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Why is investing in technology essential for your business?

With the advent of digital transformation and the emergence of industry 4.0, companies of all sizes and segments need to look for ways to modernize their businesses to remain competitive in the market. In this sense, it is necessary to invest in technology.

The practice is capable of generating a series of benefits for a company. Currently, adopting IT solutions is a strategic factor that makes the company able to gain operational performance, optimize internal processes and direct its services according to market demands.

In addition, it is estimated that, in 2019,  more than US$ 400 billion will be invested in the area of ​​Information Technology  (IT) in companies around the world. Several trends are emerging with this appreciation of the area and showing its potential to transform businesses.

Increase in operational productivity

One of the main result indicators of a company is the operational productivity of its employees and areas — the higher it is, the better its financial and market results will be. Technology can be the factor that drives this value in the business, as it has the power to optimize practices and management in several areas.

Automation solutions can be adopted to automate manual activities, transferring their realization to intelligent systems, which eliminates manual errors and increases production capacity. In the area of ​​production control, for example, instead of having a professional to count stock and materials used in the day, the process can be done by an intelligent system.

The Internet of Things (IoT) is another opportunity to improve operational productivity. Basically, it makes physical targets intelligent, allowing them to perform automatic functions using sensors. For example, an environment that changes its temperature automatically to keep products in conservation or doors that close when detecting strange movements.

Finally, machine learning and artificial intelligence solutions can be used to create production environments that follow smart factory models. Considering the productive models of the future, human participation in them is almost non-existent, since the machines themselves are endowed with intelligence to keep production running, predicting and solving problems, as well as capturing and storing data for management.

Mobility for management

In recent years, the mobility of a company’s internal processes has been directly connected to its ability to meet market demands and remain competitive. This factor allowed businesses to  reduce costs  and manage to keep operational professionals even away from their workplace.

And to achieve this goal, nothing better than investing in cloud computing solutions. It allows access to business resources through the web, increasing the company’s ability to maintain work regimes such as home office without losing performance or operational capacity. In this way, costs will be reduced and professionals will be able to act strategically — regardless of where they are.

Efficiency in strategies

Investment in technology can also play a strategic role for companies that want to improve their  management processes  and define commercial strategies. These benefits can be obtained with the help of technologies such as Big Data.

Aimed at analyzing large amounts of information in real time, Big Data is applicable in various situations in the corporate environment. In  marketing , for example, the business will be able to predict trends and anticipate market movements. Internally, data analysis will give the manager the ability to visualize problems and points that need improvement.

By adopting a management system  — or ERP (Enterprise Resource Planning) — many manual activities are automated and employees stop spending their time on them, such as calculating customer conversions, expenses and taxes, storing documents and contracts , controlling inventory and sales forecast . 

In addition, the decision-making process can be done with data-based intelligence, that is, with lower risks and greater predictability. In this way, the chances of success of the adopted strategies are much greater.

Optimization of monitoring of internal routines

Monitoring corporate processes is crucial for the company to know how to improve its strategies and achieve better results. Through IT solutions, managers can assess different aspects, understand their operational chain and identify the best way to carry out an activity quickly.

The delivery of a product, for example, will be evaluated in all its stages with the help of an  ERP system . This allows logistics professionals to identify how various factors affect delivery times for goods. More economical routes will be tracked easily and the use of tools will always be as little as possible. This contributes to overall industry cost savings.

security enhancement

Another benefit generated by the investment in technology is the intensification of the company’s physical and data security. Remote monitoring options, adoption of sensor systems and access permission validation — fingerprint credentials, security codes, SMS sending, access card, etc. — can ensure that workplaces, even the most remote, are better protected from theft and robbery. 

In addition, cloud solutions for data storage present a great solution to the current risks of the market, in which  it is estimated that up to US$ 8 trillion in cyber crimes will be lost by 2021 worldwide . These environments use the most advanced and efficient protections on the market, eliminating vulnerabilities that compromise important data, such as the business’s customer and supplier base .

Conducting international business and transmitting data virtually are other trends in the globalized market. For this reason, it is recommended to adopt solutions built with blockchain, as they offer the most advanced levels of security and information protection.

Increase in business opportunities

Investing in technology is not just a practice to improve processes. It also allows you to create opportunities and change the way companies deliver to market — creating new products, services, delivery channels, and even business models. 

For this, it is necessary to follow innovation trends and discover opportunities for the company’s core business. Clear examples of this are construction companies offering options with IoT, such as smart homes, distributors that adopt drones to carry out short-distance deliveries, and corporate training organizations that use virtual and augmented reality to create new teaching experiences.

Increase in customer satisfaction

Investing in technology can also improve the customer experience with your business . The adoption of more efficient platforms for communication, such as a website that has chat and 24-hour service, or the development of an e-commerce are some examples of facilities that contribute to your satisfaction .

Technology can also be used to prepare and improve the service offered by your employees. A distance education platform (EAD), for example, allows employees to learn remotely, without having to go to a classroom, and to do it in a personalized way, following their work routine.

In addition, physical sales environments can be modernized. The simple adoption of cash systems is an example. More modern options are available on the market, such as cross and omni channel strategies — where the consumer can, for example, buy through the website and pick up at the store or buy in the store and receive at home.

Cost reduction is another benefit of investing in technology

One of the main challenges for every company is finding ways to reduce business costs and increase profitability. Investment in technology is one of the best strategies for this purpose, since:

  • increases production capacity;
  • reduces manual errors that cause damage;
  • ensures efficiency for business strategies;
  • improves monitoring of internal routines;
  • increases physical and data security;
  • allows the identification of new business opportunities.

In this way, by adopting intelligent machinery for the production line and logistics chain, ERP management systems and new technologies for the development of solutions for the market, the company guarantees an above-average performance for its business.

Gain in competitiveness

Finally, investing in technology is important to gain competitiveness and stay ahead of the competition in the market. When used efficiently, IT solutions have the power to modify processes, increase the efficiency of strategies, create opportunities and ensure a safer environment for internal activities, improving their overall performance.

Today, investment in technology can be a key part for a company to maintain itself with high efficiency and competitiveness, even in times of crisis. Thanks to new market solutions, managers can assess multiple factors to identify how internal processes are influencing their profits and assess the best way to position themselves in the market.

In addition, digital and increasingly technological business models are trending around the world. Thus, those who do not adapt and seek IT as their ally will — most likely — lose their space to the competition.

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