Nowadays, the importance of technology in our daily lives is evident, however, when we talk about business life, many managers still hesitate to invest in this area.
Sometimes, the reason for hesitation is that they are satisfied with how they manage their processes; in other cases, even if they are not satisfied, they believe that the current market situation is not conducive to this type of investment. However, regardless of the reason, it is important to know that such hesitation can put your business in a very complicated situation.
This is because Brazilian companies are increasingly investing in technology. According to research by FGV, 7,7% of Brazilian companies' annual revenue should be allocated to investments in this area. This number represents growth compared to previous years, making it clear that those unwilling to follow this path may be left behind.
When and where should I start investing?
In the case of small and medium-sized enterprises with limited resources to invest, a very common tactic is to start according to their needs. That is, to identify the areas where the challenges are greatest and the returns most immediate, and to begin investing in those areas.
Generally speaking, updating the systems and software used by the company is usually a starting point. Therefore, implementing an Enterprise Resource Planning (ERP) system is a very interesting strategy that brings many advantages to all sectors of the company. In fact, it's almost impossible to imagine a company undergoing rapid growth that doesn't use a good, modern ERP system.
Reasons to invest in technology
increase productivity
The most immediate benefit that technology can bring is this: making complex tasks and processes faster and simpler. And, through this simplification, available human capital can be employed in more demanding and interesting activities.
reduce costs
Automation enabled by technology also generates significant cost savings. In industry, for example, the use of connected sensors can help reduce the time between failures and lower maintenance costs for certain equipment. In the service sector, videoconferencing equipment can eliminate employee travel costs in some cases. Virtually all areas have costs that technology can help to eliminate.
Generate data
It's no coincidence that many business owners use the phrase "data is the oil of the 21st century." Having information about your customers, services, and processes is fundamental to allowing your company to work more effectively and meet market expectations. Using systems that generate this information provides extremely valuable insights into how to optimize your work. Investing in ERPs or other types of platforms that generate this data, therefore, becomes essential!
Improving the customer experience
Currently, consumers across all segments want to be served quickly and efficiently, but also in a personalized way. Offering this type of service is undoubtedly a challenge. However, with the right investments in technology, even companies with small teams can provide a more attractive experience for their customers.
Creating disruptive products and services
When we analyze today's most disruptive companies, we realize that they all possess new services and business models that wouldn't be possible without investment in technology. And the constant pace of innovation we see in today's world means there are always new frontiers to explore: artificial intelligence, blockchain, and virtual reality, for example, can still yield great dividends. However, to reap these rewards, investment is necessary!
*Content inspired by text from the Oracle Brazil blog.
