5 technology investments that can give your business that added edge

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on November 25th, 2021       

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Technology in business is essential when you need to get that added edge on your competitors. Even if you are in favour of old school methods, and would rather throw a middle finger to all the ramblings of technology, you have to admit that it forms an integral part of most businesses today. We have put together five reasons why technology adjustments can help push your business forward.

Don’t let your budget prevent you from purchasing new technology

The first thing that might pop into your mind when you hear the word technology is the hefty price tag that comes with it. You could be thinking of investing in new tablets, computers, routers, and other technology equipment that can assist you in running your business more efficiently. However, you also have a budget that doesn’t allow you to push your business into the 21st century. You can breathe easy by getting technology finance that will be tailor made towards your business needs, and your pockets. Contact a financial institution that can assist you in financing your technological business needs. This needs to be a financial institution that understands technology depreciation and planned obsolescence so that your business is never left behind.

It can make things easier and more reliable

Technology can limit tasks that needed hours to complete to literally seconds. It can also help you have real-time insight into what is happening in the market to help you make better informed decisions. Basically, with better investment in your technological equipment the world becomes your oyster. Statistics released by the (ABS) show that 21.7% of businesses introduced new managerial process via I.T. There are various technological tools that can be installed on your computer that can automate mundane, low-value activities to free up your employees’ time to do work that is more valuable in a short space of time.

Technology can improve your customer service

Your customers form an integral part of your business, and without them your business will collapse. We live in a fast-paced world, with people constantly on the go. A decade ago businesses relied on contacting people via phone or email. However, according to the Australian Bureau of Statistics (ABS) there are now 47.1% of businesses that have an online presence. This also improves your client relationship as it offers a personal touch that gives them the sense that you really know them. It’s also works as a good marketing strategy when it comes to reaching a wider market with things like social media platforms such as Facebook that boasts 2.07 billion monthly active users.

It helps your business stay relevant

Business is all about tapping into your customers minds, and understanding what are their needs at that current time. There are many software apps that can be installed, or used online that can give access various analytics to your market that eliminates the guess work. The last thing you want is to see customers leaving in droves because you are not willing to keep up with the times. However, staying in tune with trends and analytics can be overdone. Some businesses try too hard to keep with the times. Know what works and doesn’t work for your business and your market.

It can help you fill in the holes

The whole point of investing in technology for your business is to make sure that you are leading in front of the pack. The right equipment can help you see where the holes are in your market, giving you that added edge to lead in innovation. You can offer a service that other businesses don’t offer, which will attract new customers. Whether you are running a small business, or a big corporation business technology finance will help catapult your business into greater heights.

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