Technology in a Down Market

I won’t dare to utter the dreaded “R-word,” but we are all aware of the current economic situations.  Gas prices are up.  Credit markets are hurting.  The almighty dollar is not so mighty.  Companies are starting to scale back their capital and operational expenditures.  This is a great time to look at processes and determine how to become more efficient and more cost conscious.  

 

This might seem like a poor time to look at spending money on technology, or on technology services.  However, that technology may make your company more efficient, and able to stave off the downturn.

 

One of the first things companies can do is to increase the mobility of their workers.  This means there is less gas spent driving to the office and back, which is good for the economy, good for the employees wallets, and good for company efficiency.  If an employee can be working each day right from the get-go, or from a client’s office, that means what was once driving time is now work time.  In addition, I can tell you we have closed deals mainly because we had the ability to make changes to a proposal or service contract while sitting with the client.  If you don’t have to leave their office, you don’t give them extra time to think about it. 

 

Another option is to choose to outsource technology service rather than have a full-time IT employee.  A company can usually get a more diverse level of technology talent for less money than a salary plus benefits. 

 

Companies can also find ways to make their processes more efficient through the use of technology.  Forms can be standardized and saved to central servers to be accessed by everyone.  In this way, more repetitive, data-entry type work can be performed by lower-salaried employees, while professionals are able to bring in more clients and perform the analytical work.

 

The key in a down economy is to view technology spending as an investment for which there will be a return.

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