Inflation continues to plague businesses in all sectors and industries, and it’s not letting up. This has led businesses to implement practices which allow them to get as much value out of their investments as possible, including technology. Let’s go over some of the ways you can achieve a responsible IT budget without breaking the bank in the process.
Technology Investment Can Actually Reverse Inflation
Financial services provider Morgan Stanley has released a list of Deflation Enablers, or things that companies can do to mitigate the costs absorbed by their customers as a result of inflation and product scarcity. Some of the things on this list include a few automation platforms (Appian, Salesforce, ServiceNow, and UiPath) as well as supply chain efficiency software (C3.ai, Palantir, and Snowflake) as well as some other technology providers, like Microsoft.
The theory behind this is that investing in solutions and services provided by Deflation Enablers to cut your costs and boost your productivity can lead your organization toward success, even if the odds are stacked against you. You too can leverage these advantages by working with Lantek for your technology management needs.
Work With us to Combat Inflation
You can do more than you might think to fight against inflation, and it all starts with using the resources at your disposal more effectively. One way you can do this is through what many companies have chosen to continue doing even with the pandemic seemingly on the downswing: remote operations and office downsizing.
Companies spent a lot on their office real estate. Many of them have considered taking that money to reinvest elsewhere within their organizations, particularly in opportunities like IT and sales.
This is far from a coincidence. Morgan Stanley’s Deflation Enablers included many IT providers that utilized automated systems, and automation is one technology that will result in cost savings in just about all scenarios. It doubles the productivity of employees who might be tied up in menial tasks, giving them more opportunities to focus on other, more productive endeavors.
Know that Lantek is here to help you with all things automation-related, and we can help you get the most out of your technology solutions in other ways, too. Our managed services offerings give your business the support it needs to succeed in a competitive and fast-paced business environment.
To learn more, call us at (610) 683-6883.