According to the Boston Consulting Group there is a direct correlation between small businesses adopting new technology, and experiencing a rise of 15% in their revenue. They also saw twice as much job growth with those who did implement new technology, vesus those who did not.
Get ahead of competitors
New technology can be a great asset in setting you apart from your competition. Having a quality website while your competitors have the bare minimum can make you look more polished and professional. Being up to date with the latest technology trends for your industry can make your business streamlined and efficient. This results in a better customer experience which will help you maintain loyal customers and attract new ones.
Operate more efficiently
By adopting collaborative tools, businesses can cut down on the time it takes to work on files that multiple people need to have input on. This cuts down on duplicate files that need to be looked through and combined so that tasks aren’t taking unnecessarily long to complete. It also can help you manage daily tasks and reduce the amount of human error that occurs naturally day-to-day. These tools also allow for employees to be able to access files from remote locations. That means if they are on vacation, sick, or on a business trip they can quickly pop on to check their files and send them out if the need arises.
Programs like Microsoft Teams and Skype for Business are paving the way towards a more connected community within the office. These help team members communicate efficiently and quickly get the information they need. It also facilitates communication with employees or business associates with the video chat capabilities. You can host video conferences, or do one on one calls with people anywhere in the world even if they don't have a Skype account just by sharing a link with them.
Reduce your costs
Clunky and old hardware can be a burden on businesses and cost valuable revenue. Servers used to be the optimal equipment for businesses small and large but with Cloud storage, the need for inhouse servers are obsolete. Businesses can sign up for Microsoft 365 and back up all of their information to the cloud where it will be saved to highly secure server centers. They also won't have to worry about any disasters or theft threats that come with having an on-premise server.
Change is a crucial part of growth not only in nature but also in business. For a company to remain relevant in their industry it is necessary that they are providing a quality service but also keeping up with current with the trends applicable to them.