Economic Growth and Technology... Can you have one without the other?
It only takes a simple internet search to reveal why companies either stagnate, collapse or get taken over by competitors that have outgrown them:
- Lack of capital investment
- Lack of a strategy
- Poor customer service
- Poor staff management
- Failure to keep up with market changes
But there is one other factor that not only stands out but often underpins all of the others – not keeping pace with technological change. **Out-Dated Technology** "Economic growth and technology are inextricably linked,” said a global survey of 363 business executives commissioned by PwC.57% of those surveyed believed that business intelligence will be important in order to react in real time to market events. However, over a third of the companies surveyed lacked the tools in order to deliver that real-time information. Wanting to grow? Do you have to tools to do it?
**Cost of not keeping up**It’s not just the business cost of not keeping up, there is also a very real financial cost if the technology that is meant to support your business fails to do its job. As the pace of technological change is getting faster, the cost of standing still as a risk-averting tactic is potentially getting more expensive. No business can focus on a growth strategy if you can’t get the information you need to make robust decisions. Nor can you act with confidence if you can’t be certain that growing your volume of business activity isn’t going to send your software systems crashing around your ears. **Flexibility brings growth**Those that do embrace change benefit significantly. If you get the mix of technology, business intelligence, operational intelligence and resources right – then you’ve got a very definite opportunity for successful growth. At AMA we talk a lot about the benefits of operational intelligence: manual tasks being automated, the freeing up of staff to focus on more important (and stimulating) work, reducing administration costs, and giving management more time to concentrate on growth strategy. Greentree Software delivers the information needed to make those critical strategic decisions; where to invest capital, how to identify new markets or disconnect from those that were no longer profitable. **Ready, Steady, Go**It is having confidence that your technology is in synch with your economic growth that enables you to not only plan effectively, but to act on those plans. If you’re constantly putting out fires with your existing customers or are one of the 48% experiencing an IT incident each week, then your growth plans are likely to be on permanent hold. Over the last thirty years we've worked with hundreds of businesses that have matched technological confidence with business growth. For anyone that is looking to ensure growth make sure you synch with a technology platform that can support you all the way. Click here to find out more aboutGreentree Software.
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