Struggling to separate trends from value? Here’s how to choose the right tech to boost business

Struggling to separate trends from value? Here’s how to choose the right tech to boost business

"Technology moves so fast that today’s top-trending app could become irrelevant tomorrow."

Technology moves so fast that today’s top-trending app could become irrelevant tomorrow.

As such, it can be difficult to know which technology platforms are most likely to add long-lasting value meaning companies must learn the difference to avoid losing money on technology investments.

“The tech industry is rich with examples of trends that became popular in one sector and later morphed into something even bigger,” says Matt Goss, managing director A/NZ, Concur.

“For example, Cloud services started out as a storage solution for large enterprises, but now enable the entire mobile app ecosystem.

“Organisations must constantly think about how technology investments will benefit their business, employees and customers and, most importantly, for how long.”

Consequently, Concur advises businesses to ask the following questions when deciding which technologies to put in place:

1) Are we sustainable?

According to Goss, sustainability isn’t just a trend anymore, it’s a mandate.

“With laws and regulations to keep businesses accountable for their environmental impact, nearly every company has a sustainability protocol in place,” he adds.

However, with a movement this big, Goss believes it’s always smart to stay one step ahead.

“What sorts of new customers could you attract with a strong sustainability story?” he adds. “Technology that helps make your company more ‘green’ is worth looking into.”

2) Are we putting enough emphasis on design?

“No matter what product or service you offer, design plays a huge part in how well it works,” Goss adds. “From your website to physical products, a positive user experience is crucial to your success.”

For Goss, thoughtful, people-centred design could be the missing link between a sturdy product that gets ignored and one that customers can’t live without.

“Design technology will always be useful for your business,” he adds.

3) What are your peers doing?

Goss believes that businesses must also always keep an eye on what technology competitors are using, because they just might be onto something exciting.

“Companies within your industry are probably tapping into new trends, so you’ll have a front-row seat to see what works, and what doesn’t,” he adds.

“Watch your competitors closely, and don’t be afraid to try what they’re doing if it has been successful. Of course, you can’t duplicate their work, but it could ignite your thinking in new ways.”

For Goss, in a business world that’s constantly evolving, organisations have to use every resource available to keep an edge.

“Taking a few thoughtfully-calculated risks could be a necessary step for your organisation,” he adds. “Focus on what matters to your business and then follow the path that most closely aligns with your core values.”

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ARN Innovation Awards 2023

Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia.

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