Five Cost-Effective Ways Keep Up-to-date with Technological Advancements

Recently, technology has been changing at a very fast rate. For instance, according to Moore’s law, the speed of a processor doubles every 18 months. This rapid change in technology can make it hard for some organizations to be up-to-date without running into bad debts. The cost of maintaining the current systems is already overwhelming for most enterprises, and this makes it difficult for them to adopt new technologies.

In addition to the rapid advancement of technology, numerous applications and technologies for artificial intelligence (AI), cloud computing, and mobility are launched every day. This leaves the business with a full range of competing technologies to choose from for their operations. It is essential for businesses to keep up-to-date with technology, even those that don’t consider themselves as tech enterprises. Every organization deal with technology in the phone systems, computers, security systems, networks, air conditioners, and productivity.

Tech has become a critical and unavoidable element in today’s businesses. Companies cannot ignore the impact of technology as it helps firms build a strong presence in the business world and remain competitive. To keep-up-to-date with technology cost-effectively, a business will have to identify the type of technology it wants to work with.

In the rapidly shifting tech landscape, IT experts have cost-effective options to modernize their companies. The options do not involve old methods that are costly such as staff augmentation. Instead, they involve utilizing the power of networks and surrendering some control. Here are some of the sot effective techniques that IT experts can utilize to keep their companies up-to-date.

  1. Develop an Application Programming Interface (API)

Software developers cannot create software that has all capabilities and features that businesses want for their platforms or applications. IT professionals in a company can merge, form a strong developer network, and create an appealing API using the data in the organization as well as outside sources such as business partners. The team should ensure the API is good enough to attract investors. The developers should license the API and obtain fair promotion in app stores and directories.

To reduce the cost of app development, the IT director in the firm can let the IT staff build the necessary applications with their resources and later sell it out. API’s can lead to the creation of many applications in a short time at a relatively low cost.

  1. Hold Hackathons

Hackathons are events where an organization invites technology developers to solve a certain problem, and the winners get rewarded. The organization holding a hackathon should provide an application programming interface to facilitate the creation of various solutions. The company can also identify tech talent and add the person to the IT staff.

  1. Non-IT Developers

A business needs more than IT experts to keep-up-to-date with the emerging technologies. Introduction of low-code platforms for creating applications has made it possible for people with little or no programming skills to make applications. All the developer needs is an idea. This technique can enable a business to adopt new technology in a cost-effective way. Enterprises without an IT professional can use low-code platforms to build applications. There are also numerous low-code platforms such as Joomla and WordPress that are used in web development.

  1. Open Source the Projects

Gone is the era when people wanted to take all the credit for developing amazing applications and platforms. Open sourcing a project means availing the source code to other developers for modification or use. An open sourced project has contributions from the world’s greatest minds. The developer will end up with an amazing software as opposed to one he/she would have obtained by working alone.

  1. Partnerships with IT Companies

IT companies need fields that equip them with new ideas for innovation. To reduce the cost of IT solutions, a company can partner with an IT organization for mutual benefits. The business will provide the data that the tech company wants and provide a testing environment while the IT firm provides tech solutions to the business.

Technology is advancing, and if you do not keep up with its speed, the odds are your rivals will. With the many updates available, it can be confusing for most front-end users. Good news is you can be up-to-date even with the least or no budget at all.

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