Productivity means almost everything. When a business can produce and accomplish more with the same or fewer number of employees, profitability skyrockets as competitiveness soars. Many firms have learned to trust evolving technology as a way of raising productivity, but others have shown reluctance. Time, however, has proven that technology adoption gives companies the advantages they need to operate in the modern global marketplace. The following tips will help you to raise technology by adapting to technology. David Milberg is an NYC investor.

1. Friday, April 7, 2017
Why Adapting to Technology is the Key to Raising Productivity
Productivity means almost everything. When a business can produce and accomplish more with
the same or fewer number of employees, profitability skyrockets as competitiveness soars. Many
firms have learned to trust evolving technology as a way of raising productivity, but others have
shown reluctance. Time, however, has proven that technology adoption gives companies the
advantages they need to operate in the modern global marketplace. The following tips will help
you to raise technology by adapting to technology.
Overcoming the fear
Cost and obsolescence represent two of the biggest fears that keep companies from adopting
evolving technology. New technologies often cost a premium at their onset and then become less
expensive as they diffuse throughout the marketplace. Companies naturally balk at paying such a
high price for uncertain results. Still, if they hope to boost productivity and surpass their peers,
businesses must take some calculated risks.
Companies fear that their investment in evolving technologies could go to waste if the
technologies they choose fail to gain traction in their industry and market. On the flip side,
however, firms cannot afford to overlook the valuable tools that their competitors embrace.
Overcome your fear of changing technology by considering it as a cost of doing business. Even
if some technologies fail, others can supply you with a fantastic return on investment.
Boosting productivity
One of the biggest attractions of evolving technologies is the opportunity to accomplish more in
less time with fewer human resources. Automation already speeds the processing of incoming
phone calls and email messages in contact center environments. Technology has also improved
back-office operations by improving the speed and accuracy of billing and providing self-service
customer support options. Similarly, technology facilitates collaboration and file sharing via
cloud-based applications and robotics have replaced numerous physical tasks.
Technology adoption can also indirectly improve organizational productivity. The cloud, for
example, enables you to expand your pool of hiring candidates, so you can access the talent

2. needed to improve the quality of your labor force. Technology also can unify remote, mobile,
hybrid and on-premises workers into coherent teams that eliminate redundancy and improve
collaboration. By leveraging technology, you also can improve the security and functionality of
your data networks.
Adapting to technology
Some companies become wary of new technology when they invest in it and fail to properly use
it. As a result, they hesitate to buy into future technologies, hoping to avoid wasting time and
money. Adapting to technology requires that you properly train your team with the use of cutting
edge tools. You can further improve your results by involving your team in the process of
selecting the technology products that you buy. When everyone understands the capabilities of
new technology and how to use it, you can experience fantastic productivity gains.
Adapting to technology is the key to raising productivity because it opens doors to improvements
in the quality and quantity of work accomplished by your team. Although new technology might
at first seem intimidating, you can create vital competitive advantages by choosing the best tools
for your firm and then equipping your labor force with the training and education they need to
properly use it.
David Milberg is an NYC investor.