Impact of modern technology and AI on professional services like accountants and lawyers

July 17, 2024

The only certain thing in life is change. Change doesn’t have to be scary or something you reject. Modern technology and AI should be embrace and implement it into your business.  

Over the years we have seen numerous businesses go under because they haven’t adapted and implemented new technologies quickly enough. Let’s look back at historical events. Forty years ago you had to advertise in the Yellow Pages to be seen. In 1995 the Internet and the World Wide Web were the newest things and everyone needed a website, numbering the days of the Yellow Pages. In 2004 we were introduced to Facebook. A single platform that will change human behaviour forever. All of these changes have pros and cons but as a business, if you haven’t adapted to it you were left behind. 

Modern technology is developing at a much faster pace than what you can keep up with. The threat of cyber attacks and ransomware is something our grandparents never had to worry about, let alone the implementation of AI into your business. 

This is a pivotal moment:

Will you adapt and grow, or will you reject change and risk obsolescence?  

Which areas in your business can benefit from modern technology?

Which areas in your business can benefit from modern technology?

Procurement Services

Vendor management and procurement process optimisation is one of the biggest areas where companies can improve their operations and reduce costs. IT Backbone can help you build strong and lasting relationships with vendors through effective vendor management. They assist in selecting, onboarding and managing suppliers, ensuring they align with your quality standards, pricing expectations and delivery timelines. 

Enhancing the efficiency of your procurement processes with bespoke optimisation strategies will streamline your procurement workflows. Identifying areas for improvement and implementing streamlined processes will reduce lead times and increase overall efficiency.

Cloud mitigation

Transitioning to the cloud could be the single most important cost-saving and modernisation implementation you do in your business. Adapting and optimising the use of Microsoft 363, Copilot and Azure will revolutionise in your business. The important thing to remember is that you need to work with a professional IT company that will ensure that everythingis set up correctly and that migration runs smoothly and is stress-free. 

Virtual chief technology officer

Every business requires IT. You need a laptop, phone or computer. You need access to secure internet. You need to be able to send emails and know that your emails reach your customer’s inbox. It’s all fine when everything works but what do you do when something goes wrong? Do you have the skills within your company to mitigate risk and set up a disaster and recovery plan? 

Future of modern technology and AI in your business

Adaptation to modern technology and AI can help you streamline your business, and make it more cost-effective and more secure but only if it is implemented correctly. Allowing multiple people with limited knowledge to deploy software can lead to more frustration and stress. IT has become a full-time position in your company. Employing only one person to do the job limits your company’s growth to the knowledge and experience of just one person. Using a company like IT Backbone as your Virtual Chief Technology Officer (vCTO) allows you to have access to a dedicated team who specialises in IT to support your business and help you when any issues arise.

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