Is Your Perception of Technology Holding Your Business Back?

Technology Perceptions
Is your perception of technology preventing your business from getting ahead? Do you think of technology as a strategic asset that sets your business apart? Or do you consider technology to be something you should spend the bare minimum to procure? Technology allows small businesses to compete with larger corporations and adapt to new market challenges. Businesses that avoid making the necessary investments in their technology often fall behind. So ask yourself, is your perception of technology holding your business back?

Have you ever avoided improvements and upgrades to technology in order to reduce costs?

You get what you pay for, right? There are many reasons to invest in your office technology. Eventually every business will need to upgrade an outdated IT infrastructure. Even if your infrastructure is still current, you may find that you need to increase the functionality of your solutions to meet the demands of your business. Additionally, as hackers adapt to increased security efforts, it’s important to continue adapting your technology to keep your network secure. When your team grows, you need to grow your work tools to ensure they have the tools they need to get their jobs done. Unfortunately, you don’t save money in the long run when you hobble your business by pinching pennies at the expense of technology. In fact, digital-first companies are more likely to achieve their business goals than their peers, according to Adobe. What are your business goals, and is insufficient technology preventing you from achieving them?

Have you outsourced certain aspects of your technology?

Many businesses have a DIY spirit. It’s great to use your internal skills and expertise to get things done in your office, but sometimes you have to admit when you’re out of your depth. Have you ever heard the term “penny smart, dollar foolish”? You may save a couple hundred dollars performing tasks in-house, but what does it really cost you when you consider labor costs? The fact is, when you handle everything yourself, your employees are being distracted from the objectives that generate revenue for your business. You should consider areas where outsourcing technology or services makes sense, such as IT Services, Document Management, Printer Management, and Network Security. According to a report by Salesforce, small business owners personally take on an average of 4.2 roles to keep their businesses running. It’s smart to let the experts handle those areas of your business so you can focus on the bigger picture.

Do you look toward technology as a way to establish or increase efficiency?

It’s easy to get caught up in the day-to-day grind and forget to prioritize efficiency. Rest assured, the time and expense you put into improving efficiency in your business is more than worth it. Whether implementing automations that can reduce time spent performing manual tasks, or implementing a unified communications system to facilitate more streamlined communication, making an investment in technology will only improve your business. With the right technology in place, you can cut down on the time it takes to complete tasks, save money, and improve employee morale and customer satisfaction. According to a study by Deloitte, 45% of companies that reported a positive impact from digital transformation also reported higher net revenue growth. We don’t have to tell you that efficiency and revenue are inextricably linked. If you look at improvements in technology as a distraction, or you find yourself avoiding it, you should seriously reconsider.

Have you leveraged document management tools?

A huge piece of the efficiency puzzle is having a good solution for document management. At this point in time, there’s no reason your employees should still be managing their own documents through a combination of their own file folders, email applications, and shared company drives. Not only does it make documents and information difficult to find, it makes collaboration between employees nearly impossible, and a pain to access documents on-the-go. Everyone in your organization should be empowered with the ability to quickly search for, and retrieve the documents they need.
The right solution will allow you to automate workflows, enable remote workers to access necessary information, and meet compliance requirements. According to a study by M-Files, 88% of office workers cited the need for a dependable, unified search platform in order to better do their jobs. 83% of employees admit to having to recreate existing documents because they can’t find them. Document management can have an incredible effect on productivity throughout your organization, but can particularly help your HR and Accounts Payable staff breeze through their tasks. If you’re more motivated by dollars and cents, consider the fact that companies spend an average of $20 to file and store a single document, and replacing lost documents costs an average of $120 per document.

Do you have a technology plan in place that is guiding your decisions for future investments?

If you don’t have a plan in place, time will fly by before you notice that your technology infrastructure is outdated and not serving your business. If you believe that technology is an asset that gives your business a competitive edge, you need to come up with a plan for updating and implementing technology in the future. Did you know that 59% of IT personnel believe using outdated technology has a negative effect on employee morale? It’s an excellent idea to form a committee within your office to periodically review your organization’s technology and make recommendations for updates and improvements.
There’s no reason your business shouldn’t have an arsenal of time and money-saving technology at its fingertips. Yes, technology is an investment, but you’ll see the benefits of that investment almost immediately. Let Les Olson Company help you find the right combination of solutions to help you meet your objectives and improve every facet of your operations.

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