Covid hit the world by storm, disrupting how businesses conduct operations. To avoid severe losses or the risk of closure, many quickly implemented strategies to keep their businesses running. And technology was a significant adoption as companies took their businesses online to allow people to shop or acquire services from their homes, while they were in lockdowns.
Covid has forced a move to the digital space.
Technology runs the online space; from e-commerce software to distribution all the way to securing infrastructure and assets. There is also the automation of orders, the SaaS that helps in sales automation, follow-ups, and customer retention.
More people are now tech-savvy.
As more and more people are tech-savvy businesses need to keep pace with the technology expectations of their customers. The need for tech experts has resulted in many shortages in technology talent, from IT experts, software engineers, data engineers, security experts among others. There is the urgency of world-class software and technological innovations to offer the best services to consumers. It is therefore critical for your business to keep up with the technology market trends.
Shifting technological trends
Technology is changing at a pace never seen before. The rate of technology adoption has never been faster as infrastructure gets cheaper each year. This makes a lot of technologies cheaper and easier to adopt e.g. automation or moving to the cloud, shifting from traditional faxing to using online faxing service, and many more. Technology influences effectiveness in all aspects of an organization, from creating a social media presence, marketing, decision making, faster processes, etc.
The most valuable companies are technology businesses.
Firms like Google, Spotify, Apple achieve high valuations due to the technology IP they have built into their products and business. As business models are disrupted more and more technology companies are building the next generation of products and customer propositions.
Technology is disrupting almost every industry.
The fact that technology eases processes, influences effectiveness, facilitates the global reach of products and services makes it worth adopting. Industries are now also competing to gain technology advancements to thrive. Failure to embrace technology, especially in the post covid era, will affect your business severely. You certainly do not want to lag with all the innovations and revolutions taking place.
Achieving Technological Benefits
Businesses need to recognize the superiority of technology in the post covid era to achieve business results. This requires strong technical strategies to realize massive growth in industries. The solutions firms develop should adapt to the rising competition in the market. You also have to choose the technology that best suits your business needs. Your choice of technology will determine how happy your clients will be and your revenue growth rate, among others.
Chief Technology Officers (CTOs) can be the greatest drivers of business value through technology. These are people who have specialized technology and leadership experience to help your business grow. They have a technical vision that they understand how to translate into measurable business results. The companies that develop high technology divisions have CTOs. They define the change that allows innovation and to outperform and beat the competition. CTOs have a strong technology mindset, at board level, so that executives can understand the power of technology.
Arif Harbott is an elite CTO with admirable skills in technology leadership. He is also an Angel Investor who has helped multiple industries and dealt with extensive budgets of over $1 billion. He has further delivered over a billion euros in transformations. He had founded various companies and sold one of them before he was 30. Some of his high-profile clients include Lloyds Bank, Ministry of Justice, European Commission, and Booker Group. Change, transformation, and disruption are what get him up each day.
You can reach out to Arif Harbott by: