Feb
19
By admin|February 19, 2013|Category: Business Growth

In order to compete and gain an edge for your company, incorporating technology is imperative in today’s business world. Instead of blindly adopting technology trends into your practice, it is important to consider how they can transform your organization internally and externally, and assist in your business growth over time.

Each company has a different operating environment and unique circumstances. The business owner should have a clear understanding of the specific goals he or she hopes to accomplish before buying into the idea.

Technology typically helps businesses focus on improving productivity and increase customer communication and satisfaction. Choose the technologies according to what can free up resources (human and otherwise) so you can grow and be more effective.

Generally, there are four technologies one can adopt:

Having a mobile workforce that can collaborate from anywhere
More and more companies, especially those in the professional services industry, choose to have a virtual office and collaborate wirelessly. This has streamlined their overhead costs and empowered their employees with freedom and autonomy.

Utilizing cloud technologies to transform business processes so as to be more efficient
Tools such as Dropbox and Salesforce make data sharing much easier. They have also enabled employees to collaborate and create.

Using social media to communicate with business stakeholders (employees, customers and business partners) to generate ideas for new products and service
For some businesses, social media is also a great way to promote customers, for others, it is merely an additional tool to communicate and build credibility. It is important to observe all etiquettes and be brand consistent with your online presence.

Leveraging analytics to derive value from data
Tracking becomes more possible and businesses are able to make better decisions based on hard facts. ‘Data is money’ is what I always tell my clients.

Finally, companies need to consider how they can measure and sustain the use of technology so the entire organization can commit to the changes and gain from the long-term benefits of working innovatively.

Sandy Huang is the principal of Pinpoint Tactics Business Consulting in Vancouver, BC. She strives to empower small business owners by equipping them with the tools they need to be more competitive and profitable. Sandy also teaches business courses, conducts workshops, writes for the Vancouver Observer and sits on the board of Burnaby Counselling Group.
 

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