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What You Should Know About Tech

Mar 9, 2020 | 9m

Gain Actionable Insights Into:

  • Understanding the basics of tech and shelving your apprehensions about it
  • Common blind spots you might face as a non-tech person
  • How focused learning can help to expand your understanding of tech and enhance your business


Basic Tenets of Technology

From social media to television and phone apps, technology has become a part of every aspect of our lives. Instead of an old-fashioned alarm clock, you probably woke up to an alarm that you set on your phone last night. Before getting out of bed to brush your teeth, you probably checked your friends’ latest updates on Instagram or Facebook, and even likely scrolled through the emails you received while you were asleep.

Although technology is everywhere, not everyone is quite as well-versed on the implications of technology – the good, the bad, and the ugly, so to speak. In the 70s and 80s, only IBM was considered a tech company. Now, almost every company can be considered a tech company, even if they simply deliver food. As a tech person, I have encountered people who are unclear about what tech is and isn’t.

Based on my knowledge and experiences, here are the basic tenets for tech knowledge to broaden your understanding and further your business.

First, shed all apprehensions. Tech is not quite as complicated as it is made out to be. Tech geeks are known to throw around jargon, which may make you feel like they know something you don’t. The truth is, it takes two to tango. In order to realise your business goals, you’ll need to work collaboratively with your tech people so that everyone is on the same page.

This can only happen if you as the businessperson have a very clear understanding of your business goals. Document exactly what you envision in simple English. List down everything that needs to happen. When in doubt, oversimplify. This will help you communicate clearly with your tech colleague. Tech people tend to focus on their goals, and may miss the bigger picture of how their work affects the rest of the business. So, it is important to err on the side of caution, drop all of the business jargon, and oversimplify so that your tech person can gain a clear picture of your goals.

Common Myths and Misconceptions About Technology

While technology plays a large part in helping you achieve your goals, many assume that technology can take over everything and eliminate the need for human processes. However, this is simply not the case. It is true that technology is advancing rapidly and has helped many organisations scale to new heights. But technology still has its limits. There are certain processes, services, and areas that simply cannot be automated or “techified”. If you try to techify something that can only be carried out by a person, you are setting yourself up for failure, and wasted time and resources. It is important to know your end objective and work towards the best solution to reach your goal.

Once you are aware that technology cannot create a straight-through process for every aspect of your business, then you will be able to work with a tech person to identify what can be automated. If you have a basic knowledge of tech, you will be able to work more efficiently with the tech team to create a plan that will accomplish your goals.

After implementing tech into your business, remember that technology does not guarantee that there won’t be multiple copies of your work. How do you safeguard yourself against data breaches and plagiarism? You could consider preparing legal documents and nondisclosure agreements for a start. Also bear in mind that while there are many services that appear to be “free”, the fine print will reveal that you’re actually giving up your data in return.

Two Most Important Aspects of Technology

The increased use of technology worldwide has led to a marked increase in cyber crimes. When implementing technology into your business, the most important aspect to establish is a form of cybersecurity. Your clients, customers, and employees trust that you will protect their data. So, in order to keep their trust and protect your relationship, it is vital that you ensure proper data protection. Once information has been exposed, there is no way to regain privacy.

As with every business, cost optimisation is key. You have a certain budget to work with each year, and you want to make sure that you make the most of it. Although implementing technology can be pricey, it can also be cost effective. When you create a plan with your tech team, you can calculate how much it costs to implement technology and determine how to make the most of it.

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Bhavesh Lakhani

Former CTO | EVP & Global Chief Information Officer

IndusInd Bank | Firstsource



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