Businesses have had to adapt to a host of new technologies in recent years, with innovations such as cloud computing and the bring your own device trend resulting in significant changes to how employees work.
As hardware and software evolves for businesses across the world, it is important that managers are knowledgeable about the latest trends and that they introduce technology that will boost productivity and increase growth.
As IT becomes increasingly important for businesses, now could be the right time to reap the benefits of upgrading hardware and software.
The recent WannaCry ransomware attacks that hit organisations around the world also highlight the importance of keeping systems up to date and secure. If there is a chance that your company’s data might be at risk, you need to ensure that you have the best systems possible.
So just how important is digital transformation?
More businesses are making IT-related changes a business priority
The rapid pace of technology means businesses are regularly assessing their technological needs. A study from Gartner found that IT-related changes are the second most important priority (31 per cent) for employers, with growth (58 per cent) taking the top spot.
Mark Raskino, vice president and Gartner fellow, said: “IT-related priorities, cited by 31 per cent of CEOs, have never been this high in the history of the CEO survey.
“Almost twice as many CEOs are intent on building up in-house technology and digital capabilities as those plan on outsourcing it (57 per cent and 29 per cent, respectively).”
The figures show that more employers are addressing their IT capabilities in order to improve results, meaning companies will need to do the same to keep up with their competition.
The digital economy is growing rapidly
Digital jobs continue to be highly sought-after and productive for the economy, with research from Tech Nation showing that the growth rate of these jobs was more than double that of non-digital roles between 2011 and 2015.
As these positions require strong skills and high pay, they have a highly beneficial effect on the economy and continue to be in high demand. By creating new digital roles for your business, you could recruit some of the country’s leading professionals and therefore see significant growth.
The study from Tech Nation also found that the gross value added by digital workers is twice as much as those outside of the sector, highlighting the potential productivity gains available by recruiting specialists in the field.
Millennials are attracted to firms with better technology
The NextGen study from PwC found that the integration of technology in the workplace is viewed as crucial for millennials, as they want the best tools available for their work.
What’s more, males (15 per cent) and females (21 per cent) said they would give up some of their pay and slow their speed of promotion in order to work fewer hours. Policies that promote a better work/life balance are likely to be popular with the demographic, and these include introducing more efficient technology that allows workers to achieve more in a shorter amount of time.
If companies have out-of-date computer systems or more traditional ways of working, it could damage their chances when trying to recruit skilled employees in the field and restrict growth.
Customers benefit greatly from better technology
By introducing newer technologies and boosting productivity, customers are sure to receive a higher standard of service than ever before.
This is particularly the case when it comes to data. If information is being stored using outdated programmes and processes, the likelihood of it being lost or compromised is much higher than if modern technology is in place.
As well as this, processes are sure to run more smoothly if the latest technology is used, increasing the potential for positive feedback and customer loyalty.
Posted by Jon Aspinell on 18th May 2017
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