As technological advances speed up the pace of business, many company owners are finding themselves needing tech upgrades.   

Courtney Kincaid, the President and CEO of the Indiana CPA Society, says that while tech upgrades are important, you should know some important best practices. Kincaid says many small business owners run into roadblocks when trying to implement or upgrade their business technology, and that’s when it’s time to reach out to their CPAs for advice.

Kincaid the first step is to look at your business and what it needs to function. Reviewing your processes and workflows is a great first step and can help you address any possible tech needs. Next, Kincaid says to look at your operations and human capital. This will help identify if there are any opportunities for automation.     

After an initial assessment is done, Kincaid wants business owners to review, or create, their short and long-term goals. This list will help identify what tech might be needed to achieve those goals. But, Kincaid cautions, a long-term goal should not stretch much further than 3-4 years, since the pace of technological advancement is rapid.  

Kincaid wants business owners to focus on the specific problem new technology will help them solve. She says to be careful not to invent a problem just to use a new technology. 

When it comes to implementation, Kincaid says to make sure you have the right people in place who understand the technology and how to use it. This means being realistic with implementation timelines and giving your staff enough time to learn the new tech.