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Just because something is new and has the potential to change an industry for the better does not mean that it is right for every company. While it is essential to stay at the forefront of technological breakthroughs, it is equally important to remember that technological advances are always better for some companies than others. The trick is matching the new technology with the correct industry and organization. Adopting technology early for the sake of being cutting edge does nothing for an organization. On the other hand, choosing the right technology for the right circumstance can provide a competitive advantage that is hard to overcome. Here are five considerations that should be made before adopting new technology.

  1. Seek Greater Clarity

The mistake many businesses make is that they adopt technology because it is new rather than because of the value that it can provide. Seeking greater clarity before adoption allows a company to compare and contrast the strengths and weaknesses of the technology with the needs of the organization.

  1. Do Not Move Too Quickly

The tendency for many companies is to move forward as quickly as possible when a new technology is developed. The reasoning is sound. Companies do not want to come across as copycats of their competitors, and this makes early adoption crucial to competitive success. This need to be first, however, should be matched with a caution against making a mistake. If a competitor commits first, it is easy to learn from their mistakes.

  1. Anticipate Problems

There will always be issues that arise when previously unused technology is added to an existing business. The key is to anticipate problems that might arise and have predetermined solutions when they do.

  1. Return On Investment

While striving to remain technologically savvy is ok, results speak for themselves. For this reason, evaluating the return on investment of a new technology will allow a company to logically decide how effective the technology is. The return on investment is a crucial aspect in determining whether to keep the technology or move on to the next thing.

  1. An Implementation Expert

Because the technology is new, the only experts available will be outside of the company. For this reason, hiring someone with the skill, knowledge, and expertise of the latest technology to lead the implementation process is a must.