Choosing the right technology for your business is important.
The wrong choice can mean falling behind your competitors. It can also mean a waste of time and money. Below are a few things you should do and things to avoid to help make this change smoother and, ultimately, beneficial for your business.
Where could your processes use improvement? Are there particular pain points for either your employees or your customers? To avoid selecting technology more because you're just excited about its capabilities than because it's something you actually need, focus on problems and how this new tool will fix them. Telematics, which brings together information processing and telecommunications, is increasingly used in a number of different businesses to solve various problems. By using telematics for fleet management, it can help your fleet manager with a number of different issues, including keeping costs down and tracking drivers. The ability of telematics to transfer data in real time makes it invaluable for companies that need precise and timely information on various metrics.
It can be easy to get so caught up in all the ways that a particular type of tech is going to change things in your business, like monitoring work from home employees, that you forget about the people who are really going to have to take it on board, your employees. You need to think about how to introduce new tools, including training and accounting for any delays that a learning curve might introduce. While it is ultimately your business and your decision, your employees may feel more ownership if they are involved in the decision about what would help them in the first place.
Try to be as specific and objective as possible when you are looking at new tech and figuring out how it will help your business. Do you expect it to increase revenue, and if so, by how much? How long do you expect the ramp up to this increase to be? This can help you assess whether the tech is really advantageous for your company and can also give you something to measure once you have introduced it. No one wants to dismantle a new solution once they've introduced it, but the ability to look at and compare hard figures can help you avoid a sunk cost fallacy in which you stick with something that isn't working that well for no better reason than because it's already been in place for a while.
Don't get so carried away by a product's claims that you don't do some fact checking. There will always be headlines like ways AI has revolutionized the retail sector but make sure you are reading the articles as well before you go all-in on a new process. See what other people in the industry are saying about it. Talk to some of your fellow business owners. Opt for a free trial to start with if it's available, and try to get feedback from customers or employees if you can. Find out as well if the product introduces any security concerns for data at your company and if so, how you might address them.