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What is the importance of technological investment in a company?

Johan Bernal N.

Johan Bernal N.

Published

2 min read.

More and more companies have been able to return to their functions thanks to the economic recovery and the gradual reopening of physical spaces. However, it is clear that without the help of technology, this might not have been possible.

While many organizations went bankrupt because they resisted transforming their internal and external processes, there were others that took advantage of the contingency caused by the COVID-19 pandemic and managed to digitize once and for all. Since the pandemic, 6 out of 10 companies sell online, when in 2019 only 20% had an online presence.

According to Alejandro Vargas, Research Manager at Select, the IT budget for 2022 in SMEs will be 4 billion dollars; that is, 24% of the entire business IT budget, just in Mexico.

One of the sectors that have benefited the most from technology as a result of the global contingency was commerce. For example, in the second quarter of 2021 alone, in Colombia, online sales reached 2.4 billion dollars. An increase of 54.9 percent over the same period last year, according to the most recent report of the Colombian Cámara de Comercio about e-commerce.

Therefore, due to the promising figures and results that digitalization has brought; and the great adaptation of remote work or work at home, many managers today continue to rely on the technification of processes and digital management of their companies.

And the workforce applauds these figures, mainly because they allow maintaining these flexible work methodologies, which translates into more family time and decreased time and costs invested in work issues.

Moreover, it is no secret that investment in remote work will determine talent attraction, as professionals will prefer companies with more virtual-oriented work initiatives.

But how technology promises to prevent a return to the office.

Optimizing a company's operations by making its processes more efficient is possible by eliminating duplication, errors, and delays in the workflow.

In this regard, Erick Rincón, president of Colombia Fintech, highlights how technology today allows us to take advantage of data, through analytical models that contribute to the improvement, not only of the strategy but also of the tactical actions to reach consumers.

According to figures from the Fintech guild, Colombia has become the third regional ecosystem, after Mexico and Brazil. With 322 companies generating more than 9,600 jobs and annual sales of close to US$795,000, with an average growth rate of 25%.

And technology will continue to have the advantage. According to the report "Digitalization of SMEs 2021" prepared by ONTSI (Observatorio Nacional de Tecnología y Sociedad), in spanish companies (250 or more employees) continue to be the ones with the highest level of digitalization and, by sector, the information and communications sector continue to lead the digitalization ranking, which translates into better results and greater profitability.

Definitely, the technological investment will not only allow preserving the great results evidenced in recent months but will help to consolidate professionals and ensure that they continue to be part of the companies; a decision currently influenced by the possibility of working from the virtuality.

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