Most SMEs have the same fundamental problem when it comes to IT and it means they’re stuck in a catch 22.
Owners, CEOs and directors are typically experts in their field, but know next to nothing about IT and regard it as a cost to the business rather than a profit generating asset.
So where does responsibility for IT end up? It’s either managed by the finance team or individual departments heads. This leads to a fragmented IT landscape with low investment, poor integration and maintenance, and guarantees that the internal team will be nowhere near as efficient as they could be.
They have a website and a social media presence, and while it may look good and perform fairly well, it’s not properly integrated with their back-office systems leaving their customers disengaged. They can place an order, but that’s about as much contact as they have beyond an occasional email or phone call.
Owners, CEOs and directors have heard about digital transformation, and would like to leverage the opportunities that modern technology presents, perhaps developing an app to improve customer engagement. But, whenever they spend money on their IT, they never seem to get a return on their investment.
This confirms their belief that IT is a cost.
And yet, with just a little education and know how, they could invest in IT assets that would easily pay for themselves within a year or two. They’d have a happier, more efficient team, more engaged clients with an increased customer lifetime value, and their profit per person would be greatly improved.
They can remain stuck in their catch 22 or, with little more than a change of perspective and the appropriate guidance, they can turn their vicious circle in to a virtuous one.
Today’s Top Takeaway
Break the cycle and make your vicious circles virtuous
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