FORBES: 10 Critical Aspects To Consider Before Adopting A New Technology
New developments are always just on the cusp of being released, bringing with them a host of potential changes and improvements to how companies do business. For companies looking to stay ahead of the rest or be the first adopters of potentially game-changing systems, staying up-to-date with what new tech can offer can seem crucial.
Yet even early adopters know that just because technology becomes available does not necessarily mean that it is the right choice for a business: Different systems solve different problems. To help you decide if a new technology is right for your company, 10 members of Forbes Technology Council share some of the crucial aspects you should consider before deciding to invest your time and resources into a new technology. Here's what they said:
1. Seek Greater Clarity
Observability is a crucial aspect for a new technology. It should, in easy-to-use ways, provide greater clarity on performance status, process flow and interface health. Such technologies empower actions and decisions to improve on multiple fronts. A technology that promises to improve outcomes but that operates as a black box is likely a net negative to an organization's overall capability. - Charles Stucki, Bayware
2. Evaluate Options
We consider how the new technology will help us to meet our goals and then we evaluate whether the technology is best for our organization. We then put together the requirements: the specs, a plan, an evaluation and so forth. - Andreas Schneider, EnOcean
3. Look At The Return On Investment
The return on investment is the most crucial thing to look at. Adopting new technology is an arduous process that requires serious time dedication from the development team. Understanding the cost benefits offered by the technology and how it affects the company’s bottom line not only justifies the effort put in, but more importantly, puts concrete numbers to determine the return on investment as well. - Mihir Shinde, B&H Photo
4. Consider Cybersecurity
Cybersecurity and inside threat are the key important considerations with every new technology implementation. Not less important is the ability to maintain and operate new tech in the environment of corporate America. - Guy Caspi, Deep Instinct
5. Look To Getting Things Done
The function of technology within an organization is to find a smarter way of getting things done. I encourage my team to make time each week to keep abreast of developments so that when a business need arrives, they are equipped to make a real case for a new technology. Innovation should be driven by a use case, not the other way around. - William Francis, ENO8
6. Look At Long-Term Competitive Advantage
With daily advancements in technology, it is difficult to determine the right time to adopt new technology. It is crucial to look beyond the buzzwords and marketing and make sure that the new technology actually adds value both in the near and long-term horizon. It often takes time to incorporate new technology into mature organizations, so keep in mind the long-term competitive advantage of the technology. - Tania Ahuja, Nobias
7. Understand The Customer Better
One of the main thoughts to apply or use technology is to understand the customer requirements and needs adequately. This helps to understand any gap in the process that is implemented, which in turn helps the adoption of the right technology for the right outcome. - Satish Appalakutty, Vistalytics
8. Visualize Transformational Impact
Companies must consider the business model impact of adoption of new tech like cloud, AI, blockchain, etc. While traditional tech benefits like cost savings and productivity can be expected from tech such as AI and virtualization, new tech also stands to fundamentally change sales, marketing, service and operating models, and so must be seen for transformational impact on the company's core business. - Michael Gurau,Kaiser Associates
9. Assess The Culture Of The Vendor
Assuming that you have multiple choices, and all are cost-effective, provide tangible benefits and are well-designed solutions, decide based on the culture of the vendor. Seek a culture of innovation, customer service and continuous improvement. Seek a vendor that rejoices in small wins and has a history of continuous delivery. Find a partner that is vitally interested in your success. - Dave Bellando, 1st Global Research and Consulting
10. Ask Two Questions
We all like shiny new things that promise to help our businesses grow, increase efficiency or make employees happier. To determine if its right for you, two questions need to be asked. How does this help me protect and grow revenue? How does implementing this tech help me reduce complexity and reduce investment in my technology stack? - Stanley Lowe, Zscaler Inc.
This article has previously been featured on Forbes