When it comes to IT and ITEs companies, India has taken the world by storm with it’s innovative stance on this industry. The FY18 proved this, as India managed to capture 55% of the global sourcing business, which was a staggering $185 to $190 billion. Whether you’re an up-and-coming startup looking to simply put food on the table, or a multi-billion corporation wanting to expand your assets, there’s no denying that IT and ITEs will play a remarkable role in growth. With government support in the form of finance for SMEs and other business initiatives to expand Indian business reach, now is the time to look into investing in the right areas.
The Cost-Benefit Ratio Of Tech Is High
When stacked up against other well-known office expenses such as floor space rentals and skilled staff, the cost of investment in tech seems minute. The example used is on a per-hour basis, where office space went for around $2 per hour and the worker a stellar $60 per hour. A high-tech desk, on the other hand, only required an investment of around $0.20 per hour. What the technology can add in terms of cost saving and productivity largely depends on the type of business and what the technology is used for, but it’s not unusual to expect a 40% boost.
Tailored Tech Is Inexpensive In The Long Run
There are two fundamental considerations for business owners when investing in tech; the first is that a tech investment requires a capital injection in the beginning. Over time, the investment in the tech becomes obvious as business owners enjoy increased productivity. It’s not unusual to cut a 50-60 hour work week down to 30 hours. The second consideration business owners need to think about when investing in tech is that it may take some time to get to know the new system. This may require some additional time spent at the office. However, the pay-off is less time spent at the office in future.
Your Brand Deserves An Investment In Tech
There are some exciting developments in the tech world where AI is considered, which seems to be doing brands the world of good. AI allows businesses to focus on the number one aspect: their customer base. From keeping CRM initiatives hot and fresh to an overall improvement in customer experience, AI allows businesses greater insight into what their customers actually want.
For business owners who wish to remain relevant, the investment in tech is at the heart of business growth. While it may require some time and capital at first, the payoff is worth it in the long run.
