The Technology Gap
Business Record Staff Apr 1, 2021 | 3:48 pm
2 min read time358 wordsBusiness Insights Blog, The Internet of Things
BY DENNY FISHER, Chief Client Experience Officer, ACS
The “triple threat” in business was long regarded as someone who had finance, management and operations experience. That definition has become more fluid in recent years. Many might argue that the advancements and integration of technology into every facet of business has brought technology into the golden triangle of the triple threat.
Leaders must not only be able to manage finances and people, but operations are now tightly entangled in technology. Technology helps us gather data and gain better insights for decision-making. Technology allows us to collaborate across employees, clients and vendors. Technology helps protect our most vital assets from damage, theft or manipulation.
The rise in cyberattacks and the prolific impact they have on an organization now means that CEOs and board members are accountable and responsible for protecting consumer information. Many organizations have long swept their internal technology departments to the side, viewing them as a cost center rather than a transformative center. For these organizations, it has led to a technology gap — a gap in understanding the value of technology and its impact on an organization.
At the rise of the pandemic, the rush to remote workforce solutions and the complete abolishment of normal business practices for many industries created a separation between companies that had invested in technology and those that had not. Those whose leadership had embraced technology were either already practicing many “pandemic-era” techniques or they were able to quickly pivot and lead their companies through the quagmire with technology leading the way.
Examples of this are numerous:
- Restaurants with online ordering and delivery.
- Casinos with online sports betting.
- Businesses with work-from-home capabilities.
- Medical facilities equipped with Telehealth practices.
- Organizations with robust data and analytics, enabling them to seek out new markets.
The evidence is clear; technology is no longer the nerdy, underutilized department in the basement. It is the sail that will guide your organization to the next destination.
So the question becomes: When you look at the leaders and practices in your organization, do you have a technology gap?
|Denny Fisher, Chief Client Experience Officer, ACS