Information Technology (IT) has a vital role in business success. By investing in the right equipment and technology, a small business operator can grow productivity and reach new markets.
Learning about the most up-to-date information technology is important. All managers should consider reading business magazines, attending exhibitions, training courses and presentation, and network with other business people.
Planning for upgrading and purchasing or leasing new computer equipment is also important. Understand the lifecycle of technology and build replacement strategies into the business plan.
Selecting hardware and software should be based on:
- application and use
- size of business with consideration for growth plans
- customer needs and preferences
- infrastructure already in place
- pre-determined budget.
Remember to take running costs like maintenance, leasing terms and the cost of consumables into account.
Contact your local Business Advisory Service to find out more about business technology management.