Choose right tech for you

IT MUST CONTRIBUTE TO THE BOTTOM LINE Analyse your business to determine what standard and customised technology it needs.

Running a business today has to be much easier than it was a few decades ago because of all the technology at our disposal. In fact, one can argue that there has never been a better time in history to run a business from an operational point than today. Processes have been simplified and systems enhanced; hardware is more efficient and faster – all to enable a business to be more efficient and, most importantly, more profitable.

That is the underlining purpose of any gadget or software in a business: it must contribute to the bottom line.

It’s fantastic that there is an abundance of technology at our disposal – but therein lies the challenge: determining which hardware and software to use that will create efficiency, at a reasonable cost, to increase the bottom line.

Many entrepreneurs have been in the situation where they purchased a programme that neither they, nor their employees could understand and, as a result, it became a liability, rather than an asset.

Therefore, the way to approach technology is twofold. First there is standard technology that all businesses should be using. This category includes items such as computers, printers, telephones and the like – including basic essential software such as an accounting programme that helps you analyse, record, store and report all the financial dealings of the business.

Along with that could be a sales programme that tracks prospects, leads and sales, as well as client management software that assists with customer care – and lastly an IT system that manages your WiFi, website, e-mails, cyber security, internal communications and so forth.

The second category is more personal as it is customised technology for your business. In this category you have to analyse your business to determine which tech can increase efficiency and subsequently your bottom line.

For example, if you run a distribution business that purchases and stores goods in a warehouse before shipping them to customers, you must have warehouse software that manages inventory, orders, deliveries and so forth.

If you own a logistics business you must have tracking software that allows you to know where all your trucks are.

Technology is a competitive advantage in today’s business world, but you must first conduct an analysis to determine which tech would add value to your business for the purpose of efficiency and to add to the bottom line.

Munya Duvera is CEO at Duvera Elgroup