Ensuring that day-to-day operations run smoothly can be hard, especially within small firms where resources are limited. This is why new technology is important, because they offer progressive firms an opportunity to accomplish more with less.
But what exactly does “transformation” mean in terms of business impact?
That’s what this blog is about. In this blog we will explain what benefits a company can expect from a truly transformative experience with new technology.
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The nature of technology is such that it impacts everything at the business - employees, work culture, various departments (sales, marketing, HR, accounting, manufacturing), and so on. Without clearly defined goals, established performance indicators and aligning the technology with existing work culture, organizations struggle to arrive at their ROI on technology.
Here are 5 challenges that organizations face when calculating ROI on technology:
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There are two ways to try to improve any aspect of a business, whether it’s about sales, marketing, operations, finances or management. The amateur way is to act ad-hoc and reactively. This leads to random sets of usually disconnected improvements and very limited return on investment of both money and time.
The proficient way is to plan and act proactively. This leads to a development plan usually with connected initiatives set for effective execution and leads to dramatic improvements.
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