There are no shortage of technology solutions in the modern marketplace. The proliferation of B2B technology products and services, which blossomed in 2019, became even more pivotal during the pandemic. It’s estimated that by 2023, $30 billion in revenue will be generated by products and services that didn’t exist before the pandemic—with the countless solutions, services, and offerings available to organizations, maneuvering through this expansion with a tech stack that benefits your company and employees can be a challenging undertaking. With that in mind, this article discusses some of the contexts that should frame the specific solutions your business utilizes.
Every decision-maker has their own views and motivations.
With any purchase, be it a service or product, you must consider its user experience. After all, the cost of a new tech solution is irrelevant if the end-users don’t use the product! As you discuss, create and integrate a new tech system, the end-users need to be a part of the conversation. They should have the opportunity to offer input, participate in trials and demonstrations, and ensure their needs are met to further whatever business goal fuels the purchase. Especially for completely virtual companies, solutions like cloud-based software are fundamentally necessary for your company to operate. All parties should be able to easily access and use the product or service to ensure people can remain proficient in their work.
When evaluating tech options, we recommend you give more consideration to tools with relatively high ease of adoption. The cost and obstacles associated with the initial implementation, data transfer, and employee training can add up and result in additional expenses beyond what you might initially think. While these barriers are less critical for large-scale companies (because they can expect to utilize the solution for a much more extended period), small and mid-sized organizations can typically scale beyond their current tech stack more rapidly than a larger counterpart. Because of this potential for scale, small and mid-sized businesses should expect to outgrow their existing tech stack more quickly than a larger organization. This increase in scale potential also means that a tech solution that doesn’t scale well might result in an increased frequency of technology adoptions, which means increased costs and barriers preventing a company from maximizing its growth.
Establish a bottom line of trust between departments:
No matter how incredible, cost-friendly, or easily adoptable a piece of technology is, you can expect it to pose issues to someone in your organization. (If you regularly find technology that satisfies everyone in your organization, please share your methodology with the world.) Understand that you probably won’t find everyone’s perfect solution. So, you must use a data-driven approach to determine which solution provides the most benefit to your organization. Making strategic decisions based on data analysis and interpretation is a long-term decision-making process that, once adopted, yields the best possible results for the most people in your organization. Companies that leverage data to drive decision-making gain a competitive advantage, reduce business costs, and increase profit.
How can you make data-driven decisions? Prioritize your business objectives. Starting with your business objections at your core will help focus your choices based on criteria that matter. Aggregate relevant data that informs and increases your objective's scope and draw conclusions based on that information. While it’s easier said than done, maintaining a data-driven approach is the best long-term solution to make decisions that further business growth. Even after a decision has been made, people within the organization might still feel frustrated by the end result. Creating a company culture based on mutual trust, respect, and understanding can help build the rapport needed to communicate effectively when a department doesn’t get the solution they want.
Remove complexity to scale growth:
When broadening your tech stack, simplifying the buying process makes scaling and growth progression more attainable. The faster your company can operate and utilize the new solution, the less cost goes into the conversion. While the solution’s buying cycle is dependent on much quicker, moving through them quickly (while still retaining great attention to detail) and just starting the process is a confederation you should make when adopting a new solution. Of course, this doens’t mean simply integrating something as quickly as possible without addressing the potential outcomes. A time-to-value system is critical. In general, valuing progress over perfection will contribute more to your bottom line than the other way around.
Integrating new tools is a nuanced topic. While there’s an apparent dichotomy between the integration and the application of technology, the technicalities and mindset that drive the former should be carefully considered before a new tech adoption. While this planning and consideration period shouldn’t be overdone, a thoughtful and purposeful action plan centered around a concrete business objection will make adoption a far more straightforward and viable solution.