Swift, digitally-driven change is becoming the new normal and it can be tricky to keep up. The rapid arrival of new technologies – whether hardware, software or digital infrastructure – are helping create a business world that looks dramatically different from just a few years ago.
Whatever the industry sector, transformative technologies are constantly emerging. Organisations need to maintain an increasingly flexible approach to stay in the game when it comes to delivering competitive products and services to their clients.
The impact of technology change across industries
In the health sector, for example, new technologies are increasingly being harnessed to support more affordable and accessible healthcare. Although Virtual Reality (VR) has been used with medical students for some time, VR devices are supporting healthcare professionals and their patients with diagnosis, treatment plans and preparation for upcoming procedures. Telehealth devices are enabling patients to receive medical care through their digital device, rather than waiting for a face-to-face appointment.
Agriculture is another industry where digital innovations are fundamentally transforming production systems and supply chains. Increasing automation via large‑scale robotics and microrobots to check and maintain crops at the plant level is emerging. Air and soil sensors will enable real-time traceability and diagnosis of crop, livestock and farm machinery.
New technologies are also directly impacting education and learning systems. Whether it’s delivering custom learning experiences or education via cloud computing accessible anywhere and anytime, technology is increasingly becoming part of the educational experience.
Funding the change
Transformative technologies – exciting as they are – come at a price, with organisations looking to invest facing rising capital expenditure and maintenance costs. Rapid advances also mean organisations face the challenge of funding constant technological upgrades. Selecting the best fit solution from proliferating options is also difficult.
Fulfilling these technologically driven growth ambitions can be made possible through an asset financing solution from Maia Financial. Tailored finance solutions allow organisations to cost-effectively invest in the useful life of a current technology and then upgrade as more advanced – or lower cost – solutions become available.
Further, utilising a specially tailored financing solution may ensure an organisation avoids the problems inherent in capitally acquiring an asset and then making a financially-driven decision to sweat it beyond its useful life. This often chokes the innovation and development pipeline within the organisation and slows growth.
Leases can also be structured to include all the costs associated with implementing new infrastructure, including software installation and consultancy fees, together with servicing and decommissioning costs. This provides the necessary flexibility for organisations to adapt their technologies as their needs change.
Download Maia Financial’s new whitepaper 3 reasons to explore asset finance at EOFY to learn more about solving your organisation’s cash flow and capital challenges at the end of the financial year. Unlocking your hidden capital could bring new technology closer than you think.