Technology, which was earlier a luxury for businesses, has now become an essential part of their operations. Each year, businesses invest a significant amount in advanced technology to maximise their productivity and efficiency. According to Statista.com, in 2023, the software industry spent approximately 19% of its revenue on new technology, whereas consumer products companies invested only around 5% of their revenue in the new-age technology.
However, the hope to simply task and maximise productivity with technology is only realised by a few companies. According to Litmos, 80% of tech users only utilise 20% of their device or software capabilities. But why? Too often, most companies barely scratch the surface of what their devices or software can do. These companies scarcely spend their resources on training their employees, ultimately eroding their productivity and efficiency. According to HumanSmart, companies that invest time in understanding and training employees on new technology realise a 24% higher return on investment (ROI) than those that don’t.
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Just Investing in Technology Wouldn’t Reap the Results
Another thing that highly efficient and productive companies do differently is that they subscribe to newsletters, communities, and more to stay connected with the experts and learn new tips and tricks regarding the technology. For instance, the Apple support community consistently shares hacks to optimise the iPhone for better productivity and news about the latest updates. Staying updated with these trends empowers these companies to improve their performance and safeguards them against cyber attacks.
Moreover, efficient tech users understand that one size doesn’t fit all, especially for technology. Customisation is the key to driving maximum operational efficiency. According to Hiren M., Managing Director & CTO of Spaculus Software (a company providing AI solutions and digital transformation), in a LinkedIn post, companies leveraging custom ERP solutions reported a 30% improvement in operational efficiency. They further mentioned that the ERP systems reduced forecasting errors by 50% and reduced inventory costs by 10-15%.
Also, most companies often overlook the importance of maintaining their devices. This can drastically reduce the lifespan and performance of your technology.
Synchronise the Ecosystems
The true power of technology often emerges when devices and systems work seamlessly together in workplaces and homes. According to Dwello, most homes in 2025 will have home-integrated systems like Apple’s HomeKit, Amazon’s Alexa, or Google Home. These technologies enable automated routines, enhanced convenience, and centralised control over devices, simplifying everyday life.
Similarly, professional integration allows for automated routines, improved convenience, and better control over your tech. In workplaces, integrated software ecosystems like Microsoft 365 or Google Workspace enhance collaboration and streamline workflows. Moreover, this integration helps in developing a strong and cohesive work environment.
Leveraging these advancements means staying competitive and adaptive. Integrated systems improve operational efficiency and empower employees to collaborate effectively, even in remote or hybrid settings. As technology evolves, businesses must focus on adopting solutions that enhance functionality and user experience, paving the way for innovation and sustained growth in an increasingly interconnected world.
Know When to Upgrade—or Step Back
Sometimes, getting value from technology means recognising its limitations. It may be time to upgrade if a device or software no longer meets your needs. However, newer isn’t always better. Before upgrading, evaluate your needs thoroughly and explore whether enhancements like additional memory, new peripherals, or software upgrades could extend the life of your current tech.
Thorough research can save you from making costly mistakes. Assessing whether your current device or software can meet your immediate and long-term requirements. An affordable update or accessory can sometimes address performance issues without a full replacement. For businesses, consulting with IT experts before making large-scale changes can ensure smoother transitions and better outcomes.
An Enabler, Not A Solution
Technology serves as an enabler, not a standalone solution. To unlock the value of your new gadgets or software, you must actively engage with them, exploring their full range of features and capabilities. The real power of technology lies in how you adapt and integrate it to suit your unique needs and objectives. Passive usage often limits the potential benefits, while proactive exploration can reveal functions and possibilities that align with your goals.
By understanding its nuances and customising its use, you can transform technology from a basic utility into a powerful asset for growth, efficiency, and innovation. Ultimately, not the tool itself but how you use it determines its value. By embracing an active approach, companies can make the most out of their tech investments and harness their true potential.
