There can be a lot of consideration put into deciding to invest in new tech for your business. Whether it’s in productivity, like a collaboration or project management tool, to replace something old with new, like a finance tool or to add new capabilities that transform your business, like the UBIO Robotic Connectivity Automation (RCA) API.
And when the decision is made and the investment signed off is when the real work starts to ensure you see the full value from the choice you made and product you invested in.
In many businesses, the excitement of investing in new tech wears off when it becomes clear that to see the full benefits requires considerable and considered time investment. Even for productivity tools that are primarily bought to save time, it’s important to spend time rolling it out the right way before you can enjoy its full set of benefits.
Making the most of your investment
Before interacting with your new toy it is important to aim high with what you want to achieve from your investment and if applicable, put a value (such as revenue target) on it. Because this number will help you justify allocating resources that will make it a success. Consider those resources together with all other commercials related to your new tech.
Successfully and effectively implementing your new solution is incredibly important but we will cover that another time. For now, we will assume that this has already been done and you have a well functioning solution.
What is RCA?
In this piece I will often refer to the UBIO RCA solution, but what is RCA?
Robotic Connectivity Automation is a technology that allows us to automate anything online. For most of our managed service customers, aggregator websites in the travel or price comparison space, it means replacing click-outs with automation of transactions. For others, it would be building alternative transaction flows for events or any online checkout. We even started offering our tool for companies to create and manage automations themselves.
But the information here is valid for any tech solution, particularly if it enables your business to transform beyond what was previously possible.
Understanding the right steps in your business
No two businesses are the same, so understanding what the full end to end process is from idea to go-live with additional services/suppliers is vital for scaling up RCA in your business.
Questions to consider:
- Who would benefit from this integration? (eg. creating your suppliers’ list)
- What they need to know (eg. your pitch)
- Do they need to sign an agreement? What does that look like? How long does it take? (the paper/sign-off process)
- Who Do I need to involve externally? (UBIO Customer Success team usually)
- Who do I need to involve internally? (The internal integration team that you assigned during implementation)
- What might stop me from going live? And how to how account for that? (Your risk mitigation plan)
Building a healthy opportunity pipe
The key to scaling is always maintaining a healthy opportunity pipe. That means a good amount of conversations with suppliers that will lead to having a steady stream of agreements and eventually, activations as part of your integration.
Moving fast and slow
Organisations move at different speeds. Usually but not always, the larger the business the slower it moves, consider that when you work on your opportunities. Include a variety of suppliers and work with them simultaneously so you can build up towards a steady flow of activations. If one supplier takes 6 months to get over the line, don’t wait until it does, have 5 or 10 others on the go and after a while, you will have a healthy schedule of launches.
Possibly the most important aspect of all. Consider what success looks like for your business and set goals to achieve them. Here are some metrics our customers concentrate on when setting goals and these usually can be applied to any tech solution in your business with a direct or indirect effect.
- Revenue: What should this new solution in your business contribute in revenue by the end of year 1, year 2 etc.
- Customer satisfaction: To what extent would you need to adopt this new technology to increase your customer satisfaction rating?
- Differentiation: How do you ensure this new technology helps you differentiate your business and be part of your ongoing transformation?
You can apply measurable metrics to these such as conversion rates, NPS scores, customer reviews, valuations, etc.
No matter how well you do all of the above, technology doesn’t stand still. Talk to us (or your tech provider for other platforms) about what best practices we see with other customers, what new features are being developed. Talk to your teams about how you can speed up the sale cycles or your tech or design teams about what they can refresh or even, what else you could use this tech for.
Whether specifically for RCA or another technology you invested in to enhance your business. Reach the goals you set for yourself and hold your provider accountable if you’ve put in the time and effort to work with you to achieve them.
Include the time and internal resources needed when you consider taking new technology onboard and train any team in your business that will be interacting with it as well as communicate why they will be doing it (your goals) so everyone can share the success and satisfaction of spearheading and scaling tech in your business.