Identifying and adopting the technology you need is not always so simple. In fact, it’s a bit scary.
By: Reid Smeda
To survive and thrive in the 21st century, you need technology. But identifying and adopting the technology you need is not always so simple. In fact, it’s a bit scary. Always risky. That’s true today, more than ever.
Not too long ago, the choices were easy. For instance, deciding what phone to buy was not much of a decision at all. You might’ve had a choice in color, but that was it. Today, the choice is less clear and the decisions mean much more: Which smart phone platform to choose; which carrier to select; the size of your data plan; whether to purchase the phone insurance; etc.; etc.; etc. Whatever you buy, it’ll come with a two-year contract and involuntary membership by association in one tech-cult or another (plus an eye-roll from your teenager if you just get a regular old cell phone). But ultimately, all of the smart phone options will deliver what you need – efficient communication and computing in the palm of your hand.
When it comes to your business, identifying the technology you need is far more challenging and the risk of getting it wrong more severe. To survive and thrive, you must find a way to focus on opportunities, mitigate risks, and prepare for change – regulatory and otherwise. How can you do this? What technology will equip you to advance and also to mitigate your risks (regulatory, reputation, transaction – to name only a few)? With a seemingly endless stream of new technology, it’s easy to get confused. Sometimes, it helps to take a step back and reflect.
Modern technology is exactly that – modern. But the intrinsic value of technology is not. More than 100 years ago, an American philosopher put it best:
“Civilization advances by extending the number of important operations which we can perform without thinking of them.”
Thoughts are a limited resource. You can’t focus on growing the bottom line if your business is consumed by outdated manual processes, uncertainty about how the next regulatory exam will go, or by concerns about adapting to frequent compliance and market changes.
Read the full article here: Recovery Tips – Don’t Just Move. Move Forward