It would be an understatement to say that technology floods our marketplace today. Its presence has not only completely changed how we live our everyday lives, but how we think and expect the world to work. For example: In today’s society, it’s expected for your company to have an accessible website, is it not? So as expectations change, why does the mortgage industry remain stagnant? Why are we slow to adopt technology when it can only provide benefits to reaching and engaging with potential customers? Much of it comes down to the fact that we aren’t sure where to start. How do we find a technology that fits our business? How can we implement new technologies within our organizations without changing our everyday business workflows? We’re here breaking down how to successfully fulfill a technology project with 10 Key Principles that any business can follow. Here’s an excerpt from the white paper, Why Technology is so Difficult, on Principle #8 to mastering and applying technology successfully.
“Principle #8 - Best is the Enemy of Better
“Best” is a moving target. What’s best today could be passé tomorrow, and if you are constantly chasing “best,” you will ultimately spend inordinate amounts of money and effort on something that you may never achieve. Instead, let your business decisions be guided by “better.” Create a culture of continuous business process improvement where the goal is to move the needle forward just slightly each and every day. This “slow-and-steady” strategy will keep you as close to best – whatever it ends up being – without churning through resources unnecessarily to get there.”
The idea of “continuous business process improvement” is especially significant because this is the key to mastering any sort of organizational change, not just technology. In our blog post on Principle #7, we talked about how all technology has a shelf life and the importance of choosing a technology that can evolve with your business in the future. This is so imperative with technology because the idea of the best technology is ever-changing, just as the industry changes. Allow your technology projects to be flexible, and ensure that they are leading your business in the right direction, not the easiest direction. After all, what does it say about your business if you are stuck with a decade-old process? Don’t let technology be a barrier for your business. Follow these 10 Principles and master the seamless implementation of any technology project.
To learn more about all 10 Principles, download our white paper, Why Technology is so Difficult, here.
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