In much the same way you invest your hard-earned money for a future return, investing in your company’s technology is investing in its future. While many companies try and stretch outdated technology to cut costs, other companies invest and catapult themselves miles ahead of the competition. Let’s take a look at some arguments for investing in tech and how to know if it’s time to make the leap.
Invest in tech to remain productive and competitive
It’s easy to become comfortable and complacent with your business software. If it’s not broken, don’t fix it, right? Unfortunately, this approach can leave you eating your competitors’ dust. If you want to compete in today’s digital world, you have to maintain an edge on the technological playing field. Industry leaders are savvy about technology and make wise investments that propel them forward and keep them on the forefront. Regularly assess whether updating your systems could spell increased productivity and keep you in the competitive sphere.
Invest in tech to promote a nimble business model
Agility is the name of the game in business today. How easily can your company shift gears and adapt to new business demands and opportunities? Here’s a litmus test: If COVID-19 forced your teams to switch to remote work, how easy was it to make the switch? Did your company have the tech in place for a seamless transition or was it clunky and stressful, leaving data open to possible security issues? A nimble business model means you can switch gears easily and can continue to operate efficiently in a competitive, ever-changing business landscape.
Invest in tech to protect your secure data
Perform regular risk analyses. Identify areas that are vulnerable to security breaches and invest in tech to beef them up. This might mean password protection or security that adds a layer of protection to voice, email or text conversations. Or perhaps, in light of the COVID pandemic, your teams are working remotely. Make sure you have security in place for video conferencing and security that protects remotely-accessed company data.
Some important questions to ask before investing in technology:
- Is this technology in line with our company’s objectives?
- What metrics are in place so we know this investment will grow the business?
- Does this technology augment current technology?
- Will this technology help our company keep the leading edge in our industry?
Imagine IT can assess your technology environment and customize IT solutions to help your business remain safe, nimble, productive and competitive. If you’re interested in learning more about what we can do for your business, contact us at 952-905-3700. Let us expand the circle of happ(i)ness into your world!