How do we implement tech acceleration and avoid the three common tech acceleration mistakes? As a business executive, you often face the task of keeping up with current technology trends to boost productivity, lower expenses, strengthen your brand value, enable new collaboration and maximize profitability. If you want to use new technology products and solutions to your advantage, follow the path of well-planned smart tech acceleration.
While tech acceleration is about fast implementations that fix short-term issues and meet immediate needs, smart tech acceleration focuses on implementing technology that supports an organization’s long-term goals and vision. It’s critical to remember that if your tech acceleration initiatives aren’t well-planned, they may cause you to fall behind or even prevent you from achieving your ultimate goal.
Before taking the first step toward tech acceleration, consider three major mistakes to avoid:
1. Rapid advancements or short-term goals
This is the most common mistake that companies make. Short-sighted business executives tend to put the company’s long-term vision on the back burner for quick results. They do this by making hasty decisions that act as a band-aid. Although these moves may result in early gains, they often hurt the company’s future.
What’s more concerning is that many company leaders nowadays prioritize short-term gains. In the long run, however, choosing the easy way out and spending without consideration for the future proves to be wasteful. That’s why it is always advisable to have the patience to create solid foundations and devote the time and work necessary to reap the benefits of compound growth.
2. Costs rather than long-term value
Another common mistake many executives make is that they prefer purchasing less expensive products or solutions simply because they suit their budget better. However, this often only meets an immediate need and doesn’t support the organization’s mission.
We see this in several government undertakings. Road infrastructure projects are frequently awarded to the lowest qualified bidder. However, since you get the quality and commitment you pay for, projects can take years to complete and cost two to three times more than the initial estimate.
3. Deploying products that don’t integrate
Integrating solutions can be a long-term asset for your organization because they consolidate data. However, some executives overlook this, resulting in a mix of disparate technologies that don’t work together. Lack of integration can be a liability for an organization in the long run. It can slow down or halt projects until a sufficient integrated infrastructure is in place.
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