Irrespective of whether your business is a lifestyle venture supporting life’s luxuries, or your business goals include becoming the next Mark Shuttleworth or Elon Musk, sustainability is vital.

Whilst key in even the normal course of events, it is now more so than ever. As the country (and world) suffers through the ongoing COVID–19 pandemic, the impact on both the economy and business landscape is catastrophic. In fact, a recent article by McKinsey & Company predicted that “around 60% of South African SMEs may close before the crisis is over”. However, the impact of COVID–19, unfortunately, is being felt by many businesses of all sizes, on both a local and global scale.

With sustainability a fundamental goal for business owners the world over what are the questions that you, as a business owner, should be asking yourself when it comes to your technology requirements and infrastructure?

 

Are you realising the most from your IT investment?

Is the IT guidance you are receiving, and the implementation of your chosen solutions and/ or tech infrastructure allowing you to realise maximum benefit from your IT investment? Not sure? Take a step back. As holistic an understanding of your business as possible (goals, operations, processes, etc.) will greatly assist in determining whether you are implementing tech reactively and with little thought or consideration to your business’s bigger picture. Your IT investment should be about so much more than simply a list of IT services applicable to most organisations. To truly harvest the benefit of IT as an Investment, it requires as exact an alignment with your business’s real requirements as possible. So, take the time to list where you are now and where you are going and find a service provider to help you plan into your cashflow what you may need tech or system wise to realise your goals.

 

To trend or not to trend – ‘tech’ for the sake of tech, or not?

Here today, gone tomorrow or perhaps the ‘next best thing’! Remember, that tech ‘trends’ are not always relevant. Technology will constantly evolve and disrupt.  The ‘next best thing’ is only ‘best’ if it is a fit for your business. What is key is the strategic intent behind any ‘tech’ investment or implementation. Never IT for the sake of it, rather IT as an Investment. Engage with your partner, ask for their insight and guidance as to the relevance of any current and/ or future IT trends, thereby ensuring you remain either at the forefront of any technical developments essential to your business, or, similarly, avoid getting caught up in ever evolving trends that serve no purpose or relevance to you.  

 

Yes, but what about tomorrow?

Ensuring as strategic an alignment as possible between your business requirements and implementation of any IT or technology solutions will serve to assist in ‘futureproofing’ the business. This is irrespective of the technology involved, underpinned by the very nature of a strategic understanding and consequent strategic intent behind every decision. Coupled with a short-, mid- and long-term plan when it comes to guidance on what is required from a technology perspective to assist your business in the attainment of its goals, will ensure a smooth transition into the demands and reality of what tomorrow or next year may bring. This might be as simple as upgrading all your laptops to effectively use the cloud or it might mean an integrated accounting with your bank or a separate system or it might mean … you see where we’re going here?

 

Are my business relationships and supplier agreements providing the flexibility I need?

Always, but now more than ever, flexibility is essential. The unpredictability of the world we live in and a constantly changing business landscape, highlights the need for flexibility in pretty much whatever we choose to engage with. This is as true when it comes to our suppliers. Are your agreements structured in a manner that fit your business needs? Are they cost effective and tailored to both your cashflow and business requirements? Or are you tied into fixed long-term contracts that may prove to be either unbreakable or are accompanied with huge cancellation penalties?

 

Next best step?

If you do nothing else, sit down and have a ‘non’ tech conversation. Examine the business, unpack both short- and long-term goals. Where do you want or need to be tomorrow, what does next year look like and five years’ time? And when you are clear on the above, re-engage the ‘tech’ dialogue. What technology and/ or IT infrastructure do you require to help you achieve that? Empower yourself and your business to be guided every step of the way, ensuring that it is never ‘tech’ for the sake of ‘tech’, but rather IT with strategic intent helping to ensure the sustainability of your business, together with a partner committed to walking the road with you.