Chief Enablement Officer at Absa Bank Ghana, Ebo Richardson, has highlighted the need for businesses to leverage on the right technology for business growth.
Speaking on the theme – ‘Leveraging technology for business growth’ on the Citi Business Festival on-air series, he urged businesses to take advantage of technology in order to stay relevant during and after COVID-19.
Mr. Richardson shared some four principles that businesses need to consider in their approach to technology to enhance their businesses and stay relevant in the market.
According to him, technology is a key enabler for business growth, and businesses that do not leverage it will not experience the benefit of scale, speed, efficiency, and reach.
They will not be able to choose the best tools to work with.
“Whether you are micro, small or medium SME, you are doing the same thing, but it’s just the larger organizations that tend to have more complexity involved in their processes. So, we use technology to enable various aspects of business such as production, sales and marketing, and servicing. And we do that to make sure that we get the benefit of technology, which is scale, speed, efficiency, reach. These are the things that technology is essentially bringing to us,” he said.
He also explained that businesses can do away with technology, but they will eventually miss out on a lot of opportunities.
“You can bank without technology, but you will miss out on opportunities. You can distribute bread without technology, but you may miss out on how many customers you reach. There is a lot of things that you can still do without technology, but you will not get the speed, scale, reach and efficiency,” he added.
The COVID-19 outbreak, which expanded from a global health emergency to a global pandemic, saw many individuals and companies making full use of digital technologies to confront a wide range of pandemic-related issues.
This year’s edition of the Citi Business Festival is brought to you by Citi TV/Citi FM and Absa bank. It is supported by GIPC and Ghana’s most comprehensive business news website; citibusinessnews.com.