Leveraging Technology in a Down Economy

 

Like many businesses, retail and hospitality organizations may be tempted to cut their information technology budgets during tough times. Companies struggling with slow sales and high fixed costs may see large-scale IT investments as a logical target for belt-tightening. In reality, technology investments that enable operational efficiency, reduce labor costs and improve customer service capabilities are some of the best business moves retail and hospitality companies can make. They can mitigate the worst effects of economic downturns, and also position these organizations to quickly gain market share, increase sales and boost profits when times begin to improve. Customer-facing applications, such as selfservice technology, and applications offering a fast ROI, such as lifecycle pricing, are just two IT investments that can pay handsome returns during economic downturns.


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