MANY smaller companies would not usually have sufficient resources to exploit all the possible technology solutions available to improve business performance. To overcome this problem, these enterprises have to undergo a process of technology transformation, says Tan Shong Ye, partner, IT Risk Assurance Leader at PwC Singapore.
Mr Tan proposes three key steps that SMEs can undertake to facilitate such a transformation:
Identify someone who is passionate about using technology to transform the business, and empower him with the attention, resources and potential reward to get things done. This executive does not necessarily have to be from the IT team, thus enabling him to see things from a business angle.
Identify quick wins
The key is to identify one or two quick wins; some impactful initiative that can be achieved within six months. Examples of this include better analytics to improve processes or customer growth, or improving experience with customers through digital technology such as Internet of Things, mobile devices or cloud computing.
Sustain the transformation
Once the company has achieved the quick wins in technology projects, it needs to work towards making these changes permanent by sustaining the innovative culture of the organisation. The journey will be a successful one if the use of technology and the culture of constant improvement are embedded in the organisation and becomes a way of life.