Does it make sense that spending money on updated technology will actually cut costs for my company? YES! That is so long as everything that you purchase suits your company’s needs. Costs will not be cut if you overbuy and purchase hardware or software that is not the right fit for your company.
There are endless examples where a company can spend some money on technology, but in the long run saves a lot of money because of the increase in business productivity. For example, an employee might spend hours looking for a document that a fellow employee emailed them, but if they had just saved it to a file on the network this could become a process that would take less than a minute. A lot of employees benefit today, from their companies offering them smart phones to use for work purposes. Whether it is the ability to instantly respond to an email through their smart phone, or simply being able to reach an employee who is out of the office, the technology of employee’s having phones certainly can increase productivity for some companies.
Overall, an increase in technology can absolutely lead to a decrease in wasted time in the workplace. However, when a company is looking to add on to their technology it has to be the right fit. You do not want to over complicate things, but you do not want to get too little either. Every company is different and has a different technology need, what is yours?