Blog Layout

How to ride the wave of technological advancements

Feb 22, 2024

Technology is changing how we do business. But how do you start this digital transformation? We’ve highlighted five of the big challenges to plan for and overcome.

The rapid technological advancements we're seeing are a double-edged sword for many business owners, presenting both great opportunities and potential challenges. 


Adopting and integrating these new technologies is essential if you want to remain competitive, but it requires careful navigation and a clear strategic plan for your tech stack.


5 key steps for transforming your use of business tech


There are solutions for enhancing your bookkeeping, accounting, forecasting, inventory management, project management and a host of other key operational areas. These apps slot perfectly into a custom tech stack that can be tailored and integrated to meet the exact needs of both your industry and your individual business.


But if you’re at a loss as to where to start, it’s a good idea to step back and think in more detail about your digital strategy – and the best ways for you to grab the best tech opportunities. 


Here are five important steps to help you start your tech transformation:


- Assess your need for the right technologies – it’s important to think about the relevance and impact of emerging technologies on your business operations. Choose software solutions that meet a genuine need within your business model, and don’t be tempted to jump onto a tech bandwagon just because it’s ‘the latest thing’.


- Train and upskill your staff – you’ll only get the best from new software if your team knows how to use it. Invest in upskilling your employees so they feel comfortable with these new tools and can use them effectively. It’s about reducing any 'tech fear' that some employees may feel and showing them how it makes their job easier.


- Tighten your cybersecurity and reduce risk – the more software tools you use, the more data you’ll hold in the business. Because of this, it’s vital to protect your sensitive customer data and information from cyber threats. This means putting robust security measures in place and keeping up with all the latest security protocols.


- Scale up your IT infrastructure – it’s crucial to check that your proposed tech infrastructure can grow with the business. Any apps you use must be able to scale up as the business expands and volume and demand ramp up. With a properly thought-out tech stack, your systems can grow and scale with you as the business expands. 


- Focus on the customer experience (CX) – one of the biggest benefits of going digital is the positive impact this can have on your customer experience. Digital tools help you to personalise the customer journey, interact seamlessly with your customers and use highly targeted marketing and promotional activity to reach the right audience.


Most digital transformations don’t take place overnight. It takes time to switch each area of the business over to a software solution, and this can be an organic process as you find the right tools for the job. However, it does pay to have a sound strategy behind this transformation. 


We can help you review your planned tech strategy and advise you on the best apps and tools to combine into your ideal business tech stack.


01 May, 2024
Xero is chaning is product lineup and pricing in Australia from 1 July 2024.
Key ways to access funding for your business
24 Apr, 2024
Funding is essential for hitting your business goals – but do you know which routes to finance are the best for your company? We’ve got the lowdown on funding.
How to prepare your business for an audit | Haslam Consulting
24 Apr, 2024
For companies of a certain size, a regular audit is a mandatory requirement. Here’s how to get your finances ready for an audit, so it’s as stress-free as possible.
Move your online business to a bricks and mortar retail space
By Brock Haslam 24 Apr, 2024
Are you thinking about making the switch from online to a bricks-and-mortar store? We can help with some of the big questions to ask yourself before you open your retail space.
GoCardless is now available in QuickBooks
24 Apr, 2024
Say goodbye to chasing overdue invoices by automating your payment collections with GoCardless, now available within QuickBooks.
24 Apr, 2024
The ATO has recently embarked on an agressive debt collection strategy. We are here to help.
Tax planning helps you do more with your money
By Brock Haslam 13 Mar, 2024
Tax may be boring, but smart use of tax planning is a superb way to help your company do more with your money.
13 Mar, 2024
Take any of the ATO's 21 free small businees short courses.
Review your business expenses – and save | Haslam Accounting
By Brock Haslam 13 Mar, 2024
Need to cut your business expenses? We’ll review your current costs, find the expenses that could be cut, and will provide a proactive spend management programme to reduce your spending.
Meeting the environmental expectations of your customers
By Brock Haslam 13 Mar, 2024
Consumers are becoming increasingly green in their purchasing habits. So, we’ve pulled out five ways to make your business more green, sustainable, and eco-friendly.
More Posts
Share by: