Advantages of New Technology in the Workplace

Technology is always evolving, with new software constantly emerging to solve problems and inefficiencies that companies may not even be aware of yet. Business leaders can sometimes feel overwhelmed in the face of so much change – there’s often a desire to stick with current technology and processes rather than rocking the boat.

But the status quo threatens innovation, and stagnant companies put themselves in danger of failure. By investing in cutting-edge technology, you’re investing in growth. And you’re empowering employees to keep up, and get ahead, in a fast-paced world.

Here are five areas new technology brings advantages to the workplace:

1. Speed, Efficiency, and Agility

The goal for any new office technology is to speed up workflow processes, giving your employees the ultimate resource – more time – to focus on the important work.

Businesses best their competitors by being able to respond to data, adapt to changes, and make informed decisions quickly – new technology and analytics give them the tools to do so. Your business simply can’t afford to move at a 1998 or 2008 pace in 2018.

2. Storage and Sharing

Employees should never have to waste time looking for files, documents or information, yet studies show that nearly 20% of the workweek is wasted searching for information – a major inefficiency that costs businesses money. Technology that streamlines information storage and sharing is vital not only for efficiency, but also for security.

Outdated technology puts your company’s confidential information at risk, and sets you up for an expensive data breach – considering that the average cost of a data breach is $3.62 million.

Technology that streamlines information storage and sharing is vital for security. Click To Tweet

3. Mobility and Remote Connectivity

With the growth of the freelancer economy – freelancers are expected to become the majority of the U.S. workforce by 2027 – and many companies adopting flexible work-from-anywhere policies, employees need to be able to access technology systems remotely. Implementing the newest technology allows organizations to connect with the best talent, all over the world, instantly.

4. Automation

Another advantage of new technology is that it allows companies to automate functions that previously required employees. Tasks like data entry and analytics, bookkeeping, and contact management can be partially or completely automated, which allows businesses to work more efficiently without the risk of human error.

Those cost savings can be invested in human capital that show the biggest ROI – higher-level employees that innovate and drive the company forward.

5. Communication

There’s a reason that computers replaced typewriters, emails replaced paper mail and faxes, Slack has replaced (some) emails: Communication is king. Companies are constantly looking to improve and accelerate communication, and new technology is built with that need in mind.

Investing in new systems will help to streamline both internal and external communication – with clients and vendors – so that everyone is always in the loop.

There’s a reason that computers replaced typewriters, emails replaced paper mail and faxes. Click To Tweet

While rolling out new hardware or software can present challenges – especially for detractors who are resistant to new processes – there are techniques for successfully implementing new technology in the workplace. Ultimately, the pros of new technology outweigh the cons, and the benefits show up in the bottom line.