It used to be that a quality product and great customer service were the two most foundational components of a successful business. However, as we continue to become more digitally connected and our tolerance for long customer lead times lessens, technology will play a more integral role in the way modern businesses operate. Practically synonymous with innovation, technology helps to facilitate a differentiated marketplace by enabling businesses to work smarter, more efficiently, and more productively than ever before. Although fundamental to modern infrastructure environments, the constant evolution and high price tag often associated with technology has hindered many organizations from adopting the newest and most advanced business innovations. While it’s unrealistic to assume that today’s businesses will always have technology that reflects the latest market trends and advancements, there are a handful of strategic avenues that can be leveraged to ensure that organizations invest in solutions that are both sustainable and equipped to effectively support business and market demands.
It can be easy to get caught up in the cycle of continuously purchasing technology with the latest gadgets or newest features, and while it may be a tough pill to swallow for all the early-adopters out there, it’s important to remember to think long-term when investing in new technology. Not unlike cars, technology will begin to devalue at the moment of purchase. This is largely due to the fact that before an organization has even had the chance to begin implementation, a newer, better, and faster version will have surfaced. So, instead of focusing on adopting the trendiest and most feature-rich technology, organizations must take a step back to ensure that their investment supports the business needs and initiatives rather than social standards set by the tech world.
Know What You Need
As discussed, it’s important for businesses to establish what they need rather than what they want from a given solution. While it may seem easy to use ‘we’re growing and need to scale’ or ‘we’ll be more productive’ as a justification for purchasing an extensive and robust technology solution, if it’s not fully optimized it will likely be chalked up to a wasted investment. To prevent this, organizations must perform the necessary due diligence to identify existing systematic challenges and hindrances, establish the areas where certain functions or features may improve capabilities, and use those as benchmarks to properly evaluate which technology solution best aligns with corporate interests.
Do Your Homework
When it comes to technology, there is a seemingly endless list of options available to modern enterprises. As technology continues to assimilate further into business culture, and the need for businesses to come more agile, efficient and effective grows, more and more technology-centric solutions will come available. With so many options to choose from, purchasing new technology can be extremely overwhelming. To identify those solutions that will address existing challenges and help to create a more effective operation, organizations must take a focused and pointed approach to the evaluation process that uses predetermined benchmarks in terms of price, implementation and support. Even if there is top-down pressure to implement a new technology rapidly, it’s important to take the necessary steps to ensure that a solution fulfills an organization’s operational, budgetary, and support requirements.
Within the transit industry specifically, there is quite a bit of pressure for agencies to transition away from their legacy systems to the technology, like transportation software, that will enable them to better adapt to today’s growing demands. Regardless of industry, organizations must take the time and necessary steps to ensure a return on their technology investment.
To learn more about what steps need to be taken prior to signing an agreement with a transit software provider, download our eBook “Choosing Your Transit Software Provider