enough, one has to be a team player with softer, emotionally intelligent skills to place the tech into the context of industry demands. Therefore, the right team members will make the difference between 100% adoption of the tech and a waste of valuable budget.
Developing an IT strategy
Besides a business plan, an IT Strategy as we’ve previously discussed is the key to growing your business. This considers your long and short-term goals while detailing the ways your technology will accelerate progress through times of uncertainty. Developing an IT strategy starts with taking a look at your current IT infrastructure and determining whether this will grow with your business, or whether you’ll need to look at new tech.
Ultimately, identifying the right hardware and software for your business can be tricky. That is why consulting with an IT support partner is important and can help spot potential issues that you hadn’t noticed. At ITC Service, we offer a range of support packages that are customised to your unique requirements. With that, your business can stay ahead of the competition for the years to come.
