8 Reasons Every Company Is Now a Tech Company

Whether you sell shoes or run an accounting firm, you need to use technology in some way to operate. Today's businesses no longer just sell their own goods and services; they must also master various types of digital tools.  

These include software, payment systems, computers, Wi-Fi networks, mobile devices, and more. Businesses also need to protect their devices and networks. If this technology fails, it could have a significant impact on the business.  

98% of businesses surveyed say that a single hour of IT downtime costs more than $100,000. Dependence on technology means every business is now a technology company.  

This is the case no matter what products you sell or services you provide. Let's discuss why exactly this is the case across the world today.  

What makes technology the root of every business?

1. Technology is a critical part of business

Even farmers use technology to check commodity prices, sell livestock, and keep their books. Most businesses couldn't function without their software or databases filled with important information.  

IT downtime is so devastating for this very reason. Remember the breaches that affected global meat producers JBS and Colonial Pipeline? These companies had to shut down operations due to ransomware attacks.  

They both paid the ransom to their attackers so they could resume operations. Without the technology that has become an integral part of our daily lives, many businesses would close.  

2. Customers expect a great digital experience

Customer experience topped the list in a survey of companies' top priorities for the next five years. Nearly 46% of respondents said it was at the top of their list. If a customer has just one bad experience with your business, they'll likely go elsewhere. In a digital world, these experiences are often:  

• Navigate your website
• Payment experience
• Ease of making appointments
• Shipping Notice
• Usefulness of online chat
• Customer Support Response Time
• Ability to contact your company via social media

To meet consumer expectations in 2023 and beyond, you need to leverage technology. From your website to checkout, people expect a seamless digital flow.  

3. Employees need devices to maximize their productivity

How can employees work productively without using a computer, tablet, or mobile device? These devices allow staff to stay connected to each other and to your customer data. Devices enable communication and account for the majority of work done in offices. If they don't work well, business productivity suffers.  

4. AI and automation help businesses stay competitive

AI and automation help organizations scale faster. AI can personalize a consumer's shopping experience. Automation can help sales teams increase sales by 30% and improve conversions by over 200%.  

To remain competitive, businesses must integrate technology tools with AI and automation capabilities. This means understanding the best ways to use these tools. Additionally, integrate them well with existing solutions.  

5. Information is generated at a rapid pace

Businesses are generating information digitally at a dizzying pace. Can you imagine what it would be like if you had to go back to all paper files? You would need a separate building just for all the filing cabinets.  

Client files, documents, and records are now largely digitized. Keeping track of all this information and making it searchable requires technological skills.  

6. Vendors/Suppliers Abandon Legacy Systems

Think about the vendors you use to run your business. Could you interact with any of them only offline? No email, no digital documents? In most cases, the answer is no.

The companies you rely on for your business are also "technology companies" in the same way. Most will leave behind legacy systems like fax machines and paper documents. Therefore, you must use digital means to interact with them.  

7. It is difficult to develop without technological innovation

People are limited by what they can do mentally and physically in a day. Computers and technology have exponentially increased people's time in a day. Computers do much of the processing and manual work.  

The cloud is often touted as a way to level the playing field for small businesses. It allows SMEs to leverage technology and be more affordable.  

It's difficult to continue growing your business without the smart use of digital tools. This includes reviewing your technology infrastructure and exploring innovations on the horizon.  

8. Business continuity needs of businesses

Business continuity is about keeping your business running despite crisis events. A natural disaster could seriously affect a building and everything in it. But if you store your data in the cloud and use cloud software, your business can still function.  

Businesses that don't use backup systems are at significant risk. Technology solutions create the ability to continue operating from anywhere, increasing business resilience.  

What does your innovation roadmap look like?

Using technology safely and to its fullest potential can be a full-time job. Contact us today; we can help take the burden off your shoulders.    

About Nexxo

Nexxo Computer Solutions specializes in providing IT and technology services to Quebec businesses. Its mission is to offer Quebec companies IT services tailored to their needs. Acting as an external IT department, it handles all of a company's IT tasks, allowing it to focus on its business activities. It achieves this by collaborating closely with its clients and putting their interests at the center of its concerns.