Over 600 million apps are downloaded worldwide each day. Moore’s law observes that the number of transistors in a dense integrated circuit doubles approximately every two years. With computing moving into nanotechnology, this continues to be true. I recently read that knowledge is doubled at least every year (soon to be measured in hours?). Just a few years ago it was unheard of for a mid-sized manufacturing company to have a terabyte of data. But, now I have a quarter of a terabyte of storage on my iPhone. How do you keep up? How do you keep your business systems up-to-date? How much of your competitive advantage is based on this ever changing technology? How much better are you than your competitors? It’s such a blessing to have all this incredible technology and data storage available. What’s hard is sifting through all the noise and settling on what’s right for your business. You want to upgrade, but is your upgraded business system going to result in “Better, Faster & Cheaper”?
Better: You trust your employees to continually improve their skill-sets and processes. Each new release of your business software systems offer new and existing features and technology to make your business and processes better. Are you taking the time to ensure your employees evaluate your processes and available technology together to truly improve? Make sure your new technology does the basics really well, those key areas required by your business to be successful. Careful evaluation of new software capabilities is necessary to keep that competitive advantage.
Faster: Business systems have moved from the computer room to the back pocket. You pull out your phone, tablet or laptop and get an update on sales, production or finance. Faster technology gives you the ability to keep tabs on your KPI’s real-time. Make sure you’re taking advantage of all your data and getting the information you need when you need it. Your new technology or business system needs to be able to process huge amounts of data quickly and efficiently to help you (and your customers) get the information you need fast.
Cheaper: For your customers and your business. How quickly can your team help a customer configure just what they need and get just what they want? Businesses that spend the most on technology aren’t always the best performers. Businesses that work hard on constantly improving people, processes and technology together are the most efficient. Cheaper isn’t possible without the right investments. Take the time to ensure you are getting your best return on those investments.
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