Choosing the right technology for your business makes life easier and increases productivity. It keeps things organized and promises a competitive edge. It can be utilized for almost any aspect of the business from credit card processing to managing merchant accounts. If looking to improve profitability, customer loyalty, managing manpower and more, the proficient use of technology goes a long way.
Taking the plunge and making effective decisions about technological solutions in connection with business requirements can be an intimidating task, especially if one isn’t tech savvy. But once done, and done well, expect dramatic business growth and success.
The first step is to list business needs and what you need technology to do for you. If there is some form of tech already in place, how does it currently provide services to day to day operations? Look at needs, assessing gaps in the infrastructure, what’s good and bad about current tech and where improvements are needed.
Use this information to establish the criteria for new technology or upgrades. Use the list of business needs to determine the foundation for any aspects or qualities the solution must provide. The ideal is to get a firm comprehension of what’s important to finding the right technology. In that search, try and look beyond the familiar. Work with a trusted vendor or agent that will offer the best solutions even if you’re not necessarily competent in them. Going with the market leader isn’t always the best choice.
When choosing technology, take a focused look at support and training. There may be installation, upgrading, troubleshooting and security to consider, especially if you don’t have an IT professional on staff. Plus, the more complex the solution, the more important it is to have staff that can use it. The training process and maintaining that training should be included in negotiations and budget.
Last, as anything can happen, have a backup plan. The impact new technology may have on your merchant accounts should not be underestimated. Have a business impact analysis to ascertain potential consequences and disruptions of operations like credit card processing.