Implementing new technology into any business is timely, complex and expensive. It’s also not guaranteed to be successful. So when do you face the fact that a mistake’s been made and cut your technology losses, versus trying to patch a sinking ship with add-ons and upgrades?
If you’ve invested a small fortune in a technology that isn’t delivering the way you expected, you’re not alone.
The reason why systems fail varies. Sometimes it’s that the platform doesn’t deliver in the way you anticipated or doesn’t integrate the way you thought it would. In other cases, it’s that your business has evolved or grown at a rapid rate, making the technology you initially implemented redundant in terms of its capacity to deliver.
For other organisations technology isn’t an issue when implementing, but rather when they expand, and in particular, merge with or absorb other organisations. Such changes tend to result in a number of legacy systems and processes that hinder operational efficiency, and will often lead to change management around processes, rather than technology – when in reality, your processes should be informed by your technology.
Whatever the reason your technology isn’t working for you, if it’s not delivering, it needs to be addressed and technology losses cut down.
It’s common for companies to try and resolve their tech problem by attempting to upgrade their existing system with add-ons. The downside of this is that they often end up with a patchwork system that grows in complexity, but not necessarily efficiency. A large reason for this is that many legacy systems, or ERP systems try to be all things, leading business to believe that one platform can excel at payroll, recruitment, finance and procurement (just to name a few), when the truth is they can’t.
The alternative and more modern approach is for business to adopt an integrated cloud-based network of specialist systems that speak to each other.
So, the question is – when do you say goodbye to your legacy system and recognise the financial benefit of investing in the right systems?
When you have the courage to cut your technology losses and start again, what you’re essentially doing is empowering your business to succeed. Systems and technology are what power business. Without the right tools you’re creating unnecessary frustration within your workforce, as well as creating additional work, that over time becomes priority over core business and dilutes your ability to operate efficiently and competitively.
And while introducing change is complex and disruptive, businesses need to take a long-term view when investing in any business capital. Organisations are designed to sustain and grow. In order to do both you need to evolve. If you consider how long you see your company being operational, the short-term cost and disruption that comes with change is far outweighed by the long-term benefits that the right technology can offer. And when considering disruption, the time to implement has greatly reduced thanks to new systems on the market that are both a fraction of the cost and time it takes to implement.
So, if your technology’s not working for your business, it might be time to find a solution and cut down on technology losses before it becomes a never-ending problem. By asking yourself a few key questions, you could save yourself a major headache:
Are you resisting finding a new solution because you’ve already invested time and money into another system?
The wrong platforms cost your business in time, inefficiencies and an inability to evolve and expand at a competitive rate.
Are you resisting finding a new solution because you don’t want to cause any more disruption to your business?
The long-term gain of having the right systems far outweighs the short-term pain. Additionally, poorly functioning systems are not only disruptive, but also an ongoing source of frustration and inefficiency for staff.
Are you resisting finding a new solution because of pride, or a concern that it makes you look like you lack confidence in your decision making?
A strong leader needs to be able to make hard strategic decisions and implement change for the benefit of the organisation, even if others are unable to see the bigger picture. As for your pride, let it go. People will thank you when they’re given the right tools to succeed in their work.