Knowledge Base

Stronger communication and collaboration

Social feeds, chatbots, and emails give you plenty of ways to speak to customers directly. So, no more posted invoices, outsourced call centres and delays in responding. What’s more, tools like Zoom and Microsoft Teams allow staff to work from pretty much anywhere.

Boosting efficiencies

Stock management, order processing, and basic accounting can now be automated to remove the risk of human error. You can spend less time going through complex records and more hours growing your business.

Potential for cost savings

Hi-tech manufacturing processes can cut waste across your company. Meanwhile, video conferences and high-speed internet services could reduce your spending on travel and office space. AI can also complete repetitive or low-level tasks, freeing up workers’ time.

Supporting green ambitions

Renewables and energy-efficiency measures can cut your carbon footprint over time. This should future-proof your operations and bolster your reputation too.

Savvier marketing

From search engine optimisation to email and influencer marketing, there are lots of opportunities to think outside the box.

Enhancing security

Data encryption, anti-virus software, and secure online bank accounts can keep essential information out of the wrong hands. Without them, a data breach could damage your brand.

Lower staff retention

Social networks and job websites have made it easier for staff to spot opportunities elsewhere. This growing transparency could increase competition for talented workers. 

On the flipside, using technology for business automation might make certain roles redundant, pushing people into unemployment. 

Reduced customer experience

Online stores, chatbots, and social media channels might make your business more accessible and easier to buy from. But you risk losing your personal touch and the advantages of one-to-one contact. Any slip-ups could jeopardise your hard-earned reputation.

Heavy set-up costs

Not all technologies come for free. Investing in the latest software, HR systems, or smartphones could land you with a significant upfront bill. It may take time to recoup those costs too. And some gadgets might prove to be little more than an expensive flash in the pan.

Risk of downtime

Relying too heavily on technology for business processes creates a new threat: downtime. A single faulty IT system or communication tool could bring your operations to a halt, hitting short-term revenues.

Security concerns

Any cracks in your digital defences could be exploited by cyber criminals, with damaging reputational and financial consequences. Training employees on security best-practice is vital but can also prove time-consuming.

Whatever your business goals, any new technologies should serve a useful purpose and avoid disruption. Here are some of the ways you can achieve this.

Take the time to explain new systems and processes to your workforce, with plenty of advance notice. Clearly outlining the rationale for your changes should keep morale up and reduce nervousness.

It may feel tempting to use technology for all your business needs. But signing up for every new piece of kit and software will only complicate your company’s structure and lead to mixed messages. Instead, carefully research each product to ensure it’s a good fit. And always make sure you test their introduction.

Think about your unique needs too. After all, what works in one startup may not be so effective in another.

Purchasing and setting up new technologies is only the beginning. Carefully monitor progress at regular intervals, whether you’re looking to increase efficiencies, reduce costs, or automate basic processes. That way, you can gauge the effectiveness and the overall impact of the technology on your business.

Weigh up the long-term financial benefits of a piece of technology against the short-term cost to get your hands on it. If it’s unlikely to move the dial, your investment may be better used elsewhere. 

You can also keep your budget on track by avoiding the temptation to overspend and keeping a close eye on hidden fees. 

Since technology never stops moving, neither should you. Stay alert to any new innovations which your competitors adopt. And check trade publications and tech websites for useful developments in the pipeline.

Customer service and strong internal structures remain key to a company’s success. Whatever neat tricks new technologies can perform, don’t let them replace the fundamentals.

From overstretching your finances to communication failures, keep an eye out for these common technology pitfalls.

Implementing new technology requires a clear plan of action, repeated testing, and, above all, patience.

Trying to do too much, too soon may set you up for failure and seriously test the goodwill of staff, investors, and customers.

Think about the size of your business and the financial war chest you have available. As a startup, you simply won’t need the same tech capabilities as a well-established multinational. Overstretching your budget will likely cause financial headaches, rather than positive changes. 

Proper training and coaching are required to get employees up to speed with your plans. Any failure to engage with them could create bumps in the road.

Moving online or overhauling your customer service team overnight is unlikely to go down well with loyal clients. Any digital transition should retain a personal touch, so people have different ways to interact with you.

Not every tech investment will have the impact you hope. So, be honest about any mistakes you’ve made – and learn from them. Think about trialling any significant changes first, so you know what’s truly achievable.