8 Reasons Every Company Is Now a Technology Company

Technology has become an indispensable part of modern business operations, regardless of the industry.

Whether you’re selling shoes or running an accounting firm, technology is a critical component for success. Today’s companies not only sell goods and services, but also need to master various digital tools to thrive in a competitive market.

In fact, 98% of surveyed organizations estimate that just one hour of IT downtime costs them more than £100,000, highlighting the reliance on technology for business continuity and profitability

Customers now expect an excellent digital experience, from seamless online shopping to efficient customer service.

1. Technology Is a Critical Part of Business

For many companies, their software and databases filled with critical information are indispensable for operations.

The impact of IT downtime can be devastating, as exemplified by the recent ransomware attacks on global meat producer JBS and Colonial pipeline, which forced them to halt operations and pay ransoms to attackers to resume business.

Without the ubiquitous use of technology in our daily lives, many companies would struggle to function and may even face closure.

2. Customers Expect an Excellent Digital Experience

In today’s digital world, a single negative experience with a company can easily prompt customers to look elsewhere for alternatives.

This is especially evident in various online interactions, such as navigating websites, checkout experiences, appointment scheduling, shipping notifications, online chat support, response time from customer support, and the ability to contact a company via social media.

To meet the evolving consumer expectations in 2023 and beyond, it is crucial for businesses to leverage technology across their website, payment processes, and other digital touchpoints, in order to deliver a seamless and positive customer experience.

3. Employees Need Devices to Drive Productivity

In today’s modern workplace, it’s hard to imagine how employees can maintain productivity without the use of computers, tablets, or mobile devices.

These devices play a vital role in keeping staff connected to each other and to critical customer data. They facilitate communication and enable efficient workflow, making them essential tools for getting work done in offices.

When these devices do not function optimally, it can significantly impact business productivity and efficiency.

4. AI & Automation Help Companies Stay Competitive

AI can personalize consumer shopping experiences, while automation can empower sales teams to close more deals and significantly improve conversion rates.

To remain competitive in today’s business landscape, companies must proactively integrate technology tools that leverage AI and automation capabilities.

This entails understanding the optimal ways to use these tools and seamlessly integrating them with existing solutions to maximize their benefits.

5. Information Is Being Generated at a Rapid Pace

Companies generate a staggering amount of digital information on a daily basis. The thought of going back to managing paper files is daunting, as it would require a separate building just to house all the filing cabinets.

Nowadays, files, documents, and customer records are largely stored in digital formats. Effectively managing and making this vast amount of information searchable necessitates proficiency in technology skills.

6. Vendors/Suppliers Are Leaving Legacy Systems Behind

Consider the vendors you rely on to operate your business. Can you imagine interacting with them solely offline, without any email or digital documents? In most cases, the answer is likely “No.” These companies, just like yours, are also “technology companies” in today’s digital era. They are likely transitioning away from outdated legacy systems such as fax machines and paper documents. Therefore, digital means of interaction are essential to effectively engage with them.

7. It’s Difficult to Grow Without Tech Innovation

The advent of cloud computing has particularly leveled the playing field for small businesses. It enables smaller companies to access and leverage advanced technology at a more affordable cost, empowering them to compete with larger counterparts.

To sustain business growth, the strategic use of digital tools is imperative. This entails regularly reviewing and optimizing technology infrastructure, while also keeping an eye on upcoming innovations on the horizon.

8. Business Continuity Needs

Business continuity involves ensuring that your company can continue to operate despite any crisis events that may arise. A single natural disaster, for instance, could severely impact a building and its contents. However, by storing your data in the cloud and utilizing cloud software, your business can still function even in such circumstances.

Companies that do not have backup systems in place are exposed to considerable risks. Technology solutions provide the ability to operate from anywhere, thereby enhancing business resiliency and minimizing disruptions.

Have you mapped out your innovation roadmap?

Leveraging technology securely and to its full potential can be a demanding task. Contact us today, and let us help alleviate that burden for you.

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