Technology isn’t always the evolutionary benefit that it’s cracked up to be…
If you are a SME or large business owner that wants to implement new technology across their company – listen up! It’s no longer feasible to simply change your mind on a software system and expect the whole office to get behind it, overnight. Things in the business/tech world have gotten far too complicated for that…
The truth is that implementing sweeping tech changes overnight has the potential to break your business. The wrong software or hardware at the wrong time, and you could end up going under.
Don’t believe us? Here are three ways you could go out of business with bad technology decisions (and what you can do to prevent them).
3 Ways Technology can Bankrupt a Business
(And how to stop it happening to you)
Tech isn’t always the privilege it’s supposed to be. Here are the top three ways it can bash up your business.
1 – Lack of Training
The primary reason an overnight rollout of a new software system won’t work, is to do with your staff training policies. If your staff aren’t primed to use a new system, then you could see issues with their ability to facilitate tech improvements in a timely manner.
The fix for this is to give staff training in advance. There are plenty of staff training schemes out there, but we favour Hays Learning because of their focus on staff well-being.
2 – Hardware/Software Mismatch
You could have the fanciest new computing systems on the market running out of your office. You could also have windows XP and an internet connection made for residential use.
If your software and hardware don’t match up to one another, there’s a high chance you could lose out on any benefits that might otherwise have made office life easier.
The fix for this one is to get yourself an IT team that know what they are talking about. You can hire one as a consultant if you are a small business. It will be worth it in the long run.
3 – The Crucial Overspend
Third and finally, the best way to bankrupt your business over new technology is to spend a fortune on ‘the next big thing’ in the technological world. As a rule, don’t buy any gigantic new tech that will make your job easier until it has been out on the market for a year or more. This way they have worked out the bugs and you get a system that has been tried and tested over time.
Another fix for this is to give yourself a maximum spend limit for tech for the year. This will keep you checking you aren’t spending too much on any one computer system.
Finally, don’t go sinking company finances into tech sponsorships that aren’t directly related to your line of work. If you don’t spend it, you won’t go bust. If you must spend it, get a qualified consultant to tell you if it’s a good idea or not before you invest.