3 top tips to achieve more with the business tech you already have
11th September 2023
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72% of organisations say old or outdated
tech impacts their ability to operate efficiently.
This is according to our latest report, ‘Tech untapped’, which surveyed over 1,200 public and private sector decision-makers to understand how best to unlock organisational efficiencies through technology.
And while investment in new technology is the ideal fix, the current economic situation means this won’t be possible for all this year.
37% of those we surveyed cited rising operational costs as their most concerning internal challenge for 2023.
For those currently unable to invest, we’re sharing our top tips to help you go further with your existing tech, so your organisation can thrive with the same or even fewer resources.
1. Master the art of collaboration
“Using technology to its full extent doesn’t always need to be big, sweeping changes. There are little steps we can take to foster interest in tech. Once we do that, people will always go looking to learn more.”
Paula Eavis, Director of Human Resources at Bunzl UK
Increasing the efficiency of existing technology in your business is about small steps.
The best place to start is with a focus on collaboration and communication. No matter how impressive your technology is, you’ll only reach the upper limits of its potential with the help of the people using it: your employees.
Training your teams in the use of tech and tools is a great way to unlock their potential. Speak with your partners – often they can provide expertise and advice that you may not yet be aware of.
2. Streamline your processes
“We don't necessarily need to reduce the cost, but we need to get more value from what we have and discover the benefits of the technology that we've already got. How that can help the business to grow without financially having to grow the investment.”
Graham Walsh, Medical Director Yorkshire, and Humber Academic Health Science Network
There is such a thing as too many cooks in the kitchen. The same goes for your business’s tech and software.
An overabundance of processes and systems can reduce your team’s efficiency and lead to a decline in employee well-being.
36% of our respondents said ‘ensuring employee time is productive and efficient’ is their most important operational priority. And the best way to do this is to remove any unnecessary obstacles standing in their way.
Rather than investing more money in technology, consider rejigging your investments. Many decision-makers are switching to unified communications to reduce the number of channels employees are asked to keep track of when working and streamline redundant technologies and subscriptions.
Your processes also stretch to who you involve in decision-making. You should be consulting your IT function on a regular basis to understand their needs and whether the best solutions are already in place.
59% of our respondents speak to their IT function at least once a week and 78% rely on their IT and telecoms provider for consultancy to get more value from the tech they have.
3. Use your data for insights and cost savings
“You should have a company that is IT-led. No matter what business you’re in, you’re technology-led. If tech isn’t at your forefront, you’re not going to do well as a company.”
Joe Di Fede, IT Director, ESG
Your current tech is full of useful data and insights you might not be making the most of.
It’s difficult to accurately label the cost of poor data quality, but Gartner estimates it costs organisations an average of £10 million per year.
Focusing on your data and gleaning useful insights for your organisation won’t just help you make the most of your existing tech – it will free up additional capital to invest in new systems.
Make sure you’re maintaining an appropriate and optimised database system to manage your data. Used together with the right analysis, you’ll have access to a live stream of data feedback to provide information you can use to make up-to-date decisions at a low cost.
If you’re unsure of where to begin, speak to your technology partner and use their expertise and experience to help you find a better way of doing things.
Ask your partners to help implement these tips
At Virgin Media O2 Business, we offer organisations like yours a free tech consultation to help you make the most of your legacy technology and get more value out of any new tech investment.
From affordable finance plans to cost-saving analysis, our solutions for enterprise and public sector organisations come with plenty of ways to make your technology and your budget go further.
And for small and medium businesses, you can get even more support and value with packaged solutions based on your needs. To learn more about our Grow, Innovate, and Flex bundles, visit our web page.
Our dedicated account teams will be there for ongoing support and make sure you have everything you need to make the most of your legacy technology.
Read the full ‘Tech untapped’ report to find out how your organisation can unlock business efficiencies through tech.