Pub. 2 2022 Issue 6

Five Ways to Fight Inflation With IT

This story appears in the
The Show-Me Banker Pub 2 2022 Issue 6

Every business in America is dealing with the challenges of inflation. However, few think of technology as a means to help fight the impact. Below is a simple list of things every business can do to fight inflation with technology.

  1. Inventory your software/applications. Too many businesses are paying for subscriptions or maintenance on software that isn’t necessary or is a duplicate of other software in the organization. This inventory should also include verifying the number of licenses versus the number of users.
  2. Train your team on the technology you have. Many businesses do not fully leverage the capabilities of the technology they have in place, from software to mobility, scanning and printing efficiency, to even the proper utilization of a laptop. Making sure your team knows how to do things well creates efficiencies, reduces risk, and sometimes reduces the number of people required to achieve the same outcomes.
  3. Focus on stability. Over and over, we hear about how bad technology leads to frustrations and even turnover of good people. You work too hard to find and train good people, and turnover is extremely expensive.

    When the technology environment slows people down or prevents them from doing what they are there to do, it causes good people to look for options to “workaround” the issue, to give up, or to leave so they are not dealing with frustrations every day. This includes:

    • Security: Dealing with a breach is extremely frustrating and causes your best people to question the decisions of the organization.
    • Backup and recovery: Every organization will need to recover a file, or even an entire system, at some point. Make sure this is as easy as possible so the good work produced doesn’t have to be performed multiple times.
    • Lifecycle management: Old technology fails more, requires more maintenance, and operates more slowly. Stay current with the infrastructure you have in place and keep your team operating at the optimal level.
  4. Put system owners in place. Every business has core applications that drive the outcomes of the business. Put a system owner in place that stays current on the updates and enhancements, trains your team, and has a good relationship with the vendor to ensure support is easy and fast.
  5. Focus on work-product handoffs. Most team members operate really well within the team. However, challenges and frustrations occur when one person’s work product is handed to another team. Get the teams together to discuss what is good and what is unacceptable. Bad work product creates rework and major frustrations. Clear and manageable expectations make a huge difference to ensure that when one team is done, the other can continue advancing the project to the next phase and the outcome. Create easy feedback loops to ensure improvements are constantly occurring.

These five steps will make a massive difference in your ability to fight inflation and keep your people focusing on great outcomes instead of frustrations. When costs continue to increase and finding the talent we need in business continues to be challenging, these steps can make all the difference in the world.

To talk more about reducing costs and driving profits with IT, email Mr. Douglas at