Digital First Approach for SME's
Welcome to Techolony. This week, we take a look at the importance of taking a digital first approach with your business, regardless of sector.
It is widely recognised that small to medium sized organisations (SME's) need to improve their agility, and become both leaner and bolder in this highly competitive era. There have never been more small organisations vying for the same or similar business, with new ventures appearing in the hundreds almost on a weekly basis. In today’s connected world, getting new business ideas off of the ground and generating a “new” sector for your unique solution is very competitive. But, that isn’t necessarily a bad thing. As we know, competition spawns the need to try harder, to develop better solutions for the end user and to innovate as much as possible. One of the most crucial ways of ensuring your new business venture has the best chance of success is streamlining your IT, and making sure that you take a digital first approach.
Surprisingly, according to a report by Deloitte at the end of 2019, only one in four small or medium-sized enterprises has invested in modern technologies in recent years. This is clearly a small percentage, especially in in the midst of the global Covid-19 pandemic, which has proven to be the downfall of many businesses who have been unable to adapt quickly enough to a lockdown world. In the report, they advised that approximately 70 percent of SMEs that invested in improving their IT and digital approach reported revenue growth, and they attribute some of this to the effective use of digital tools, all cementing the importance of keeping your IT at the forefront of your business development plans and budget.
Unfortunately, a common practice for new businesses is to channel the majority of funding into equipment, machinery or buildings, leaving very little investment into IT - which can be the foundations of the company in these challenging times.
Frequently, medium sized organisations will have a concern relating to the affordability vs value of having their own IT department - which is a valid reason to reassess operations budgets. However, there are various options available to suit all budgets. You can reduce capital costs of maintaining IT infrastructure by migrating to the cloud or operating hybrid cloud solutions. You can also outsource elements of your IT operations or projects to receive a higher quality service than you can maintain in-house and 'turn on the tap' when needed. Techolony, as an example, offer solutions encompassing 6 key technology areas that are focused towards transitioning medium sized businesses to a more value driven approach to their IT operations.
Another concern often accompanying IT situations, is the rise of associated costs for purchasing and replacing equipment - which can be as basic as improving the internet speed to allow for increased data handling. Implementing IT infrastructure that is suited to you is a crucial factor - it doesn’t have to be expensive to be effective. Fortunately, when you entrust a specialist company like Techolony, you can rest assured that if you request our IT Discovery Assessment, we can find those optimisations, cost savings and operational improvements and then implement them for you… and drive your business forward.
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Techolony specialise in 'defining, designing and delivering' IT change and transformation solutions across financial services, retail and insurance sectors.
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