With innovations in technology often come QoL or quality of life changes in modern societies. Tech disruptions like, say, the internet, smartphone technology, and mobile data have revolutionized how people communicate and how businesses are run. Indeed, if there’s one clear game-changer in today’s world, it’s technology.
It would do businesses well to embrace new technology or get left behind by the competition. Of course, investing in it must be practical, meaning done gradually if immediate adoption means compromising one’s financial security. In other words, businesses should invest based on needs and budget, and do so slowly but surely. It goes without saying that a business must only invest in technology that is needed in the industry to gain a competitive edge, and not just because it is new or still untested.
Aside from gaining the upper hand, investing in technology improves productivity and efficiency because it allows for speedier work. Automation, for example, simplifies tasks a hundredfold where it’s needed. It would do businesses well to invest in computer programs and apps that can hasten the finishing of complex tasks like collation and computation. The healthcare industry, for example, is benefiting immensely from the arrival of the Internet of Medical Things and Big Data.
With technology investment also come remote access and better customer support. It allows businesses to go mobile, as it were, allowing employees to communicate with the office on the go, as well as access files quickly. Needless to say, this boosts efficiency greatly and improves productivity. Studies have shown that employees allowed to work remotely between 60 to 80 percent actually display the highest work engagement. Moreover, improved interactions with customers are fostered, allowing for real-time transactions and faster feedback via chatbots, social media comments, and private messages.
Pragmatium Consulting Group Inc. CEO Haris Ahmed is an experienced facilitator and has led numerous leadership workshops and team-building sessions. He has personally coached over 100 leaders in public and private corporations, not-for-profits, and the federal sector. More on Mr. Ahmed and his work here.
Tags: technology, business, business tips
Sources:
https://harisahmednaperville.wordpress.com/2017/02/15/why-business-owners-should-invest-in-new-technology/
https://ceoworld.biz/2018/04/11/5-reasons-your-company-should-invest-in-technology/
https://www.cnbc.com/2017/06/29/why-companies-must-invest-in-new-technologies-even-if-it-eats-their-own-lunch.html
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