SDN Blog

How Technology Can Serve as Economic Development Tool

Posted on Friday, February 19, 2010

Blog written by Super

More and more companies are beginning to realize the correlation between IT spending and economic growth. However, that knowledge comes with a new level of confusion and a new set of questions:

How much of my budget should be spent on IT?

When should I invest in new technology?

How often should it be reviewed?

What do I really need to do?

“IT is an integral part of almost every business and essential to moving the business forward,” said Dean Putnam, sales engineer at SDN. “Business owners should try to understand the value of technology solutions as an investment, not just an expense.”

Technology can serve as an economic development tool for many businesses. “Businesses look at investing in new technology for obvious reasons like hardware failure, but they should also consider it if they are losing market share or are in a very competitive situation,” explains Putnam. “Technology helps gain market share by improving productivity and collaboration. It can also make you appear more competitive [to your customers], improve company e-tools and provide additional solutions.”