Conversations with many business managers and individual entrepreneurs cut from varied sectors reveals that the perception on the value of technology remains low, owing to the fact that its delivery is often times intangible. As many businesses conclude work on strategies for the coming year, it is important to highlight and take cognizance of the fact that technology must form part of any product or service mix if but for the following reasons.
It is my opinion that all businesses are in competition in one form or another, with everyone targeting the same consumer – reduced to the human unit and not based on your regular market segmentation grade. Most businesses fly blind when it comes to intimate knowledge of their consumer with their headline metric being product pushed, a factor that can lead to easy erosion of consumer numbers by a competitor who has applied themselves a little more towards providing a more personalized experience.
As business manager or owner, you can only process and infer so much, from the information sent your way. What about the information that is not sent your way? Technology can assist, lending a much needed omnipresent and “omnipotent” sidekick to help see patterns and perhaps offer you a peak into the different possible futures for your enterprise.
Revenue assurance and preservation
The purpose of business is to create value, and that value is measured in revenue. It is therefore the duty of any business owner or manager to ensure that the creation, collection and preservation of revenue is made efficient and transparent. Tools exist to automate these activities and ensure you stay in the black.
Research and development
There are no sacred cows and untouchables, with everything from agriculture to aviation, fair game for disruption. Relying on traditional market tactic that were reactive in nature, will not serve any business well. I strongly believe that the role of researcher should be present in every business. In equal parts risk mitigation and blue ocean strategies, use of technology will greatly enhance the lifespan of many businesses.
While not exhaustive of the value that invisible technology deployment brings, you will notice the “background” nature of these activities and agree that they do count toward a strong and stable bottom-line.