New technology could help to provide your business with the boost it needs. Alternatively, it could be more trouble than it’s worth. Here are just several questions to ask yourself before adopting new business technology to make sure that you make the right decision.
Is it really more efficient?
New tech is often faster, more accurate and more convenient – but this isn’t always the case. If you’re a manufacturing company that’s thinking of upgrading to digital scales, ask yourself are digital scales accurate? As it turns out, they are. However, there are cases where digitizing processes may actually complicate things or lead to a loss of income such as programming robots to answer sensitive calls that may benefit from a human touch.
Can you afford it?
New tech is often expensive to adopt. Consider whether you have the funds to afford it. Certain tech may save you money in the long run or even lead to more sales – as a result you should also assess the ROI.
Will you get enough use out of it?
There might not be any use adopting new technology if you’re rarely going to use it. Upgrading to a new printer may not be beneficial if you only seldomly print off documents. The most worthwhile technologies to upgrade are those that you use every day.
Are other companies using it?
It’s worth checking if companies similar to yours are using the same technology. If not, it’s possible you may be ahead of the curve, however it’s also possible the technology may not be necessary. It’s particularly worth checking which brands other companies are using. While many other companies may be using accounting software, you should be wary of adopting an accounting program that practically no-one else is using (it may not be as reputable or as suited to your business).
Is it scalable?
It’s important that as your business grows, the technology also grows. Software that is only suitable for a startup will likely need to be replaced if you start to expand. Having to migrate to new software could be a hassle – it’s much better to have the choice to stick to the same technology.
Are there security concerns?
Any gadget or program that can be connected to the internet has the potential to be hacked. Some machines and programs will have a better security rating than others. Make sure that you’ve researched into this beforehand and determine whether you need to adopt new cybersecurity practices.
Does it integrate well with other technology?
It’s useful having technology that integrates with existing technology. For instance, being able to link up your ecommerce site with marketing software and accounting software could make it much easier to cross-reference and transfer information. If software is available as an app, it could also be worth checking if it’s available on your phone (some apps are only available for Apple or Android). Finding out this information may require talking to an sales rep at the company if you’re trying to integrate niche software.