Every day, society engages in the benefits technology has brought to our lives and businesses. Whether it be customers easily transferring money online or businesses automating primarily redundant activities to streamline processes and reduce costs, technology and IT should be seen as an asset and worth the investment. However, what we deem to be an investment depends on a variety of factors – many of which relate to revenue – and are calculable by measuring IT’s role in return on investment (ROI), return on sales (ROS), and other organisational performance indicators.
It’s true that IT can be an expensive investment in some cases. After all, as a business owner, you allocate an IT budget that needs to cover hardware, software, and staff training and all the upgrades required to keep your business competitive. But with the right IT services and solutions, the ROI on your IT can be significant over time. So, how is this possible?
Successful business depends on markets, and how fast your business responds to changes within that market can be the make or break of your organisation. Integrating various components of technology allows for more seamless collaboration of teams, which, in turn, increases response times to market changes and helps to guide future product development, meaning your business grows more sustainably by harnessing market-driven insights and reactions in real time.
Increased Communication and Collaboration
Working from home has changed the landscape of business and how we work, but advances in communication technology have allowed the transition to be relatively seamless. Platforms such as Microsoft Teams or cloud hosted phone systems promote business continuity regardless of where your team may be located, meaning revenue levels and performance can be sustained.
Automation and Productivity
With the right technology solutions and IT infrastructure, small to medium businesses can maintain workflows generally attributed to much larger enterprises. Tasks and processes can be streamlined, and automation tools can increase your digital presence as well as your customer engagement.
Boost Revenue Streams
IT can help your organisation source new revenue possibilities. A boost in ecommerce sales over the last couple of years is the result of world events and a forced change in buyer behaviours which have led to many corporations finding other avenues of revenue which were previously unexplored.
Improved Storage Solutions
The modernisation of IT infrastructure has allowed businesses to adopt cloud storage solutions as opposed to continuing to use outdated legacy systems which could potentially create security issues. Cloud storage also makes remote working easier as information can be easily accessed by employees while saving space and costs by no longer needing to house or maintain servers.
Ongoing Financial Benefits
By adopting Infrastructure as a Service (IaaS) and outsourcing IT management and solutions to MSPs, businesses can reap significant long-term financial benefits. Communication solutions, cloud services, and automation technology can all reduce the costs normally incurred with running a profitable business.
Australia, like all nations, is experiencing an increase in cybersecurity threats, which could impact essential services, businesses, and governments. Such threats have the potential to be extremely damaging and could cost institutions millions, but the financial impact can be considerably reduced with the right technology solutions such as data encryption, firewalls, and backup and recovery practices and strategies to name a few.
Improved Customer Experience
Investing in processes that streamline your operations and improving your customer’s experience by making their interaction easier results in overall customer satisfaction. When customers are satisfied, you are guaranteed to see an increase in consumer trust which leads to the enhancement of your brand image – two things that will continuously push your business into the forefront of your industry.
It’s worth the investment
While IT may seem like a large investment for many businesses, the ROI and ROS that businesses experience with the right IT speaks for itself. IT is definitely the asset that ALL organisations can benefit from, and the team at Lindentech can help.
Contact us today to find out how investing in your IT can help your business get where you want it to go.