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Technology and Your Growth Plan

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How New Technology Can Help Your Business Thrive

We all know the importance of having a ‘plan’ when it comes to effectively managing your business’ growth. Understanding your long-term vision and what you want your business to achieve is critical. Having the right plans, policies, systems and structures in place is what will move your business to the next level.

So, where does technology fit in?

Technology is completely changing the way the world 'does' business.

It's no longer a question of IF technology can improve your business but to what extent. Whether a small business or corporate giant, technology can catapult your business to the future, through support of strategy, streamlining process to the overarching benefit of business growth and expansion.

In a constantly evolving technological landscape, staying where you are, or following methods which have made you successful in the past, likely won’t work. Technology evolves. Trends evolve too. In order to remain competitive and continue to grow your business, you need to adapt. As UPS eludes, “in order to survive – and thrive – you need to evaluate and adapt tech trends that make sense for your business.”

Investing in new technology can help your business grow.

In Canada, more than 79% of small and medium business owners (SMBs) see technology as critical to business, but how does technology actually contribute to these SMBs and help them be successful?

  • Allowing them to take advantage of new technology, helping them to have a significant web presence and enables them to be ‘found’ using strategic content and SEO.
  • Expanding their digital reach, including across social media and internet search engines.
  • Enabling processes which allow for staff to work remotely or from home (out-of-office work) when ‘life happens’.
  • Ensuring security is a priority, keeping their data (and their clients data) is safe and secure.
  • In many cases, technology can help streamline systems, simplify processes, and save businesses time (and therefore, money).
  • Making it easier for consumers to find and do business with them through either desktop, laptop, tablet, or mobile use.
  • Making smarter business decisions through software management, CRMs, and data monitoring through business intelligence platforms.

Despite this, some are slower to adopt new technology.

The sad reality is that many smaller businessesare slower than their larger counterparts to adopt new technology. It is the perception that larger corporations have the budget and the resources to invest in new technologies, and ‘bite the bullet’ if the new technologies don’t prove to be as effective as they could be. This is in stark contrast to the mentality of many business owners who, while valuing the importance of new tech, believe it to be time consuming and not worth the effort. Research also indicates that they don’t fully understand the benefits new technology can make on their business, both internally and externally. In being more likely to stick to a strategy that’s worked for them in the past, they also often believe that they are less able to absorb the costs should a new technology not work out.

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Technology has business value and contributes directly to your bottom line.

While there are inherent challenges of adopting and implementing new technology, in most cases, the potential reward far outweighs the risk.

CMSWire found that, while some smaller businesses like and see the value in new technology, they just don’t use it

New technology can operate at the very core of a business, enabling it to grow, evolve, and differentiate itself in a competitive landscape. And the great thing? Business growth doesn’t have to come with IT pains, and managed IT planning is the key to successful growth plans.

Not sure if your business’ technology is in-line with your business’ growth plan? Get in touch – We help businesses that are focused on growth evaluate their technology, and we’re here to help.

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Topics: Technology, IT, Growth, SMB