Is your business well-equipped for the changes in technology that are taking place? Do you have a vision of what your company will be like in five to 10 years? We put together 5 elements of effective tech acceleration to help you navigate the technology changes of today and provide direction for the future.
Technology is always changing, and the landscape shifts accordingly. To stay competitive, organizations must keep pace with changes in their industries and among customers. This is where a tech accelerator can help.
We define tech acceleration as making improvements to technology that will make an organization more efficient, productive, and competitive in the future.
A few reasons why keeping up with evolving technologies is critical include:
- Integrating your organizations tools saves time and effort while increasing overall efficiency.
- You can boost productivity by improving the employee experience with streamlined technology and processes.
- It is possible to improve security by removing obsolete technologies that no longer receive critical security upgrades.
Before introducing new technologies or products into your operation, you should consider several factors to ensure that the investment pays off.
5 Elements of Effective Tech Acceleration
- Think Long Term. Pandemic restrictions have spurred the adoption of technology at a breakneck pace. Many organizations have been able to avoid major disruptions by making fast choices and implementing remote-working and other collaborative solutions. However, it’s become clear that the constant change experienced in recent years is not always beneficial to a company’s long-term success.While these technology upgrades helped SMBs stay in business during the chaos of 2020, they also resulted in several hiccups that ranged from integration challenges to limited long-term value. That’s why the time is ripe to prepare for the future by adopting smart tech acceleration. This requires a thorough examination and assessment to evaluate whether your present systems are advanced and integrated enough to support your business objectives over the next five to 10 years and not just the present.
- Evaluate Previous Technology Investments. Examine your tech acceleration investments from the previous year (if you have any) and identify where improvements are needed. It’s crucial to consider whether past investments have contributed to the achievement of your long-term goals. Only then will you be able to determine if your acceleration is on the right track.
- Benchmark Other Firms. What is the status of your tech acceleration environment? If your expectations aren’t being met, find out what other firms do differently to achieve better results. Consider making changes to improve your organization’s performance so that it corresponds more closely with the vision you have set for it. The metrics of a tech acceleration initiative should take into account how well it’s achieved levels of cybersecurity, customer experience, and employee experience.
- Consider the Total Experience. The total experience can be defined as a combination of customer and employee experiences. By breaking down silos and integrating technology with the employees, customers, and users, total experience improves the overall experience. It focuses on addressing customer/employee needs to produce better long-term and meaningful business outcomes. Experts estimate that by 2026, 60% of large enterprises will use total experience (TX) to transform their business models to achieve world-class customer and employee advocacy levels.
- Integrate Solutions. Outstanding solutions that are not integrated into your company’s systems or infrastructure will be difficult to maintain over time and may hinder efforts toward expansion.
By systematically incorporating a company’s customer and employee experiences, companies can reduce error rates as well as increase efficiency and automation.
If your organization doesn’t invest in smart tech acceleration, your competition could overtake you in the market. It’s time to stop relying on short-term fixes that aren’t helping you achieve your goals and find ways of upgrading your IT ecosystem so you can be more productive for the long term.
As always, we’re here to help you understand how to improve your business and navigate the ever-changing landscape of technology.