If there's a better way, we'll help you find it
Most people recognise the necessity of having a computer, an email address, and a website, but still look at the upfront cost more than other issues.
Like accounting and legal, every business needs to invest in technology to compete, but, if there is no core business benefit to be gained, why do it in the first place?
"YOU CAN'T DO TODAY'S JOB WITH
YESTERDAY'S METHODS AND BE IN BUSINESS
What are the benefits of technology in a business?
Obviously there are a lot of benefits to having Technology in your business but ony if you invest in the correct setup. When it comes to technology it's hard to know where you should spend most of your technology budget.
Should you focus on infrastructure, hosted applications, custom line of-business applications, or what? The answer to this depends a lot on your industry, but even more on your specific business.
The first question any business owner should ask before spending any money or time on technology is "Why am I doing this"?
Just as trying to put a square peg into a round hole is a waste of time, investing in the wrong Information Technology and set up for your business is a waste of money.
Having the right information in front of the right people is crucial if you want to serve today's time-starved customers and still make a profit.
Before spending $$ take a look at your Big picture
Do you fully understand why you have an Information Technology System in your business?
Is your current system or solution too complex?
Dose your current solution meet your needs, or you do spend more time/money working on your solution instead of the solution working for you?
What type of business are you?
Do you feel that your business is currently utilising the correct solution for the size of your business?
If you'd like some assistance answering these questions in your business, Techcellence would be happy to help.
Where should you spend and how much?
There is a fine line between spending too much and not enough. Spend too much on technology, and it will consume your time and budget, leaving you ill prepared to do anything else on your business. Spend too little and you may be left behind by your competition.
You need to implement enough technology to a see a real benefit, prevent the worst disasters, and not miss out on any major opportunities, while not spending more than you can handle.
Technology is a cost not just in dollars, but also in the time you and your employees need to spend adapting to it. Nearly always, small, incremental, ongoing changes are a better way to bring technology into your business, rather than large all-or-nothing systems that promise to do everything straight away.
Established businesses generally spend between 0.5% and 10% of their annual revenue on technology, depending mostely on the industry. Manufacturing and retail are typically on the lower end of the scale while finance and health care are typically on the high end. So, saying this what cost do you need to consider as part of your technology budget? These break down into several categories.