Successful Businesses Invest Tax Break Dollars into Meaningful Technology

According to Gartner, recent research is projecting that in 2018, companies around the world will spend more than $3.7 trillion in new technologies.

Business leaders who feel that daily operations have forced them to deprioritize how they leverage technology should use tax break funds to get out of that rut. What if you chose to use your tax break to invest in technology that sets you apart from your competitors? How do you decide where you should focus your investments?

While exploring technological investments, you need expertise to identify the most meaningful ways you can implement technology to satisfy one or more essential functions of your business. So, what is meaningful? Investments related to gaining insights into: business models, operational performance, customer satisfaction and sales and marketing can put you on the path to amplifying your business performance.

Improve Customer Satisfaction through Optimized User Experiences

Visual design services empower you to rethink and reshape the image of your brand as it relates to your customer base on social media, your website, mobile apps and more. According to a 2018 article published by Eugine Dychko of MarketingProfs, approximately 37% of marketers report that visual marketing is the single most important type of content for their companies, second only to blogging. The right partner offers a team of experts in planning, testing and creating visual design strategies that appeal to your customers’ real needs. Visual design services that can help you identify problems and inefficiencies include:

• Branding
• Research
• Usability testing
• UI design

Businesses that face gaps in branding and visual design might invest tax funds in this type of technology to increase profitability gradually. Weil & Jones teams can help identify and achieve performance benchmarks to further your brand and meet customer needs.

Dig Deeper with Insights

According to a recent study published by Forrester, 74% of businesses in the study said they wanted to be “data-driven,” but only 29% were actually successful at connecting analytics to action. If your business needs to use data better, you can move forward by partnering with an organization that offers insight services.

Insight programs and platforms give you the ability to gain a deeper, more accurate understanding of short-term and long-term strengths and opportunities. Some examples of what insights can bring to your attention that would benefit your business through:

• Analysis and validation
• Reframing strategies
• Business process alternatives
• Execution options

By investing your tax break in a technology that gives you detailed insights into how you can evolve your business, you can maximize your profits. Weil & Jones can help your business quickly and economically create solutions that reduce both your risk and opportunity costs.

Innovate Your Business Model

Innovation is key for continued growth. According to Professor Feng Li, Head of technology and Innovation Management for Cass Business School at City at the University of London, “Innovation is on everyone’s agenda, and although most don’t have issues developing strategies, or generating new ideas, they often fail in their execution. How companies adapt to new technologies, and embrace different ideas at pace, is key to their survival”.

You need a technological partner that can help you explore adapting your business model to boost your profits. Businesses that focus on growing their core competency should consider complimentary approaches to drive growth such as:

• Technology-based models
• Solution engineering
• Software selection

By choosing more effective models and investing in those solutions, you can avoid slower growth, make your business model more flexible, speed up being first to market and redefine the trajectory of your enterprise. Weil & Jones can guide you through the best business model innovation strategies by understanding your needs and offering custom-tailored solutions for your organization.

Streamline Program Management

Many organizations find it challenging to successfully develop projects internally. In many cases, internal project teams might put together a great plan but lose urgency during execution. According to a 2018 project management projections published by PMI Pulse of the Profession, a lack of clear goals is the most common factor (37%) behind project failure, according to executive leaders. What if teams had support to ensure that they goals were communicated properly and had the right combination of tools and team members they needed to see the project through?

Your organization can avoid pitfalls of project management by adhering to a hybrid strategy consisting of internal and external members. By integrating external program management, support and execution services, you can better control project outcomes.

If your business struggles with managing projects effectively to conclusion, investing in program management and support personnel and technologies can put project execution back on track. Weil & Jones offers services that give your project teams the support they need to maintain control and complete stalled or underperforming projects.

Weil & Jones can help you uncover operational inefficiencies, identify areas for improvement, and design technology solutions geared toward improving day-to-day business operations and increasing profitability. To learn what our firm can do for you, set up a free consultation today. Call our NYC office at +1 (646) 472-7900 or email us directly at business@weiljones.com.