Are You Making the Most Out of Your Technology? 3 Tips for Getting The Biggest Bang for Your Buck

Yes, technology is supposed to make our lives easier — that is old news. Technology is the secret weapon that gives you an advantage over your competitors. Technology is the ace-in-the-hole that boosts productivity and makes you more efficient. There is just one little problem — you may not be leveraging your technology to its full potential, which is unfortunate because professionals who manage the extended workforce need every possible advantage.

business intelligence solutionsCPO Rising raised an interesting question in a recent article: “Are you making the most out of your technology? For some companies, this is a no-brainer. If you’re investing resources into an outsourced solution, chances are you’re extracting every last bit of value from that platform. However, those enterprises currently leveraging a VMS or MSP offering and not making the most of it must ensure that they are utilizing these solutions to support a wide range of processes, including analytics, business intelligence, requisition development, supplier management (and supplier performance), SOW management, and services procurement.” Is your organization making the most of its technology?

The problem revealed

Many organizations fail to squeeze every ounce of value out of their technology solutions. Considering what that technology costs and how it underpins business initiatives and everyday processes, that is a shame. In fact, investing in an MSP or VMS and not using it to the fullest is like eating soup with a fork — an experience that leaves a lot to be desired. You may wonder why anyone would invest in technology and not take full advantage of it.

The reason you might not get ROI

If you are responsible for contingent workforce management, you are busy. There are a number of good reasons why you may not be reaping all the benefits your technology has to offer. For example, you had a business problem. You found a solution that solved that specific problem, but nobody ever explained what else the solution could do. In this example, the organization may solve the initial problem, but may miss opportunities down the road. Implementing a technology solution is not necessarily about solving one problem. It is more about creating value for the entire business. The reason why your technology is underutilized does not matter as much as the realization that you may have more resources at your disposal than you even knew. So, what is the best way to extract all the value from your technology solutions?

3 easy ways to get more bang for your buck

  1. Train your team. Make sure your people are equipped to get the most out of any existing solutions as well as any you plan to implement. There is nothing worse than missing the benefits of useful technology because of low adoption rates. When everyone knows how to use technology to get business results, your organization is on the right path.
  2. Tap a VMS/MSP partner. Work with your technology partners to make sure you are getting your money’s worth. Tapping into your supplier’s knowledge and experience can be invaluable. They likely have value added services and understanding of your industry. For example, Beeline has a rich resource library available free to anyone interested in learning more about the industry.
  3. Take a big picture view. As mentioned earlier, a best practice is to leverage technology to drive business value. If a solution can give you visibility and business intelligence, it is even more valuable.
Can your organization get more value from its technology? Join the conversation by tweeting us @BeelineVMS

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