When it comes to running a business in our increasingly fast-paced digital environment, every competitive advantage is necessary. This is especially true when it comes to ensuring that your technical tools function properly.
From small local businesses to giant corporations, properly functioning technology has moved from a luxury to a business essential. If you’re not giving your employees the tools necessary to perform their daily tasks efficiently, you are failing them and your company as a whole.
In today’s blog, let’s take a look at how information technology can give your business the edge it needs to compete in the always-evolving, rapidly changing digital business landscape.
Other Companies Are Investing Heavily In Their Technology
According to Statista, direct investments in technology and digital transformation is expected to top a total of $7.8 trillion worldwide. CIOs and IT consultants are heavily in-demand, with digital transformation and cybersecurity taking “first and second spot with 56 and 50 percent respectively, proving to be the most important initiatives.”
Small business or not, your organization is part of a global economy that has its sights focused squarely on digital transformation. However, this transformation isn’t always smooth as many businesses struggle to keep up with technology’s rapid innovation.
However, They May Not Capitalize On Spending
A separate Statista global digital transformation study found that 62% of respondents reported that their “organizations’ digital transformation initiatives lost momentum at some point during the process.” 38% of respondents reported that “digital progress in their companies has stalled during scaling.”
So, what can we gather from these stats? Well, it certainly seems like organizations around the world are committed to spending on their digital transformation initiatives, but are having trouble following through and capitalizing on them.
The Pandemic Has Accelerated Digital Transformation
The current worldwide health situation has changed the business game forever. While the pandemic is thankfully starting to fizzle out, the technological impact has been tremendous, having long-term implications that are sure to be felt for years to come.
Businesses have sharply refocused on increasing their digital efficiency in the pandemic’s wake. 62% of worldwide businesses report prioritizing increased digital operational efficiency, with 56% focusing on transforming current existing business processes.
Can High-Quality IT Support Give You A Competitive Edge?
The above-mentioned stats and studies paint a picture of a digital-first world. In this cyber age, companies are striving to become more technologically efficient on a daily basis.
For example, in 2019, MSNBC reported that in 2019, “small businesses that use mobile apps to help manage their operations are saving more than 370 million of their own hours and over 725 million employee hours annually.”
That’s 725 million employee hours per year! And, that’s before the pandemic sped up digital transformation. The simple act of implementing and utilizing business-ready mobile apps for operational management caused tremendous productivity gains.
With technological transformation spending at an all-time high without matching follow-through, technology leaders, CIOs, and outsourced IT consultants have become business all-stars. The proper technological leadership can help your company migrate to cloud services, place tight cybersecurity protections, and perform essential computer support, ensuring that your business is running smoothly, beyond expectations.
On-site or outsource IT professionals can also monitor your technology spending, advising you and your team on what hardware, software, and other technical tools are necessary towards increasing overall productivity (vs. what’s a waste of your company’s budget).
Give your business the best chance to compete in a digital-first global market.
Categorised in: Business Management, Business Transformation, Digital Age, Innovation, Transformation