Digital technologies are rapidly changing and evolving, which in turn increases competition and the need for companies to innovate quickly. Business landscapes are becoming increasingly complex. New technologies and processes such as artificial intelligence, machine learning, blockchain to name a few are such niche subject matters that it takes specialised technicians to really understand and develop technology innovation further. For a company to be successful in 2020 and beyond they need to embrace these advancements which will not only help their business today but future proof for success.
Positive impacts of embracing digital innovation
Early on, businesses built websites as a front for providing only information. With interactivity and the onset of themobile revolution, sites and apps started to provide much more. We discuss the positive impacts which this innovation can have on a business.
Competitive Advantage
Any company face falling behind competitors who choose to embrace new technology. This can lead to decreased sales, a reduction in profit and a downwards trend that can be difficult turn around. Sometimes there is no way back for example Blackberry who failed to follow the trend of new phone design unlike their competitors Apple and Samsung.
Cost saving
Investment in digital technology in the short term can be expensive and a lot of work but can have long term benefits. Digital technology can help to streamline processes, increase efficiency, improve productivity and save businesses money.Many companies face dilemmas of incorporating and adapting new technology into their business when their current technology is working fine. However, the investment shows growth and will help future development instead of a slowing of the current technology which can affect the growth of the business.
Efficiency and Productivity
Digital technology can help improve communication, collaboration, content management, access to analytics data and social networking. Staff and customer experience are improved with a fresh approach and interactivity.
Risks with rewards
When making any changes to a business’ strategy there will be risks, but the rewards from getting it right can drive business growth beyond that of competitors who fail to embrace digital innovations. If companies want to continue their success they need to adapt new technology quickly.
We have seen the advantages of embracing technology into your business, however, one factor to always keep in mind. Is this technology right for my business? Definitely embrace digital innovation, but ensure it’s the right one for you. Take advice from experts that can look at your business processes, or invite companies to showcase their products and the benefits, all the time thinking and questioning how can this fit into my organisation?.
Cavendish Professionals
Our technology team have an experienced consultant desk that recruits and places technology specialists, within areas including, software development and ERP etc. With a network of clients and candidates that covers Europe, US and parts of the Middle East they are able to offer exciting projects covering both contract and permanent placements. If you would like to discuss your organisation’s opportunity or discuss roles we have available please contact our team today.
