MANY COMPANIES

ARE ONLY SCRATCHING THE SURFACE

OF WHAT THEIR TECH STACK CAN

REALLY DO .

Even amid budget constraints and the trend towards app consolidation , most organisations still have significant tech stacks . Research shows that the average small business with 500 or fewer employees has 172 apps . Midmarket companies between 501 and 2,000 employees have 255 apps on average .

However , many companies are only scratching the surface of what their tech stack can really do .

One of the primary reasons for underutilisation is a lack of knowledge about what an app or tool can do or how to use it .

To unleash the potential of their tech stack , CTOs should commit to training and upskilling their workforce . This can be done through scheduled training , for example , ensuring regular training sessions are held – particularly as tools update and features are added – and staff are kept up-to-speed on all aspects of how their tech works .

Organisations could also look to encourage or even mandate certifications for some of the core tools used by the business . This should help ensure a minimum level of proficiency across the board and enable firms to ensure they are getting the most out of their technology .

CTOs should also consider how they can embark on a programme of integration , exploring opportunities to integrate different systems and tools to streamline processes and improve data flow . Compatibility between systems is crucial to eliminate data silos and inefficiencies , also helping to increase utilisation .

Why small- and mid-tier companies have the advantage

Unlike large corporations , mid-tier firms can afford to pursue this strategy of ‘ utilisation ’ because , in most cases , they are not burdened with legacy technology systems .

Compared to their smaller peers , large enterprises have , on average , more than 650 apps – many of which can be several years old . This can cause issues with stability and reliability , meaning businesses must spend significantly more than expected to replace and renew out-of-date tech .

For example , the financial services sector is consistently a victim of this problem , where larger rivals must increase their technology spend at a much faster rate than mid-tier players to improve their services and increase market share .

By contrast , small- and mid-tier firms – unburdened by masses of legacy tech across an organisation involving thousands of employees – can facilitate better communication and collaboration , ensuring that employees are proficient in using the organisation ’ s tech stack . This reduces the risk of underutilisation due to a lack of training or understanding .

Smaller organisations can also take advantage of their typically leaner processes , meaning they ’ re better able than large corporates to optimise their tech stack to support their core functions , helping cut complexity and increase utilisation .

While larger firms often have the ability to invest more in technology than their peers , small- and mid-sized businesses have the advantage of agility , customisation and a close-knit , collaborative environment that can enable them to make the most of their technology stack . They can leverage these strengths to innovate , remain cost-efficient and stay competitive in a rapidly evolving business landscape . �

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Intelligent SME . tech