Technology is something that empowers you by increasing your efficiency and decreasing your laborious work. It gives a competitive advantage especially to a small business that would need a lot of resources to survive in the tough market scenarios.
A small business needs to have a well-designed system to ensure it could bear the jerks of the market which otherwise can be a huge setback. Investing in a new technology can be a big step for any small firm. The process can be long and can dig a huge hole in your pocket. Also, there are so many technologies available and it could be really difficult to figure out the one that would be the best for you.
To help you out with this, we have made a list of things that you must consider before you plan to acquire new technology:
Evaluate Your Business Needs
Sometimes, it can be hard to underline the difficulties faced by non-adoption of new technologies. This is because you are too much accustomed to the existing technology that you don’t think of the scope of improvement in it. You must consider listing down the different technologies that you currently use to run your business and assess which are the ones that need a major upgrade. Below are the areas which usually need technological improvements:
- Order taking and tracking
- Database management
- Accounting and Financing
- Human resource management
- Communication (internal and with customer)
Barriers and Advantages of Adopting New Technology Solutions
While most businessmen think that adopting new technology is a better investment than hiring a new employee (72% to be precise), they are still overwhelmed by the sheer number of technological solutions available to them.
Challenges to Technology Adoption
1. Budgetary Restrictions
All decisions in a business are taken by keeping in mind how much money is available. A company should consider the total cost of up gradation along with the cost of maintenance and support while adopting a new technology.
2. Unavailability of Technical Support
Some technologies require workforce to be tech-savvy. This makes its adoption among the workforce, especially the elderly, to be very difficult. These people require a technical support unless they learn how to use it. This support might not be available to them all the time.
3. Workplace Disruption
There are many business owners who feel that any drastic change in the existing process might face resistance from the employees. This might bring the productivity down and turn out to be a bad investment.
Benefits of Technology Adoption
1. Increased productivity
As a fundamental rule, a new technology will save the time of the employees. It will automate and simplify processes which will reduce the effort and at the same time increase the efficiency of the process. This helps you get more output per employee.
2. Greater Scalability
When you use an advanced technology and get more produce for the same resources, you can easily look out for newer market and scale up your business.
3. Understand the new trends
When you adopt a new technology you also get to know what new trends are there in your niche market. This is because the technology providing company closely follows the new trends in the businesses and does a proper research before developing the technology.
Some Tips to Choosing the Best Software Technology Solutions
1. Determine your business needs
When you list down the key areas that require a technological facelift, it is important to prioritize and quantify the monitory benefit that you will get when you implement those changes. Make sure you list down the requirements from all the departments.
2. Research available technologies
Before going for an online research, go to the employees and managers who will be the most affected by the new technology. Ask them their expectations and let them come up with new ideas. Also, they must be in contact with some relevant network which can provide vital suggestions and feedbacks.
3. Assess the scalability
You must consider if the new technology is scalable and can accommodate your future business requirements. Make sure that it can integrate with the existing and upcoming technologies. The system is expected to be cloud-based for enhanced flexibility and scalability.
4. Good technical support
When you adopt a new technology, its implementation requires a lot of technical assistance like staff training, software testing and QA, troubleshooting and upgrades. For a smooth transition and even after its implementation, you will require a good technical assistance.
What are the different technologies that one can use?
Below are a few technologies that are available for an enterprise:
- eCommerce Development Solutions
- Enterprise Mobility Solutions
- Big Data and Cloud Solutions
- IOT Solutions
- Software Development Solutions
- Microsoft Solutions
- Frontend Development Solutions
Nowadays, these solutions are integrated with mobility solutions as well to ensure the information is transferred to the concerned employee effectively. This further enhances its usability and thereby, its applicability.
Make an Alternate Plan too
Hope for the best and prepare for the worst! What if the technology fails? It isn’t completely out of question, is it? Hence, you must devise a contingency plan for such circumstances too. Gather information about your recovery plan and make sure this information is well-carved and is available at the time of a disruption.
These plans should include a contingency plan for failures in power supply, hardware and cloud storage.
Things You Can Do Today
- Ask your workers to come up with a list of their biggest pain points i.e. places where they need automation and experience inefficiency.
- Research the apps that are already available in the marketplace and note down the features each one of them provides.
- Consider the reviews and feedbacks given to it by the users
Don’t forget the training
Training and the aspects of training like its costs, required time and downtime caused due to training must be calculated properly. Training is essential since the whole investment will go to waste if your workers don’t understand or practice using the solution.
i-Verve has made various software solutions, one of the most popular ones is MyUrbanSky which is a smart building solution for a real estate company. It is used to help the company in managing all its activities with owners, contractors, suppliers and service provider agents.