A surprising number of business leaders invest in technology before fully investigating its functionality. A report by Ricoh recently found that when asked how best to improve their business-critical document processes, over 40% of business leaders said they would invest in hardware first.
In fact, these leaders would also recommend this as a first step to other businesses looking to improve their processes. This recommendation also fitted with the 78% of businesses who admitted they invested in new technology for their business, before actually making the most of the technology stack they already had.
More confusion abounds, when 79% of business leaders admitted that they are updating technology so rapidly that it causes back end, or legacy problems.
The solution? Don’t update technology without first fully investigating your current capacity, you could be wasting resources.