Whenever a business upgrades or switches to a new technology, it is called a technology change. This may involve the adoption of an entirely new technology or an improved version of an existing technology. Any technological innovation affects how a company operates and grows. Because a technology change helps increase the output of a business, it can overhaul a company’s operations.
If you are considering a technology change for your business, here is everything you need to know.
When Is Technology Change Necessary?
A technology change can give you a much-needed competitive edge. However, implementing new technology in your business can also be a massive challenge. In most cases, the first step is to know when you can no longer postpone a technology change.
Signs that your company needs to invest in new technology include the following:
- Inefficient work processes: If your current business processes are clunky and slow and hinder productivity, it’s time for a change.
- Departmental data: If you store business data and information in chunks across different departments, you cannot get a comprehensive overview of operations. In this case, you need a tech solution to store data on one platform.
- Ineffective security systems: Protecting your company’s sensitive data from cyberattacks is crucial. If your security systems no longer work as well as they should, your business needs a technology change.
- Scalability is not an option: If your current tech platform is not scalable, it will stand in the way of your business expansion. Your company needs technology that grows along with it.
- Poor customer service: If your software system is outdated, this could lead to poor customer service and negatively affect customer retention. For instance, customers will become frustrated if you work with a client portal that takes several minutes to open. If your website allows for online payments, but outdated software causes the checkout page to crash, you will also have unhappy customers.
Choosing the Right Technology
The first step is to identify the new technology for your business objective. If your goal is to grow your company to double its size within five years, the new platform must accommodate this growth. If you want to cut overhead costs or increase your team’s productivity, the new system must offer features that make this possible.
A technology change will also introduce new functionalities to streamline existing processes. By automating routine tasks, you help improve business efficiency. At the same time, any technology change should prioritize an easy learning curve. This will keep business disruptions to a minimum.
In addition to these features, you must choose software with high-security standards. Cybersecurity is a must-have for any online system. Security systems should also include a behavioral analytics option to avoid scams and other cyberthreats.
Planning for a Technology Change
When you have decided on the new technology to implement, let your employees know of the upcoming change. Explain why a tech upgrade is necessary and how long it will take to implement the new system. Let your employees know about extra training requirements so they can plan their schedules.
You can also create a project team to oversee the process. Doing this will allow you to identify possible issues during implementation. Plus, you can track the different goals along the project timeline.
Remember to develop a migration plan for your data. A migration plan entails identifying the format and location of the data. It also includes an overview of how sensitive the data is. When you have an idea of the scale of the data migration, you can set a timeline. Then, back up all the data and start the migration. If this process is too overwhelming for you or your staff to manage, get an IT data specialist to assist. You must also have an extensive testing plan in place once the data is loaded into the new system.
Prepare for Challenges
A technology change comes with many challenges, especially if you have a department that is not on board with the move. Prepare to address employees’ concerns and apprehensions . Explain the benefits of the new system and how it could help them perform their duties better. Additionally, if they require more training, you should accommodate them.
As mentioned above, you may run into data migration issues. Sometimes, it does not matter how thorough your planning is, errors may still creep in. You must have a backup plan in place in case of data loss. Ask the software provider if their system has a backup or if you should find another way to keep your data safe before and after migration.
If possible, prepare a supplementary budget in case there are unexpected expenses. This may include extra integrations or additional software.
How to Evaluate the Impact of a Technology Change
It is crucial to evaluate the impact of a technology change. This is how you will determine the success of the new system. Use a framework to establish the strengths and weaknesses of the new technology. Analyze the opportunities this technology may present. Consider whether taking these opportunities will positively impact your revenue and productivity.
Then, make the most of the opportunities first. Offer new online features or create a new product page if the new technology helps you do these. The other parts of the evaluation will then fall into place. If you make the most of new online features, your revenue will grow.
You should also get feedback from your employees to find out whether the system is user-friendly. Set up key performance indicators to continue to monitor productivity, efficiency, and customer satisfaction.
Change Your Business for the Better
Upgrading your software systems allows for growth in all areas of your business and, most importantly, makes it easier for employees to upskill themselves. Technology is the way of the future. So, when you implement a technology change, you are also giving your employees a valuable opportunity to gain skills that will help them thrive in their career.
With over a decade in the tech field, Bogdan blends technical expertise with insights on business innovation in technology.
A regular contributor to TMS Outsource's blog, where you'll find sharp analyses on software development, tech business strategies, and global tech dynamics.
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