The Australian Government recently released a commission paper titled ‘Digital Disruption: What do governments need to do?’ that looks into the disruptive nature of technology and what businesses can do.
Surprisingly Australian businesses are lagging behind businesses in other countries when it comes to technology with only 14% reporting that they are adopting new technology.
Australia was also ranked 20th out of 32 countries in the OECD for the number of businesses that have websites.
This is concerning for Australian business as Cisco have recently released their own report on technology trends in Australia, the ‘2016 Cisco Visual Networking Index (VNI), that urges businesses to update technology or 'suffer’.
Kevin Bloch, Chief Technical Officer at Cisco stated that adapting to new technologies is a must for businesses to keep up with their consumers.
“You’ve got three years to start your transformation to digital,” he said.
“And if you don’t do it now, within three years, you will suffer.
“You’ll either go out of business or you will be in difficult times.”
Mr Bloch also mentioned the importance of moving to the cloud for new businesses.
“If you want to start a business, go with the cloud straight away.”
The best way to stop technology from disrupting your business and then trying hastily to play catch up is to stay ahead of the game. Take an interest in the technology developments in your industry, stay up to date with what’s happening, read blogs and attend events.
The Cloud allows you to access your business from anywhere, this means employees can be sent out on-site to offer consulting style services. This kind of flexibility allows you to have all information and applications on hand, build better relationships with clients, add more value, and ultimately generate a higher profit margin.
Overall, the right technology can allow your business to step up your service offerings, create a more productive and collaborative office and attract the right employees. Once you start looking at technology as an enabler and not an overhead, you will begin to grow your bottom line and gain a competitive advantage.