The Tribune

Technology is inescapable. It permeates every aspect of our life. Impacting how we work, play and live, technology has created a revolution that will grow for as long as humans continue to advance and thrive in our various fields of endeavour.

As the days, months and years pass, technology continues to improve. What was once the latest and greatest gadget of yesterday has become today’s old news. The bottom line is that technology does not wait for you, and if your company is not keeping up with it, you will be left in the dust by your competitors.

Here are the dangers of failing to remain current and relevant in regard to technology:

Your business runs the risk of falling behind

Most people are on the Internet today. They access the Internet through their PCs, laptops, tablets and mobile devices. Most of us have Facebook pages, Twitter accounts, LinkedIn - and some even have a website.

There are more than three billion people on the Internet today. As a company, it is important to remain current on technology or face closing the shop. With more and more persons coming online every day, keeping ahead of technology is a necessity if your firm anticipates long-term stability and growth.

Your business might become irrelevant

Becoming irrelevant is considered a death sentence by any company’s standards. To stay relevant, especially when it comes to technology, means keeping up with what is trending, technology wise, in your industry. It is important to know the extent of your customer’s technological expertise and stay on pace with them. If your clients cannot find you, your products or your services because of technological deficiencies, your business is destined for failure.

Your business will succumb to many missed opportunities

If your company has not invested in the proper technology, there is a chance it may have missed opportunities to connect and interact with customers. Technology has allowed people and businesses to communicate with each other on multiple levels. Be it through e-mail, text, instant message and social media, there are many forums with which to communicate a message to clients. If a company is not keeping up with technology to stay in front of its clients, then it will continue to miss many more opportunities to close a sale.

When properly harnessing the latest and most effective technology, you are dramatically reducing the cost of doing business. By employing the right technology, not only will you increase productivity, but you will also be reducing processing fees and other significant overhead costs.

Your business without technology welcomes disorganisation

Advanced office systems, contact management and secure cloud servers are now commonplace to help businesses stay organised, while at the same time protecting a client’s confidential information. Technological innovation has been instrumental in helping companies streamline their processes and significantly reduce the need for paper files. Companies that resist progress and function in a disorganised fashion do not stand a chance of competing at the same level as other companies that embrace technology.

Your business runs the risk of slipping into obscurity

Technology will continue to advance, and customers will find new and exciting ways to use it. If a company continues to resist progress and decides not to keep up with technology, they are likely to fade away into obscurity.

Keeping up with the latest technology will also enhance your company’s success through staying relevant and competitive in the market. Remember, becoming more functional means getting more competitive.

• NB: Ian R. Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@coralwave.com.