Tuesday, December 2, 2008

4 Key Points When Considering New Technologies

A technology solution should meet at least one of the following four criteria:

1. reduce operating expenses
2. automate existing (efficient) processes to enable growth
3. provide an effective means to communicate
4. enable your business to improve its products and/or services

Before the first dime is spent, insure that your examine these criteria.

If your internal processes are efficient, then applying a technology solution will automate your operation. This in the only true path to a proper return on investment (ROI).

On the flipside, if your process is inefficient, then applying technology will be costly and likely work against itself. Technology for the sake of technology is not going to solve anything.

In fact, without the proper process and strategy, you will likely create problems and reduce your margins by applying the wrong technology solution. A technology "solution" should always solve something.
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