Whether you own a plumbing business or run an accounting firm, you need technology to keep your business afloat. Today, companies are not just about selling their products or services. They also need to master various types of digital tools, such as software, payment systems, computers, Wi-Fi networks, and mobile devices. Without these, your business can take a serious hit.
In fact, according to a survey, just one hour of IT downtime can cost more than $100,000. This means that every company, no matter what industry they're in, is now a technology company.
So why is technology such a critical part of business? Let's take a closer look:
1. Technology Is a Critical Part of Business
Even farmers are using tech these days to check commodity prices, sell livestock, and manage their books. Most companies couldn't operate without their software or databases filled with important information. IT downtime can be devastating, as evidenced by the ransomware attacks on JBS and Colonial Pipeline, which resulted in halting operations.
2. Customers Expect an Excellent Digital Experience
In today's world, customer experience is everything. In fact, a survey found that nearly 46% of respondents said it was their top priority for the next five years. If customers have a bad experience with your company, they're likely to go elsewhere. From navigating your website to checkout, appointment scheduling, shipping notifications, online chat, response time, and social media, customers expect a smooth digital flow.
3. Employees Need Devices to Drive Productivity
Employees need devices to stay connected to each other and your customer data. They use these devices to communicate, collaborate, and get work done. If these devices don't work well, business productivity suffers.
<h3>4. AI & Automation Help Companies Stay Competitive</h3>
AI and automation can help organizations move faster and stay competitive. By personalizing consumer shopping experiences and automating sales, companies can improve their conversion rates and close more deals.
5. Information Is Being Generated at a Rapid Pace
Companies generate a ton of information digitally, which is why keeping track of all that information and making it searchable requires technology skills.
6. Vendors/Suppliers Are Leaving Legacy Systems Behind
Most vendors and suppliers are leaving behind legacy systems like fax machines and paper documents. This means you need to use digital means to interact with them.
7. It’s Difficult to Grow Without Tech Innovation
Computers and technology have increased our productivity exponentially. The cloud has leveled the playing field for small businesses, allowing them to do more affordably. Reviewing your technology infrastructure and looking at innovations on the horizon are crucial to growing your business.
8. Business Continuity Needs
Business continuity is about keeping your company running despite any crisis events. Tech solutions can create the ability to continue operating from anywhere, increasing business resiliency.
What Does Your Innovation Roadmap Look Like?
Using technology securely and to its fullest potential can be a full-time job. Let us take that burden off your shoulders. Give us a call today, and let's discuss how we can help you create a solid technology foundation for your business.