Why is it important to invest in technology and innovation?

The importance of technology for organizations is undeniable. Regardless of its size or area of ​​activity, it is impossible for a company to survive for a long time without the use of technology.

Investment in technology brings numerous benefits, such as:
– Cost reduction.
– Increased productivity.
– Process optimization.
– Improved communication.
– Agility in decision-making.

The FGV research highlighted above can lead us to conclude that there is considerable investment in the IT area. However, it is important that we look at the quality of these investments.

This is because, despite the numerous benefits of technological investment, many companies end up using obsolete technologies and this, on the contrary, will bring many losses.

Given this scenario, we can conclude that simply investing in technology is not enough. It is essential that this investment is accompanied by research, development, and innovation – always!

What are the impacts of a lack of innovation?

The rapid changes in the market do not support the technological lag. Thus, it is necessary that companies seek to be always up to date so as not to become obsolete.

Not investing in innovation will put the company at a disadvantage compared to the competition. This is because such a situation causes a drop in productivity, a decrease in digital security and can harm the work of the teams.

The problem goes even further, as obsolete technologies end up making work processes more onerous, causing much more time to be dedicated to operational activities rather than strategic ones.

Therefore, it is always important to analyze when the IT sector needs restructuring in order to keep technology as an ally of the business.

How to unite technology and innovation in the company?

Technological innovations have positive effects on the company, so it is imperative that they be encouraged.

Digital transformation is already a reality, and for that to happen, some attitudes are needed that transform internal behaviors and processes.

Thinking about it, we separate some essential tips for technology and innovation to go hand in hand and promote organizational success.

1) Lead for the innovation

The first step for technology and innovation to be united is the commitment of leaders.

It is necessary that the highest positions understand that investing in innovation and technology is not “wasted money”.

There is often a high demand for processes to be carried out more efficiently, however, one does not want to invest in more modern systems.

It is urgent that leaders manage to have a more strategic view that technological innovations bring countless benefits, including cost reduction.

2) Encourage a Culture of Innovation

For a company to achieve all the benefits of technology combined with innovation, it must be part of the internal culture.

The Culture of Innovation is a set of habits and values ​​that stimulate creativity in the organization. Through it, new ways of working are developed, in order to bring a better market positioning.

In a company that follows this culture, the famous phrase “it has always been done this way” has no place, as the entire organization is committed to proposing ideas that can improve internal and external processes.

To stimulate the Culture of Innovation:
– Define goals and objectives.
– Listen to the team.
– Promote challenges.
– Reward good ideas.
– Empower the team.
– Use tools like Benchmarking, Brainstorming, and Design Thinking.

3) Keep up with market trends

Knowing what’s new in the market when we talk about technology will be essential for it to become an ally in the business and in the purpose of innovation.

Every year trends emerge for the technology sector and it is even possible to follow some sites that are referenced in the area, in order to always keep up to date.

4) Invest in training

There is no point in stimulating innovation in the company and even investing in new technologies if the team is not trained.

Companies often invest heavily in hardware and software; however, they do not teach their employees how to use them. So they won’t do any good.

5) Choose good suppliers

Suppliers must be true business partners, as they are critical to the success of the IT area and the entire company. Also, good IT service providers are always up to date with the latest technologies, which facilitates the process of innovation in your business.

Therefore, always investigate the quality of the service provided or the product purchased and avoid using price as the only selection criterion.

It is also important to make sure of the support that will be provided, as well as the possibility of customization according to the company’s needs.

6) Enlist the support of a technology consultancy

A technology consultancy will be able to understand in detail all the factors that involve the company and propose the most appropriate solutions for the business.

A specialized strategic partner will provide much more peace of mind for the company, which will be able to count on its expertise and experience in the area.