No matter how long your business has been operating, investing in new technology is always a difficult process. The right technologies can have transformative effects by streamlining workflows, optimizing operations, and maximizing bottom lines. However, an inappropriate technological investment can decrease effectiveness, costing both time and money. With so many different technological solutions out there, making an informed decision is always key.
Analyze Based on Business Needs
The first step of analyzing your business needs is to take an inventory of what technologies are already in place. Take note not only of what is already in place, but how well it is operating, as this can be very informative. You can achieve this by asking questions such as:
- How often is the technology being used?
- What are its performance levels?
- How frequently does it require servicing or replacement?
- Does it successfully aid and enhance operations?
Once a conclusion has been drawn from an analysis of existing infrastructures, you are then in a position to identify any areas which are lacking technology. Alternatively, if no holes immediately present themselves, looking to the future can be just as valuable.
Why not consider which routine tasks are taking up most employees’ working hours? Is there a technology that can perform these tasks to allow for increased employee efficiency in areas that require critical thinking? Some common areas that are improved by technology include:
- Accounting and finance
There are a range of technologies and software on the market that are focused on accounting and finance. Using this type of software will promise to free up working hours, automating tasks such as employee payroll and taxes, while also giving you an up-to-date overview of your business finances.
- Customer service
Automation technologies, such as chat bots, can free up employee working hours by reducing the demand for answers to routine questions.
- Human resources management
Technology can benefit HR in a range of different ways, such as streamlining recruitment, tracking employee engagement and increasing communications.
- Field management
Technologies such as truQC field management software offer custom solutions, that help to gather your data and reveal the insights necessary to grow your business. Industries such as marine, petrochemical, power, healthcare, manufacturing and infrastructure benefit from the ability to report, track and analyze critical field data.
Look for Scalable Technology
The last thing that you want is to invest in expensive technology, only to find that your business soon outgrows it. This is why it can be so valuable to look for technologies that can adapt and grow with your business as it evolves. For example, when looking at software, opt for those which are customized to yourneeds and therefore scalable rather than clunky package options.
Support and Training
Once you have identified and purchased the right technology for your business needs, in order to ensure it is being used to its potential, your staff know how to operate it. When you implement a new technology, this should coincide with a training scheme that enables staff to take full advantage of the resource. It can also be useful to consider what support options are available when buying new technology, as the option to supplement in house knowledge with that of a specialist can prove invaluable.