Embrace the Change

05 December 2018

The age of digital disruption is happening all around us. It cannot be stopped or even slowed down. Should traditional businesses be concerned in this age of disruption? Or should they see it as an opportunity to grow and develop?

While queuing for a coffee recently I happened to overhear the tail-end of a conversation between two people, relating to a round of interviews they had just conducted. Their conversation went along the lines of - “The bit that infuriated me the most was that she kept looking at her phone, both during answering my questions and when I was asking them. Millennials! I despair at the future of our workforce if this is what is coming up the ranks!”

Clearly, what caught the interviewer off guard, and in-fact infuriated them, was the fact that the behaviour of the interviewee during the interview was less than classic interview style.

So, is this something to despair of? OK, clearly, pulling out your phone during a job interview is not exactly the best impression you can give of yourself, and it’s not something any of my age group would even consider doing. However, is the over-reliance that Millennials have on technology, a purely unhealthy attitude? Or is it giving them a different perspective and technological advantage in the world? Are there aspects of this changing mindset that we could adopt?

We are in the age of disruption. In fact, we are somewhat in the teens of this era. We have moved from landline phones to smartphones, black-cabs to Uber, hotels to Airbnb. Even traditional accounting has changed, with moving from ‘traditional’ desktop accounting packages to cloud based subscription packages like Xero and Quickbooks. With new and emerging technologies leading the way, especially in our profession, can we afford to not keep up with the pace of change?

Could we benefit from a change in focus – stop trying to come to terms with today’s way of doing things but start looking forward to what will come. After all, in a rapidly developing digital marketplace, those without a plan for change and digital transformation are being left behind and therefore unable harness the advantage emerging technology can provide.

Instead of faltering, embrace the change. Take control in this new age of disruption and ask, how can I be part of it? Look at all aspects of your business:

  • Your people – A key resource. Ask them what ideas they have that can bring your business forward. Be willing to consider a change in focus if it makes good business sense for the future. Do they want further training to help them fully use the technology available?
  • Your processes – Can you introduce new technologies into your processes – use apps, mobile based technologies or even AI to make your business processes more efficient and effective.
  • Your data – Remember the key phrase Garbage in=Garbage out. Take a long hard look at what data you are producing and processing. Have you concerns over repeated anomalies in the data that you report on? And indeed, what do you want or need to report on to help you make better decisions?
  • Your systems – are you still only using desktop products? Have you considered the benefits of a Cloud system?

Answering and addressing some of these questions may help you to run your business more efficiently and effectively, reduce your risk of data loss, increase your system security and allow you to focus on improving your business performance.

In summary, digital disruption is happening all around us. It cannot be stopped or even slowed down. If it is not something you have considered, you may already be facing the decline of your future business. Although all is not lost – embrace the change. Approach every aspect of your business with a fresh and differing approach, influencing your future with a digital ready outlook. Should this cause you sleepless nights or confusion in how to even begin to make the first step, why don’t you contact us and start a conversation.