Considering today’s tech-savvy age, a business can find itself in a lurch if it does not have much technological resources. In such a scenario, even making use of devices like printer or scanner may appear to be a herculean task. Although you may feel that investing too much in technology is useless and may not work well for you, but the fact that 21st century is literally running on technology can not be denied. In today’s time, a business card exchanged over a formal lunch does not really work in your favor. In today’s time, technology is needed to get things done, and done in an effective manner. Therefore, it goes without saying that investing in technology latest gadgets is a must. This not only boost the chances of better performance but also helps in making your business a financial powerhouse. However, if you are a thrift businessman who invests before analyzing all the pros and cons, here are some of the most important technology questions that you should ask.

1. Who Has Made the Technology?

Before buying a new technology(any hardware or software) for your business, it is important to find out who has made the technology. This is very important to know especially if your business is going to rely heavily on the technology. You must know the location of the technology developers. Besides this, you should also know things like- time period for which they have been around, financial capabilities, would they be available next year? Before finding a new technology for your business you should also research a lot about the developers.

2. Is There a Support For it? Who is Providing it?

With every technology, you should be prepared to face a situation when something may go wrong. Now that you know that things may sometime go awry, you must find out whether there is any technical support available for the technology and who provides it? You must know who to call and contact in case anything goes wrong. Also find out how quickly is the support available. If a problem occurs, a delay can increase your trouble manifolds. You must remember that every technology you use may need support in future. And you should know whom to contact.

3. What is Going to be the Total Cost?

When you purchase any new technology you generally go with your budget. But along with the cost of purchasing, you should also make a note of how much is it going to cost in terms of maintenance and support. Others costs like training, customization, installation etc should also be considered. Thus you must have a fair idea about the total cost of the technology. It would be better if you know how much is it going to cost you annually.

4. For How Long Has the Technology Been Around?

When it comes to purchasing a technical solution, you should make sure hat you are not buying something that has just been introduced in the market. You may end up discovering the hidden glitches in a new technology. Therefore, go for the tried and tested technologies. For when it comes to technology. ‘new’ and ‘reliable’ certainly do not go together.

5. Is it Going to Work With Your Other Systems?

Last but not the least, you must find out whether the new technology is going to work with your current systems? The new technology should be compatible with your current systems. Make sure that you can tie your new technology to other systems.

6. Who All are Using it?

Before you buy a new technology, ensure that it used widely. Try to get references and search for information on websites. You can also check forums and call other users. You can also search for the vendor on Google. It is better to get the things right before you make the final leap. The more you talk to people, the better idea you will have about the technology and its usage. If there are any conferences going around, attend them, ask questions and gain information.

7. Is it Going to Generate Profit for Your Business?

This is really very important. One of the most important reasons for a business’ existence is to generate maximum profit. Before you buy a technology, consider well whether it is going to increase your revenues or decrease your costs? If it would not then there is no point buying it. Buying a new technology should be a quantitative decision. You should well calculate how much profit you can derive from your investment.

8. What All Services are Required to Make it Work?

There is nothing better than a technology that starts working by simply pushing a button or clicking the mouse. How wonderful would it be if a technology has a one click set up! But in reality, this is a far cry. The fact is that every technology requires some or the other service. Otherwise tech geeks would go jobless. Therefore, you must find out how much time is it going to take to get you technology running right by taking services from others.

3 comments so far

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  1. Great article, its really a good guidance which every business owner should read this. Technology makes any business a tough task in starting but after that it shows good perception through it.

  2. [...] business a financial powerhouse. However, if you are a thrift businessman who…   More → Blog this! Bookmark on Delicious Recommend on Facebook Share on Linkedin Share via MySpace Share [...]

  3. Ninth one i would like to suggest is that just the overall trend of futuristic technological developments world wide and the future of it indeed. Nice article .. really must be appriciated.

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