Staying ahead of the game – The role of technology in business

A few decades ago, businesses were built without the help of the Internet, mobile marketing, telecommuting or smartphones. Today, these businesses are bombarded with technologies such robotics, Artificial intelligence (AI) and new to the fold, quantum computing which will see computers become millions of times faster than they are right now.

“Technology will be embedded in everything in the digital business of the future,” David Cearley, vice president and Gartner Fellow told delegates at the Gartner 2017 Symposium/ITxpo at the end of last year. He added that organisations which are equipped with state-of-the-art technology will enjoy competitive advantages, better productivity and cost savings.

Streamline operations and boost savings

By investing in technology, organisations invest in growth and empower employees to keep up, and get ahead, in a fast-paced world.

New innovations in both hardware and software enable organisations to streamline their operations and improve business processes as they drive towards enhancing their market offering.

According to Cearley, advances in AI will augment existing jobs and improve productivity. “The ability to use AI to enhance decision making, reinvent business models and ecosystems, and remake the customer experience, will drive the payoff for digital initiatives through 2025,” he added.

It all comes down to hardware

While AI and other innovative solutions are largely software-based, these applications are only as good as the hardware they run on and staying up to date with compatible hardware is no longer an option for highly-competitive businesses. It is an imperative.

“Business leaders need to address the misconception that the underlying hardware does not matter.” Gartner said in its IT Infrastructure and Operations Management Role report. “Getting the right hardware can significantly reduce operating expenses and provide a faster system.”

Keeping up with technology doesn’t have to be expensive

Advances in technology are being made at an increasingly rapid pace, and because regular upgrades for an entire organisation can be expensive, many companies try to ‘sweat’ their assets instead.

On the surface, it seems to make sense to use existing equipment until it fails, but assets such as laptops, desktops, smartphones and tablets cost more in downtime and productivity the longer they are used. Employees need to be equipped with reliable equipment, rather than devices that delay and disrupt their work.  Productive employees, working on the prevailing technology every few years, better contribute towards revenue growth and efficiency for an organization.

Deploying the upgraded technologies does not have to be as difficult as it traditionally has been. Access to technology can be gained through the use of a more convenient and highly adaptive Pay-Per-Use (PPU) business model.

PPU allows an organisation to acquire the use of the equipment it needs and with the flexibility of paying for it for as long as the company needs it, rather than owning it. When the equipment is no longer operating at its optimal level, it can be traded in for newer and faster equipment. This works well for technology in particular, because of its short lifespan.

The doubling of computer processing speeds every 18 months (Moore’s Law), demonstrates how technological change is occurring at an exponential rate. Replacing technology every two years to keep abreast of technological advances is impractical. The resulting consequence may be to sweat those assets until the massive investment has been recouped. This would mean that the machines will be nearing their optimal levels and by the fourth year, they could cost money in downtime and slow service delivery.

With the Pay-Per-Use model obsolescence will no longer be a worry as scheduled refresh cycles are prioritised.

The outlook is positive

Asset leasing companies such as InnoVent have perfected the PPU model through their subsidised financial offering.

InnoVent’s end to end asset management solution provides businesses with the ability to intelligently procure the equipment they need to operate effectively. Companies only pay for the portion of the equipment, allowing for both the convenience of regular technology upgrades and a unique cost saving benefit.

During use, reporting tools such as an online contract information portal and real time asset tracking technology ensure the client stays informed of their PPU (leased) asset estate until the eventual disposal of those assets with flexible replacement options.

The PPU business model is fast becoming a favourable alternative, saving businesses money and ensuring that equipment is always up to date. PPU allow customers the flexibility to consume and pay based on their unique needs. Delayed upgrades should no longer be an issue when other alternatives exist.

For more information, please visit the InnoVent website.