Your systems are old, but to your employees (and maybe even existing customers), they’re familiar, a beloved pair of well-worn jeans. Why endure the heartache and cost of upgrading them?
Revitalizing IT infrastructure becomes less negotiable with every passing year, especially in fast-changing industries. According to the World Economic Forum, digital transformation has the potential to create $100 trillion in “combined value” by 2025. Transforming your company’s digital culture may seem painful, but that isn’t the kind of value you can ignore.
Digital transformation encompasses a variety of positive long-term changes—changes that can save money and reduce risk.
The Trials of Aging Technology
Relying on outdated tech can introduce risks to any industry. As an example, let’s look at the issues that can arise at an insurance company that resists the transition to new technology:
- Low Agility: New tech is fast and old tech is slow. Without the power of cloud computing, a business might struggle to rapidly provision computer resources on a large scale.
- Lax Security: Out-of-date hardware and software may open vulnerabilities to cyberattacks, and any data loss will be more difficult to recover.
- Limited Collaboration: Older communication gear may leave your team playing telephone, increasing human errors and delaying approval processes.
Without staying current on these advances, problems can pile up, leaving you behind your competitors regardless of the capabilities of your team and the quality of your business model.
Staying Ahead of the Future
Some insurance companies have already caught on and begun investing in emerging technologies. Look at Lemonade, a property and casualty insurance specialist that couples a uniquely transparent business model with iOS and Android integration to let customers choose a plan in under 90 seconds.
That’s one type of innovation happening today. However, true innovation is about looking towards tomorrow. Here are two examples of what’s on the horizon:
- Artificial Intelligence: Advancements in AI may soon create learning machines capable of optimizing all channels within your company and ensuring customers have a consistent experience with your voice thanks to enhanced chatbots and external interfaces.
- Blockchain: When it comes to alternative currencies, Blockchain is still one of the most exciting and one of the least understood. But this technology could change banking and business as we know it, enabling new ways to manage assets and money.
The Real Cost of a New Computer
With all these potential benefits, why would anyone fight digital transformation? Cost. You might assume the largest hurdle is paying for all those new IT resources. And it’s true that most companies face those kinds of technical challenges, whether it’s ensuring predictability of IT budgets or making new systems “future proof” so they won’t need to invest again in a few short years.
But technology is not a true asset here. The answer isn’t just faster computers and more space in the cloud. Those are simply tools in the box. Your real asset is a talent.
Hiring the right people is the only way to get your IT infrastructure up to speed. Depending on your talent model, you may need contract workers or permanent employees, but either way, you’ll need to hire the best quickly and efficiently.
Going with an IT staffing firm like Amzur can take the sting out of this process. We offer a comprehensive screening process and holistic talent strategy, both of which allow you to fill positions faster by drawing from an existing active talent pool and using a sustained talent pipeline. With an approach like this, you’re getting quality candidates without the guesswork. If you already have an internal IT organization, acquiring new talent dedicated to digital transformation can free up existing employees for more strategic objectives.
And, right now, you need a digital strategy. Our world is changing. Technology advances by the nanosecond, and this transformation will continue improving and evolving commerce at incredible rates. Don’t get left behind. Adjust your corporate culture, open your doors to new talent, and get ahead of the change.
Sam Velu, Head of IT Talent Acquisition at Amzur Technologies, is an industry veteran with over 20 years in the staffing business. At Amzur, Velu specializes in promoting high-quality and high-value technology services that optimize business growth. He values community and economic advancement, as shown when he served on the Hamilton Business District in Franklin, New Jersey, to attract new businesses to invest in the city.