We live in an age of abundance of new technologies. Consumers are inundated with faster and more advanced smartphones every year, and the Internet of Things keeps people connected to smarter devices ranging from refrigerators to cars. Business executives face equally advanced technologies that, when used properly, can improve their companies and operations.
While new technology can bring benefits to a business, getting top management on board can be an uphill battle. In an ever-escalating world, many executives are exhausted from implementing new technologies. They may wonder if all the progress is really worth the investment. Here are some tips for presenting technology to your executives to engage them in change.
Highlight the bottom line
Adopting new technology is often an expensive endeavor, and being an early adopter can be especially risky. Just look at cryptocurrencies to see the risks and possible rewards involved in investing in new technologies.
When presenting new technology to top management, it is imperative to show how seizing the opportunity will ultimately pay off. For example, the use of automation can reduce costs for CPA firms and the clients they serve, as it increases accuracy and efficiency. Automation can be used in various industries, including accounting, to eliminate human error. Mundane, repetitive tasks that consume employee time and energy can also be delegated to automation, freeing up valuable time for more profitable work.
keep their business in mind
The goal of every company is to develop a successful business. When top management sees the power of technology to drive the business, it will be easy to sell.
KPIs are a valuable tool that helps businesses track company performance in key areas such as customer satisfaction, operating cash flow, profit margins, and more. Using the right technology can enhance the way you measure, analyze, and leverage KPIs to drive business growth. Customizable dashboards are a great resource for displaying any KPI your company needs. Dashboards enable executives to use the latest information to make data-driven decisions for the company.
show them magic
When it comes to new technology, the proof is in the pudding. The best way to involve executives in trying out new technologies is to show them how their business will benefit.
Using automation, visual reports and customizable dashboards, CPAs can give C-level executives visibility into company financials, including real-time metrics, accurate forecasts, and where the business is hitting or falling short of its goals. With the stunning visualizations and instant feedback that customizable dashboards can provide, executives will have a “light bulb” moment and see the real value of using the technology.
Adopting new technologies can ensure that companies remain competitive in their industries. Try these tips to help your top management understand the benefits of using technology to add value to their business.
Justin Hatch is the CEO of Reach Reporting.