The profit potential from implementing technology should include considerations beyond financial gain. Technology adoption is the driving force that can provide more time, safer and healthier environments, reduction in risk, appealing employment, and overall, more accurate and reliable services.
As you identify the technology you want to use, consider how it improves work performance. A recent Study by McKinsey claims 40% of workers spend at least a quarter of their work week on manual, repetitive tasks. How many of those processes could be automated through a digital solution? How will that make us feel more empowered to do more profitable actions at our job every day?
Cash is king. How fast can you send reports to your clients? Typically, firms without digitally connected workflows average 5-10 day turnarounds. After adopting and maximizing technology usage, firms experience a reduction in turnaround time to 24-hours or less.
The recent graduates joining the workforce now lived through the COVID-19 pandemic. They fully understand and appreciate what remote work is like because they’ve lived it for several years now. Depending on the job itself, many of them are expecting or anticipating some amount of remote work. Thus, when you’ve adopted a digital solution, now you can build a community of employees that can work together to drive value for your organization.
When we talk about competitive advantages, ask yourself, “Is this still a competitive advantage or is it table stakes?” Most technology vendor partners would agree the cost of doing business today is to move into digital technology.
Learn how cmt software can not only drive additional value to your clients, but also help you become more profitable, and empower your employees in our new guide. In the guide we explore how technology can unlock growth through flexible and efficient workflows, and we include a BONUS worksheet to help you audit where your firm stands today.