As a small business one of your main priorities is staying ahead of your competitions or at least keeping up with them.
One of the best ways to do this is by investing in the right technology for your business. I am firm believer that excellent customer service gives you the best competitive advantage in any business. Investing in the right technology is a close second.
Technology Gives You Better ROI.
72% of respondents to the Fifth Annual Brother Small Business Survey indicated new technology is a better return on investment than new employees. When you compare the cost (Training, Salary & Benefits) of new employees against investing in your small business specific software/technology; you realize how much money you save. Your industry specific technology also makes your current employees more efficient and productive. This also cuts your cost which gets passed on to your customers.
Invest In The Right Technology.
You have to make sure you invest in the right technology for your business and market. You might be hesitant to invest in Technology because you don’t know what product to invest in or when to make the investment.
There are three main factors to consider when choosing the right technology for your small business.
1) Will it make my employees more Productive and Efficient?
2) Will it improve my customer service and customer experience?
3) Is it secure, will my business and customer data remain secure?
A simple example is an orthopedic surgeon that does not have an in-house X-Ray machine. He/She sends his patients to other clinics to get the x-ray done. The x-ray images are saved to disc and given to the patient.
Investing in an in-house x-ray machines satisfies the three factors above:
1) Employees no longer have to rely on patients to get the x-ray done and bring it along.
2) Patients’ don’t have to drive to another facility to get the x-ray done.
3) Patients’ information is safe from loss or theft.
It is also very important to have a technology partner that will help in deciding which technology to invest in and when. An ideal partner will help in the decision, integration and support of such technology