Often we come across tech news that amazes us and in the blink of an eye, it’s implemented.
New technology can push the frontiers of what’s possible and imaginable. A classic example is Microsoft’s continuous update cycle for Dynamics 365 for Finance & Operations because it allows businesses to simplify their operations and free up resources to add value.
Each update is backward compatible, meaning your apps and customization will continue to work post-update. As a result, your financial process is enhanced—you can close books faster, deliver robust reporting and modernize your supply chain.
Choosing technology that caters to your needs is critical. Businesses seek predictable updates with continuous deployment to access data anywhere, anytime. So, how can you drive your business forward on the wings of new technological developments? Here are four steps to get you started.
1. Find out what technology your business needs
Define an IT strategy that evaluates your technological needs—both now and in the future. This will help you to determine the type of technologies your business needs to run efficiently. Be proactive to stay aligned with the latest trends in tech and have a strong IT team in place to analyze these technologies as you move forward.
ERP systems—especially cloud-based solutions—are a prime example of how companies can use technology to reach operational excellence. These integrations are successful when you take the time to identify your needs within your business model. For instance, Microsoft Azure’s “intelligent cloud” gives you integrated technologies to easily connect with a customer or supplier. You can capture and process data at any scale, drive innovation and improve customer relationships.
2. Evaluate your current technology scenario
Once you have defined your IT strategy it’s important to evaluate your current situation to plan a successful execution. You can look at your existing data to figure out important considerations, such as a timeline.
Can my existing resources help evolve my business?
How can I optimize my projects, be more efficient and save costs?
How can I use available resources to move my business in the right direction?
Should I upgrade my technology?
A good place to start is by evaluating how responsive your system is. This is the catalyst for enhanced visibility into orders and tracking, ultimately improving customer engagement.
3. Identify and map your core business responsibilities
Ideally, businesses will use evolving technologies to prioritize their operational goals. This requires establishing and mapping roles and responsibilities clearly. For example, it should be clear who the change managers, release managers, service delivery managers, incident managers and issue managers are, and what type of responsibility they have.
This will help your business achieve the maximum return on your technological investment because it will help you stay organized and ensure all available features are used.
4. Use resources efficiently
Top businesses optimize their time and resources. Digital agility is often their secret weapon. Technology and automation can add value and improve resource efficiency.
Let’s go back to the Microsoft example where automatic updates are used to ensure that your applications are up-to-date. Automating upgrades can help revive your internal IT resources, freeing up their time to focus on additional technological developments. That said, to really reap the rewards of automated updates, you might want to outsource operations and upgrades to a skilled team of professionals.
Consider the use of big data for predictive analytics and insights—data is everywhere and consolidating and connecting this data to your organization is key to visibility and efficient business practices. Gain visibility and control across all sites and warehouses for proactive responses to issues, and streamline your procurement process.
Today’s ERP systems are designed to enhance your customer experience and overhaul entire processes through the lens of digital transformation and new technology trends. This can create a comprehensive strategy that leads to better ROI and achieve the desired results in your business.
To modernize your business logistics and deliver timely customer response by leveraging the new developments in technology, your business needs a robust application management service (AMS). Interested in learning more about how to maximize your existing technology with an efficient AMS partner? Download our free eBook on the fundamental principles of application management services.