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Plan to Keep Pace with Technology Changes

Even in the current recession one thing for certain is that Technology is ever changing. It’s much slower than it was in the late 90s when the first one off of the assembly line was already obsolete. Even with the slow down it’s still nearly impossible to keep pace with technology, especially when the revenue flows slow.

A good business person should know that purchasing any technology shouldn’t be done on a whim. One should never purchase technology simply because it’s new or that it would be nice to have. Companies and salespersons will always try to sell the newest and greatest technology. They will tell you that it will help you, but the key is for you to always know that you need it.

Technology is one of those things that can break a budget in an eye-blink. Having a technology consultant is one way to be able to control the cost. They can evaluate the need.

Since there are so many technology items available that can assist you in getting your work accomplished, it’s important that you prioritize your purchases.

Is having the newest smart-phone the right thing? Look around the office to see what may be needed to upgrade. Are you using software, maybe an the accounting package, that is a revision or more behind current? If this is the case, the better choice may be to upgrade that technology and not upgrade the phone, especially if the phone is only a few months old.

I recommend that all business have a technology plan. One that is part of the Business Plan. The technology plan should be a multi-year strategy. A plan to maintain and upgrade hardware and software. Look at the items that are vital for a successful operation of your business. When you become aware of new new technology evaluate how it can be incorporated into the business and then add it to the Technology/Business Plan.

An advantage of having a plan is that it may help avoid sticker shock. It gives you a plan for upgrades over a period of time and not a huge costly replacement.

Just because you have developed a technology plan doesn’t mean that you can’t deviate from it. If something new is released that can save money in your course of business it is possible for a delay one of the other items on it.

There are ways that you can save on technology purchases.

Look for technology sales.

Another way is to consider purchasing used. Unfortunately, many businesses close their doors every day especially with today’s economy. When a business closes, they usually liquidate their capital assets, which could include their technology assets. It’s sad to see business fail, but their lost could be your gain.

Technology changes everyday. You want to get your best value from all technology investments.

© 2006-2009 Steven G. Atkinson – All Rights Reserved

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