By now, you must have heard about the series of ways in which technology can help your small business; if you haven’t, you can see some here.
But like every tech user, you still cannot wrap your head around the perfect tech gadget to bring into your business environment. Should you invest in AI and simplify your customer service systems? Or perhaps it is in your product delivery system that you need more technical help? Or maybe you can use some tech help with your information storage and document preservation.
With so many tech inventions available on the market today, and almost every one of them promising an exciting benefit, it can get really confusing deciding on which one to invest in at any given time.
To help you out with this, we’ve compiled a list of things you must first consider before you plan to acquire a new technology.
What does your business need?
When it comes to bringing a new technology into a business environment, it is important to first understand what the existing business needs are. And by that, I mean the most pressing needs! Are you an eCommerce business in need of a delivery system? Do you run a business where you always need to keep tabs with customers?
You will need to sit down and highlight those key areas in your business where the current non-adoption of technology is limiting productivity. Once you can make a list of these areas, you will now prioritize and quantify the monetary benefit that will get when you implement those tech changes. While every tech equipment you bring into your business will surely bring a lift in productivity, the monetary benefits that come with each one might be different. And as a business owner, you don’t incur costs to make less profit; instead, you invest to improve your ROI.
So, identifying your business needs, priorities, and monetary benefits that come with the installation of a tech facelift can help you determine the new technological solution to bring into your small business.
Research available technologies
If you won’t be the one to use the new technological adoption, then there is a need to seek the opinion of those employees that will be most affected by it. Even though you’re a small business owner, it is more than likely that your business would have been operating on some technologies before, so what you need now is a facelift. But before you bring in this facelift, it is important to first get the opinions of those that are well-accustomed with the applications of the tech under consideration.
For instance, let’s say you are into the fashion business, and you’d like to adopt some new Fintechs that would affect how you perform your audits, budgeting, cash flow evaluation, expenditures, and lots more. Getting the opinions of those employees in that area of your business can go a long way in determining the tech facelift you get to choose later on.
Also, thanks to their years of experience of working with similar technologies, these members of staff will be able to provide vital suggestions and relevant network on how you can get the new tech.
Assess the scalability
Although every tech you bring in today has the potential to raise your current business level, does it retain the same potentials when your business expands in the nearest future? As much as you want to bring in a new tech into your business fold to improve on the current proceedings, it is important that you consider future business requirements. Is the technology scalable in the future? Can it accommodate future growth and expansion? Or will you have to invest in an upgrade or a new installation when your business gets bigger in the future?
The technical support required
When you adopt a new technology, its implementation requires a lot of technical assistance like staff training, software testing & QA, troubleshooting, and upgrading. For a smooth transition and even after its implementation, you will require a good technical assistance.
What are the different technologies that are there?
Below are a few technologies that are available for a business:
- eCommerce Development Solutions (for online business dealings)
- Enterprise Mobility Solutions (transportation within and outside your enterprise; delivery services inclusive)
- Big Data and Cloud Solutions (for documents, info, and file storage or sharing with other businesses)
- Frontend Development Solutions
- Microsoft Solutions (for your office works, presentations, documentation, and lots more)