This post is one in a series designed to help SME businesses benchmark their business and create a best practice business improvement plan across all of their business processes. You can find the links to the full series here.
What are the business benefits of implementing technology systems?
Successful businesses use technology to stay ahead of their competition, improve efficiency, drive growth and reduce costs. Any investment in technology requires careful consideration of current business plans and goals. There is no point investing in technology unless you have a clear business case to do so, it makes sense strategically with your business goals, and you can demonstrate a positive ROI.
Great technology systems will allow businesses to:
- improve communication with their clients/customers. Examples of this may be through better CRM or email marketing software
- improve efficiency through a reduction in manual processing of tasks and business automation
- provide better client/customer experiences, increasing brand loyalty and revenue
- undertake more effective sales and marketing programs.
How does your business measure up?
Here’s a checklist to help you determine how well you are managing the effective use of technology systems in your business.
- We have an IT budget that we review yearly. It includes provision for day-to-day support, hardware replacement and investment in new technology
- Before investing in any technology we ask ourselves, “Is this in line with our business strategy?”
- All our technology investment decisions are based on getting a positive ROI
- We have clear examples of where our technology investment has improved team and client/customer communications
- We have clear examples of where our technology investment has improved our efficiency and reduced costs
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