The importance of technology in modern firms

Investing in technology can be costly, both in terms of finance and time, and with professional services firms increasingly expected to do more with less, it’s easy to understand why some choose not to improve. But this is a false economy as without the technology required in today’s marketplace, firms just won’t be able to keep up with their more innovative competitors.

Cloud technology creates a level playing field for smaller firms

Regardless of the size of your firm, technology can be an enabler to success. From improving the service you deliver to enhancing your security standing, technology can be used to create a competitive advantage.

In fact, according to a report by the Solicitors Regulation Authority (SRA) and Legal Services Board “new technology has driven higher profitability and often new ways of working”. For example, “IT-based document storage and case management systems have enabled faster, value-for-money services to clients, and released time for personal consultations”.

Take the hosted desktop for example. With secure, fast and reliable access on any internet-enabled device, hosted desktop services are helping firms get ready for the mobile working revolution; providing access to business-critical information, in real-time, from multiple data sources. So employees can do their jobs wherever and whenever they are.

But it doesn’t stop there. By improving access to information and by bringing together processes and data, the hosted desktop also delivers enhanced management information which your firm can turn into actionable insights; optimising the performance of each element of your operation and capitalising on new revenue streams.

The truth is, even the most straightforward technology – when used right – can give your firm a significant advantage over your competitors, and ensure you remain profitable and competitive in the long term. Moreover, with 25 billion things forecasted to be connected to the internet by 2020, and 163 zettabytes worth of data expected to be collected into devices, storage systems, and data centres, access and use of such data will lead to cost savings, new revenue streams, and enhanced productivity. What this means is that any firm that fails to adapt to our new cloud-based reality is unlikely to succeed in the long term.

So the questions shouldn’t be “can you afford to invest in technology”, but “can you afford not to?”

However, when it comes to investing in new technology, cost is always going to be an issue. But, access to technology doesn’t have to come with a high price tag. For example, with the hosted desktop, your firm no longer has to worry about buying, running, and maintaining its own server. Instead, you get access to the best IT, for one affordable monthly fee. In fact, your firm pays merely for what it needs on a per-user basis, and scales up, or down on demand. So, the total cost of ownership is significantly reduced.

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