Technology is a Hidden Competitive Advantage

04.24.2018

Less than 2o years ago businesses were built without things like the Internet, smart phones, and tablets. Today businesses are inundated with technologies like robotics, Artificial intelligence and quantum computing which will see computers become millions of times faster than they are right now.

There are endless opportunities to integrate new tech into your business. Implementing the right technology will give your business a competitive advantage in the marketplace. Here are some tips for using technology as a competitive advantage:

Streamline Operations and Save Money

Investing in technology is investing in employee development and growth. The right tech empowers employees to keep up with today’s fast paced businesses environment and get ahead.

New innovations in both hardware and software allow businesses to streamline operations and improve business processes. Whether it allows employees to work remotely, improve time it takes to deliver products and services to the consumer, or reduce overhead – the right tech saves time and money.

Choose the Right Hardware

These new technological applications are only as good as the hardware they run on. Staying up to date with compatible hardware for your technology is no longer an option for businesses – it is a requirement. To maintain a competitive advantage the software your business is running has to have the right hardware to run on. If your server, desktops, or tablets are outdated, you will not be able to unlock the full potential of your new tech.

It doesn’t have to be expensive.

Technology is advancing by the second and upgrades seem to come out almost every day. Many businesses feel as though regular updates are expensive and will try to make their current technology last as long as possible.

It seems to make sense to use existing tech until it fails. But technology such as laptops, desktops, smartphones and tablets cost more in downtime and productivity the longer they are used. Employees need reliable tech, rather than devices that delay and disrupt their work.  Productive employees better contribute towards revenue growth and efficiency for a business. The cost to upgrade every few years greatly outweighs the cost of time lost in production.

Access to technology can be gained through the use of Pay-Per-Use (PPU) business model. PPU allows businesses to essentially rent the equipment for as long they need it. When the equipment is no longer operating at optimal levels, it can be traded in for newer and faster equipment. Companies such as InnoVent use the PPU model through their subsidized financial offering.

InnoVent’s end to end asset management solution provides businesses with the ability to get the tech they need to operate effectively. Companies only pay for the portion of the equipment, allowing for both the convenience of regular technology upgrades and a unique cost saving benefit. PPU allow businesses the flexibility to use tech and pay based on their current needs.

Technology can be the best and biggest competitive advantage for your business.  It will save time and money when properly deployed to your workforce. Choosing the right hardware will ensure all software runs at optimal levels for optimal use. And with programs like PPU, your business can only pay for what you use and allows upgrades at any time. To truly maximize technology’s potential, change your mindset and start implementing the right tech today.