“Technological change is one of the principal drivers of competition. It plays a major role in industry structural change, as well as in creating new industries. It is also a great equalizer, eroding the competitive advantage of even well entrenched firms and propelling others to the forefront.” (Michael E. Porter, 1985, p. 60)
This quote from the famous economist Michael Porter might be old – but it's still as valid now as it was more than 30 years ago. Technology still drives competition.
Not keeping up with technological changes is one of the key reasons why companies fail. Take Kodak as an example, which was named as a successful organisation in Porter’s article but were filing for bankruptcy 27 years later. It's an example we used in our eBook, Controlling Your Khaos. Drop us a line if you'd like a copy.
Constantly striving to stay ahead of the curve can lead to a substantial competitive advantage. Modern examples are companies like Apple or Google, who invest millions in R&D and innovation and always expect to be on the cutting edge. Whether you like their products or not, it's impossible to deny their success.
You might think it's easy for those tech-giants, as their financial resources appear infinite, while SMEs often struggle to keep their heads above water.
But What If Technology Is Not Something That Costs Money, But Something That Earns Money?
You don’t need to be the next Elon Musk and invent new technologies all by yourself. There is plenty of great technology out there, waiting for you to abandon the post-it notes, spreadsheets and manual workarounds that you're currently wedded to.
That technology doesn’t have to cost a fortune. The rise of the Cloud and SaaS applications means that complex tech isn't just for the Big Beasts.
Take our Cloud ERP solution, as an example – you can currently get it from just £50 per user per month. But more on that later…
Firstly, it is important to understand that embracing technology starts in your head. And in the heads of your employees. It means getting rid of outdated, inefficient processes in your business and moving towards a company culture that is open to adopting new technologies, which make you and your team more productive and more efficient.
And this is where technology starts to earn you money.
By automating your business processes with modern applications, you can save time. And time is money!
Automated sales order, pick/pack/despatch and stock control processes, all connected with your CRM and financial management, and the possibility to monitor your business performance from anywhere in the world can release an immense amount of time – and reduce costs. And you can then use your time for more important tasks, like moving your business forward. For example, you could increase your marketing efforts and boost your sales. You could focus more time on product development. Or you could start to penetrate new markets, with the help of eCommerce and communications technology.
By using modern ERP software, you will be able to handle the increased number of sales orders. You won’t have to spend hours typing information in spreadsheets – it is all done for you. Automatically.
It’s Not All About The Money, Though
The benefits of using technology in your business are not only financial.
For example, having modern technology in place can help to increase employee satisfaction. Slow and outdated applications can be very annoying for your colleagues, especially if they have to use those applications to perform repetitive, boring tasks that could easily be automated. You can overcome these challenges by implementing state-of-the-art technology. Happier colleagues and employees will perform better and be more productive.
An application that can be used throughout your business, combined with modern communication tools will also facilitate teamwork, collaboration and the sharing of information. Again, this will lead to higher productivity and fewer misunderstandings. And not only internal communication can be improved, but also external communication with your customers. Modern Cloud ERP applications provide you with the means to offer a continuously high level of customer service and will increase customer satisfaction in the long run.
Using technology can also significantly reduce the likelihood of mistakes. When handling processes manually and creating and maintaining spreadsheets, human errors are inevitable. On the other hand, if you give them the right instructions, machines don’t make mistakes. You won’t need to waste time hunting for errors in your in-tray anymore. You also won't have to worry about handling the customer calls and emails asking why their orders are yet to be fulfilled.
Particularly with cloud software, you won’t feel restricted by time or place. You will be able to access key business data 24/7 from any place in the world with an internet connection. As a result you can make important business decisions immediately without having to be tied to your desk. Enjoy full flexibility through technology.
Abandon the Spreadsheet and Take Over The World – Or At Least The Competition
In 2017, we are truly in the digital age with technology having a major impact on our lives – and our businesses. Don’t allow your company to fall behind.
Dive into the digital age. Abandon your spreadsheets and implement state-of-the-art technology to manage your business. It will not only make your life easier, but it will ultimately help you to stay ahead of, and outperform, the competition.
Especially, if you are using our ERP on the Go which allows you to manage your entire business from your phone – from stock control to order fulfilment and from CRM to accounts and in-depth reporting. Our cloud-based ERP solution allows you to control your business from wherever you are. And now we return to the point I mentioned earlier. Right now you can get all of this for only £50 per user per month!
This offer is temporary, so crack on and start your free demo. NOW!
Please Note: This article was edited on 21/02/2018 to reflect Khaos Control Cloud's updated process re: trials.