TRANSFORMING THROUGH TECHNOLOGY
How leveraging technology enables us to create efficiencies and capacity
Computers , the internet , cutting-edge software , artificial intelligence , Blockchain , bots , and other innovations have transformed the way we live and do business . The world we know today is vastly different than the one we knew even 10 years ago and those who don ’ t embrace change run the risk of becoming obsolete . We ’ re not taking that risk at Rea . Rather , we ’ re focused on leveraging technology to improve and enhance our business processes .
THE EVALUATION PROCESS
When it comes to identifying and implementing changes , there ’ s a lot to be considered – especially if the decision requires us to determine if , when , and how to deploy new technology . More often than not , the process for evaluating whether a change or new solution is needed begins with an internal angst or pain . From there , we have to decide if addressing the issue makes financial sense , if the technological solution is secure , and how potential solutions will interact with our existing programs . To address these questions and more , we deploy the following measured and strategic approach .
1 . IDENTIFY WHO THE ISSUE AFFECTS . At the management level , we look at our firm as a whole and uncover who the identified issue affects . We ’ re then able to have a better understanding of the extent of the issue . This also helps us determine whether technology will help us solve the problem .
2 . CREATE A TASK FORCE COMPRISED OF A CROSS-SECTION OF EMPLOYEES . Arriving at an optimal solution does not happen in a silo . We create a task force , which includes those affected by the issue , as well as individuals from our operations team , and IT , to evaluate new technology solutions . We believe it ’ s important to bring in a range of experience and expertise in these types of decisions .
3 . DETERMINE WHAT SOLUTIONS EXIST . Many of our people are intimately involved in industry associations – locally and across the country . We ’ ve found that many of the best technology providers come from the recommendations we secure as a result of our involvement in these associations . Of course , we also research and study up on solutions in an effort to have a solid grasp of our options before narrowing down our list .
4 . NARROW DOWN THE LIST OF TECHNOL- OGY PROVIDERS TO NO MORE THAN THREE AND HAVE DEMOS OF EACH . In addition to remote , online demonstrations , we may invite representatives from the top contenders to present their solution in person , which allows us to get a better feel and understanding for the solution ( and the company ) we are considering .
5 . MAKE FINAL DECISION ON TECHNOLOGY SOLUTION .
6 . CONDUCT A TRAINING PERIOD WITH “ POWER USERS .” After signing on the dotted line , we line up training for those who will be designated as primary point people during the rollout of new technology – we call them “ power users .” Once power users are trained , the technology is rolled out firm-wide , generally using a phased approach .
For Rea , the evaluation process ultimately led us to the decision to launch Robotic Process Automation ( RPA ). As a business , we want to streamline processes , become more efficient and free up time for our administrative and client facing staff to work on value-added projects . Partnering with Kryon to launch “ bots ” will allow us to do just that .
Selecting a new technology to incorporate into your business is not a decision to take lightly . Be sure to understand what issues your business faces and , from there , determine if there ’ s technology that can help alleviate the issues .
And with that : ‘ Autobots , roll out !’
By Darrell Williams , chief information officer , darrell . williams @ reacpa . com ( Dublin office ) the business of our business
This section of The Rea Report is dedicated to providing readers with a glimpse behind the curtain at Rea & Associates . To read past articles in this series , visit www . reacpa . com / business-of-our-business .
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