Four Key Questions to Answer Before Implementing New Tech
The 2020 COVID-19 pandemic left an indelible impression on the way we do business, and accelerated many adjustments that will now become part of doing business in the 21st Century. From changes in health and safety protocols to shifting entire workforces to a work-from-home environment, the way we go about doing business has led many leaders to pause and reflect on how they wish to conduct business moving forward. For many, this means turning to technology for creative solutions for customers, employees, investors, and other concerned parties. As you consider implementing new technologies or processes, here are four key questions you should answer before you act.
Question #1: How will this impact my customers’ experience?
When implementing new technology, the first and most important consequence to consider is that of your customers and potential customers. As you consider adding to your technology stack, ask yourself how this impacts the way your customers engage with and experience your brand. Anything that detracts from their experience, complicates the buying process, or requires a certain skill to navigate through may leave a bitter taste in customers’ mouths. At the end of the day, it is your customers that determine whether your business stays open or not, so it is best to ensure whatever you implement will enhance their experience with your brand.
Questions #2: Does this empower my people?
Similar to technology’s impact on your customers is the impact it can have on your employees. When new tools and technology are introduced, there is likely to be pushback from team members as they adjust to change. An August 2020 Harvard Business Review article stated that employees resist new tech because of:
Lack of incentive- they don’t feel like it will save them time or make them more money
Lack of infrastructure- the surrounding systems and processes are not user-friendly
Education gaps- employees are not provided with adequate training to use the product
Piecemeal adoption- no long-term strategy considered in the adoption
Uncertainty- employees do not know the laws or policies associated with the technology
New technology and tools can (and should) be a boon to your business. When employees are not properly enabled, though, technology can become a hindrance that is felt not only throughout your organization, but also throughout your customer base.
Question #3: How much will this disrupt my business?
Disruption is a necessary, yet uncomfortable part of progress. Whether it is personal growth, executing a project, or scaling a business, disruption can breed innovation, creativity, and success. The trick to unlocking this potential when implementing a new technology is to control that disruption and minimize the potentially negative consequences of introducing a rapid change to your business environment. A panel of experts at Forbes published a guide on how to maintain business continuity in the face of disruption, upgrades, and even drastic change. As you consider implementing new technologies and tools, make sure you align the right people, processes, and partners to ensure a smooth transition, speedy adoption, and successful integration into your culture and framework.
Question #4: What is my ROI on this product/service?
The true test of whether or not a new technology makes sense is the ROI your business will see upon implementation and future use. Calculating ROI for a new technology starts with a simple equation where ROI= net gain / cost. It is up to you to determine what you classify as a net gain and what is a cost. For example, some would consider additional employee productivity a gain in comparison to the cost of downtime or adjustments during the implementation and onboarding process. Make sure you have the right people and processes in place to appropriately calculate your own ROI as you evaluate technology and design implementation strategy.
Conclusion
Technology continues to take business to heights we never thought possible. Having the right technology and implementation strategy keeps the best businesses ahead of the curve and on a path that leads to continual improvement and scalable success. If you want to learn more about how you can turn your vision into reality, our team can walk you through the process of getting off square one.
Written by Jared Riter, Senior Consultant
