How to Get the Most Out of Your Technology Investment

The last year has put the power of technology into perspective. Digitally connecting with their team and their clients became a major focus for companies of every size, pushing businesses around the world to speed up their efforts to get online. According to Celerity, 63% of leaders say that COVID-19 pushed them to fast-forward their digital transformation efforts to get online ASAP.

While having technology is fundamental, it’s equally important to make sure that you’re actually using it – and that you’re making the most of your investment. A survey of 129 leading corporations found that companies are wasting 37% of their software spend – that’s roughly $30B annually. While that’s an incredible impact on the bottom line, the lost revenue from refusing to go digital has an even greater long-term impact on companies and the industries they represent. Prioritizing technology and making it a fundamental part of your business strategy is what sets your business apart and ensures that you’re maximizing this tech boom. Here’s how business leaders can make sure that technology is a priority today and how to help those investments pay off tomorrow.

Trainingman writing on white board

What good does a tool do if someone doesn’t know how to use it? A user can be equipped with the latest and greatest software and hardware, but proper training on how to make the most of it is what delivers a strong return on your technology investment. From basic UI navigation to in-depth tips and tricks, an expert’s training and guidance should be considered a part of the onboarding process rather than an optional extra add-on.

Proactive Maintenance

It’s easy for the CFOs of the world to think about technology spend in a reactionary way: “If something breaks, then this is the money that we’ll use to fix it.” This option may save money upfront, but the long-term impact of aging technology combined with the security risk of unsupported legacy software will eventually leave you with a higher bill and a hardcore headache. Taking a proactive approach to IT, performing preventative maintenance, replacements, and repairs before they become a Defcon 1 disaster helps ensure that you’re constantly equipped with the tech you need to succeed while also minimizing unexpected IT costs that could bring a big hit for your bottom line.

Backup and Disaster Recovery (BCDR) Plans

Proactive maintenance and a BCDR plan go hand in hand. Having a comprehensive backup and disaster recovery plan ensures that your entire library of data is backed up and protected in the case of a data loss event. From natural disasters to ransomware attacks, a BCDR plan and cloud storage come together to keep your company’s technology and data protected and prepared for whatever the future may have in store.

End of Life and Replacement Planning

A part of proactive maintenance is proactive hardware replacement. SeedSpark recommends replacing devices every three years, swapping this aging tech out for newer and more efficient options that have hit the market. This strategy may seem like an unnecessary cost, but it goes beyond equipping your team with the latest tools. Proactively replacing devices ensures that all devices are constantly covered by warranties that provide repair or replacement when damaged. Additionally, parts for legacy devices become more difficult to find as manufacturers stop production and move on to the latest technology. 15-year-old laptops may be getting a company by today, but there is no guarantee that they will be tomorrow.

Cybersecurity Standards

person using laptop computers

With ransomware attacks targeting companies left, right, and center throughout 2021, the importance of cybersecurity standards for businesses of every size has never been more apparent. Experian reports that 60% of small businesses will close after a data breach. You may have thought that was a scary stat, but ~83% of business owners have no contingency plan for dealing with security threats. Once the technology is in place and users are making the most of it, protecting your progress and your technology investment is the next important step. AI-powered antivirus solutions, such as those provided by SeedSpark, meet the standards of today’s most secure industries and help protect users and their data each day.

Whether you’re starting a new small business or have run a successful team for 30 years, now is the time to take technology seriously. Investing in technology means investing in your future. Contact our team today to schedule a free 30-minute technology assessment to analyze the tools that you have today and begin building a strategy for tomorrow.

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Written by Samuel Adams

As a lifelong fan of technology, Sam has always had a deep interest in learning about the latest innovations and how they are revolutionizing the worlds of business, marketing, and entertainment. As Social Media and Content Specialist at SeedSpark, he spends time chasing the newest trends and breakthroughs pushing the digital transformation in our personal and professional lives.

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