How to Gain a Competitive Advantage by Equipping Your Business With The Right Technology”

Many businesses view IT as a necessary, but challenging aspect of their business.  What many have come to realize, however, is that investing appropriate time, money, and resources into the right technology will not only help your business to run more smoothly, it will also give you a leg up on the competition.

Below are a few ways that you can gain a competitive advantage by equipping your business with the right technology.

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The Right Technology Improves Productivity and Communication

For your business to compete efficiently and effectively in its market, it’s important to have well-established processes in place to streamline operations. The best way to do this is to ensure your business has the right technology in place to increase productivity and communication.

Your business needs to run like a well-oiled machine. Invest in proper phone systems and fast internet that will not only allow employees within the office to get more work done, but will also support video conferencing for external communications that are essential with the growing trends of a remote workforce.

Businesses that aren’t streamlined risk bottlenecks that can delay progress and slow down future developments of your products or services. The more efficient your business is, the more likely you are to get new products and services out the door to your customers in a timely manner, which will help you stand out from your competition.

Additionally, no matter how great your business is at forecasting, you can never predict with 100% accuracy what types of ups and downs your business will experience. By implementing scalable bandwidth in your company as part of your processes, you’ll be certain that your systems can support whatever changes may come your way.

The right technology will allow you to effortlessly evolve with emerging trends and scale as needed, putting you in a great position for growth and the ability to rise above your competitors.

The Right Technology Creates Positive Customer Experiences

Imagine an individual is looking for car repair, and they have a choice between two dealerships for the service. Both offer similar pricing and repair services. The first offers auto magazines to review while the customer waits, but doesn’t provide customer WiFi or any other form of entertainment to help the time pass. The second dealership not only offers fast WiFi that customers can use to get work done while they wait, but it also offers a television with a variety of channels for visitors to choose from to help pass the time. Which dealership do you think they will choose?

The obvious choice is the second. Customers are coming to expect these types of amenities, and they are directly influencing buying decisions. Don’t let something like guest WiFi let you lose customers to the competition.

But while providing free WiFi access makes waiting customers happy, there is even more that this technology can do for your business. Through their WiFi access, you can insights into your customer’s and potential customers purchasing habits, giving you a better understanding of their wants, interests, and needs. Knowing this information allows you to give the customer’s exactly what they want, which will give you a competitive advantage against other businesses.

The Right Technology Protects Your Business

Cyber attacks are an increasing threat in the modern world, and no company is immune to them. By taking steps to implement the necessary technology needed to protect your business against cybercrime, you’ll be able to protect proprietary data and information for your company. If a competitor is not taking the steps necessary to do the same, they’ll risk losing important information that could be extremely detrimental to the business and even cause the company to go under. Don’t let this happen to you.

The Right Technology Results in Less Turnover

Nothing is more frustrating than trying to get your job done but not having the tools to do it efficiently and effectively. Equipping your team with the right technology will not only improve business operations, but it will make your employees happy. The happier your employees are, the less likely they’ll be to leave you for a competitor. The last thing you want is your top talent going elsewhere. By keeping the best and the brightest on your side, you’ll be able to outshine your competition.

Small Businesses many times struggle to keep up with changes in technology. Often, prioritizing IT decisions above other business matters can become a challenge – especially if you have limited IT resources. If this happens within your organization, you may want to consider hiring a managed services provider (MSP) that can alleviate some of the day to day IT management.

By hiring an MSP, you’ll be able to outsource some of your IT efforts to other professionals so that you and your team can focus on critical areas of business that require your direct attention.

There are numerous ways to gain a competitive advantage, and IT, as one of these, should not be ignored or under-resourced. Choosing the right technology can help to define whether you gain or lose customers, whether your business remains profitable, and whether you continue to drive business growth through innovation.

Invest in the right technology for your business and you’ll enjoy a significant competitive advantage.

This post first appeared here: How to Gain a Competitive Advantage by Equipping Your Business With The Right Technology

Martin Jones

Martin Jones is a Senior Marketing Manager with the corporate Cox Communications social media team where he assists in leading strategy, campaign ideation and marketing execution for Cox Business social media & content marketing. Today, over 1 million fans engage with Cox Communications content, campaigns and Customer Care on Facebook, Twitter, You Tube. LinkedIn and Google+.