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Business Exchange

How Do I Know What Technology I Really Need?

Date:Sunday, February 24 2008

Before you decide to buy any new technology, you should be sure that it will benefit your business in a big way. What are your core business needs? Would technology address those needs (or even help your business improve)? If the answer is yes, it's time to do a cost/benefit analysis of each potential project. If you still have difficulty deciding, look at the technology other businesses in your sector use. Finally, make sure you understand what any new technology will require before buying it, in terms of staff time, maintenance, and updates.

For more on technology investment, be sure to read How to Develop a Technology Investment Strategy.