Technology usage
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Successful businesses use technology to stay ahead of their competition, improve efficiency, drive growth and reduce costs.
Great technology systems will allow businesses to:
- Improve communication with their clients/customers. Examples of this may be through better CRM or email marketing software.
- Improve efficiency through a reduction in manual processing of tasks and business automation.
- Provide better client/customer experiences, increasing brand loyalty and revenue.
- Undertake more effective sales and marketing programs.
For example software applications make business easier to the point that nowadays most businesses wouldn’t be able to operate without their applications.
Most businesses run at least three different software applications to manage their daily operations. These might include finance, CRM, inventory or marketing. Integrating these software applications maximises efficiency and reduces cost.
Any investment in technology requires careful consideration of current business plans and goals. There is no point investing in technology unless you have a clear business case to do so, it makes sense strategically with your business goals, and you can demonstrate a positive ROI.
1. We have an IT budget which includes provision for day-to-day support, hardware replacement and investment in new technology
Why is this item important?
Part of keeping your business going, and growing, is having an up-to-date business plan so you know where you’re heading. You also need to ensure that your team has the tools they need to succeed; and that means investing in technology and systems that support their day-to-day activities.
Investing in the right technologies can make the world of difference to time management and profits. The benefits of investing in digital technologies within your business include:
- time savings, through process automation and improved productivity
- better market access and client engagement
- access to a wider pool of talent
- flexibility and mobility
- enhanced and safeguarded business value.
How can I tell if I meet this item in my business?
- You have a dedicated budget for IT expenses that aligns to your business plan.
- You have a documented replacement schedule for aging hardware.
- You have a dedicated IT support person on staff, or an external IT support partner.
What do I need to do to meet this item?
Complete an audit of all your business technology and create a comprehensive asset register. Collect and analyse all records relating to tech-based expenses. Broad categories you should look at when drafting your budget include:
- Staff or consultancy costs – for internal or external IT support staff
- Hardware – all equipment and devices, plus replacement and repair costs
- Software – one-off purchases and recurring license fees
- Administrative costs – internet and phone bills, consumables like ink or USB sticks, etc.
- IT services and support – security, web hosting, backup services, etc.
2. We ensure that all our technology investment decisions are based on providing a positive return on investment and improving capacity to achieve business goals.
Why is this item important?
Technology can be expensive; and change can be difficult to implement. Before committing time and money to any new business technology, you need to be sure you understand exactly how it’s going to help you achieve your business goals.
If you fail to do this, you could well find that you’ve just spent a small fortune on a system that’s not fit for purpose; or signed up to a lengthy contract for a service you can’t convince your staff to use.
How can I tell if I meet this item in my business?
- You have a clear vision for what the new technology will help your business achieve; and you can communicate this easily to others.
- You have defined criteria for what successful implementation of the new technology will look like.
- You plan to evaluate the success or failure of the new technology so that you can make improvements if necessary.
What do I need to do to meet this item?
Treat your technology changes as projects, with:
- clear objectives
- cost/benefit analysis
- a defined budget
- employee consultation strategies
- implementation planning
- post-implementation evaluation.
3. Our technology systems are integrated for optimal efficiency. We ensure that all new software purchases integrate with our existing packages.
Why is this item important?
Most businesses employ multiple specialised software apps on a daily basis; things like email, accounting and payroll, CRM, and job management … the list goes on.
By integrating apps, you can take advantage of app workflows to automate functions. For example, when you add a new client into your CRM, they could also be added into your accounting software and onto a Mailchimp list that automatically welcomes them on board.
Such integration provides a positive return on investment as you can automate manual processes, improve workflows, and free up staff to perform more meaningful work.
How can I tell if I meet this item in my business?
- You experience minimal overlap and repetition in tasks.
- Problems can be solved or questions answered quickly and efficiently, often with a single click.
What do I need to do to meet this item?
Make a list of where things are going wrong for your business. Roadblocks, inefficiencies, client or team complaints, repeated errors, and gut feelings are all good places to start mapping the areas that might benefit from change.
Online research is invaluable, as is speaking to your business network about how they are using technology and online tools. Your IT support provider will also have seen how technology has been adopted or adapted to make business better – as well as the times it may have failed – and should be able to provide invaluable advice on successful app integrations.
4. We regularly review all aspects of our technology to ensure that it is delivering tangible benefits and look for opportunities for improvement.
Why is this item important?
A healthy business is an agile organism that responds to market forces. To stay competitive and grow your profits you look for ways to improve performance, reduce costs and inefficiencies, and meet changing client needs.
Regular evaluation of your business technology can help you:
- improve your processes and/or create efficiencies
- reduce costs and/or maximise profits
- mitigate emerging risks
- ensure the integrity of your IT infrastructure.
How can I tell if I meet this item in my business?
You look at digital trends, review new offerings, and keep an eye out for what others in your industry are doing.
You are open to change and welcome suggestions for improvement from staff and clients.
You have a comprehensive register of technology assets, including:
- computers and servers
- network equipment
- personal devices such as tablets and smartphones
- software keys and license expiries
- cloud storage and apps
- phone system
- printers and scanners.
You dedicate time in your work schedule to undertake a formal business technology review; or engage an external consultant to perform one.
What do I need to do to meet this item?
Technology is a major asset to your business. It requires a substantial investment; but it also provides a return on that investment by facilitating almost every aspect of your daily work.
At least once a year, review all aspects of technology in use across all areas of your business. Assess the technology to ensure that it is delivering tangible benefits and to look for opportunities for improvement, and ways that new technology may be able to help improve communications, provide efficiencies, and reduce costs.