For a lot of businesses, navigating the restrictions introduced to curb the spread of COVID-19 has been about survival more than anything else. During the early days of the pandemic, this typically involved dramatically scaling back funding for departments and processes deemed nonessential and letting go of large numbers of employees.
Digital transformation is one area that many businesses are now less keen on investing in than they were earlier in the year. For many, technological innovations are still viewed as items that are nice to have, not as investments that are critical to the well-being of the business. In reality though, nothing could be further from the truth.
In fact, travel restrictions and stay-at-home orders have underscored the need to innovate. Consumer lifestyles and buying habits have dramatically changed because of the pandemic, which means that what businesses provide customers and how they provide it have also changed. Business operations have also shifted toward permitting remote work, making digital platforms and processes that can support remote work more important than ever.
Here are five reasons why you should be investing in tech now:
1. Become more adaptable to change
It’s safe to say that times were quite uncertain even without COVID-19, thanks to disruptive new technologies making their way into the market and driving dramatic changes in consumer behaviors. And with the pandemic still far from over, every company needs to become adaptable.
Their systems and processes need to scale with often unpredictable shifts in demand without incurring huge costs. Software- and cloud-based solutions make that possible by reducing reliance on things like physical office space, costly hardware, and manual labor.
2. Communicate with remote workers
Technology makes it possible for businesses to create full-featured virtual workspaces that can provide much the same functionality as a conventional office environment. Things like virtual desktops, online storage, web apps, and cloud collaboration platforms can enable remote work and render physical barriers largely irrelevant. Video conferencing apps allow employees to hold meetings online, while virtual workspaces provide a one-stop shop for feedback, team collaboration, file sharing, and more.
3. Automate routine processes
Faced with the need to scale back spending on human resources, businesses have a growing interest in solutions like workflow automation and artificial intelligence. But it’s not about completely replacing human workers with machines. Rather, it’s about automating repeatable processes to boost efficiency while freeing up time for employees to work on more rewarding tasks that demand a human touch. Automation also reduces the risk of human error, which is a costly problem many companies simply can’t afford in the age of COVID-19.
4. Support more customers
Automation also frees up valuable hours for supporting more customers. For example, using solutions like AI-powered chatbots and self-service knowledge bases can greatly reduce the number of support tickets filed. Support personnel can then focus on resolving issues that can’t be solved automatically or alone.
Moreover, investing in service-based technologies like cloud computing and managed IT services lets you scale with demand and increase your capacity to serve more customers without any unnecessary capital expenses. Best of all, you only pay for the services and capacity you actually need.
5. Reduce long-term expenses
Running a business comes with many overheads, but investing in technology can help reduce and consolidate them. For example, physical office space is one of the biggest expenses for many businesses. But, for the most part, it can be replaced with cloud-based offerings that keep remote teams connected and able to serve their customers from anywhere. Investing in technology can also reduce other capital expenses and ongoing maintenance costs, such as those associated with hardware upgrades and repairs.
Cutting Edge Network Technologies provides dependable technology solutions and support that help companies better adapt to these uncertain times. Contact us today to discuss your technology needs.