As a franchisor, there are many day to day business decisions that require careful attention. From obtaining the correct franchisees and nurturing secure relationships with them, to managing infrastructure and sales, it can be challenging. Thus with all these demanding tasks, it is easy to overlook the importance of your business technology stack.
Yet, one of the biggest influences for franchisors has been technology. Technology is evolving at an unprecedented scale, transforming so fast and bringing change to many if not all business functions perpetually. If we just go back even a decade we’d see the following:
- Social media – the sharing of personal information was on a public forum was unheard of in the past.
- Mobile phones were exactly that – phones. Used primarily to communicate with peers.
- The concept of cloud storage was in its beginnings.
- The emergence of Big Data being utilised in business.
It goes without saying that modern day technology has been the sole driver of the rapid moving change that has affected every aspect of business operations. Knowing this, it is crucial to know WHICH technology is most suitable for your business. That’s where the Technology Stack comes into play. In this post, I will delve into the various aspect involved in choosing the correct tech stack for your company.