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Your tech venture is more likely to succeed if you do this

Jan 11, 2023

Why more than 70% of technology implementations fail

Technology implementations can often fail for a variety of reasons, but one of the main reasons is the way in which providers charge for their services. Specifically, many providers require upfront payment for their technology, rather than allowing customers to make monthly payments. This can create a number of problems for both the customer and the provider.


One of the primary issues with upfront payment for technology is the cost of updates and upgrades. When a customer pays for a technology solution up front, they are often responsible for covering the cost of any updates or upgrades that are required to keep the technology current. This can be particularly problematic for customers who are using complex or rapidly evolving technology solutions, as these solutions may require frequent updates and upgrades.


Another issue with upfront payment is that it can create a disincentive for providers to build high-quality technology solutions. When a provider receives payment up front, they may not feel as much pressure to ensure that the technology they are providing is of the highest quality and able to meet the customer's needs. This can lead to technology solutions that are not fully functional or that quickly become outdated.


On the other hand, when a customer pays for technology on a monthly basis, it creates an ongoing relationship between the customer and the provider. This means that the provider has a vested interest in ensuring that the technology they are providing is of high quality and able to meet the customer's needs. It also gives providers an incentive to continuously improve their solutions to retain the customer.


Additionally, having the ability to make a choice on a service provider is vital. Customers should have full access to the source codes of their technology solutions so that they can switch providers whenever they need to. This is important for ensuring that the customer is always able to find the best solution for their needs, and it can also help to create a more competitive market for technology providers.



Another aspect to consider is the cost-benefit of paying monthly. It is often less expensive to pay for technology on a monthly basis, especially when considering the cost of updates and upgrades. Monthly payments can also make it easier for customers to budget for their technology expenses, which can be particularly helpful for small businesses and startups.


In conclusion, while there are many reasons why technology implementations can fail, one of the main reasons is the way in which providers charge for their services. Upfront payment can create a number of problems, including the cost of updates and upgrades, and can also create a disincentive for providers to build high-quality technology solutions. On the other hand, monthly payments can create an ongoing relationship between the customer and provider, give more flexibility in switching providers and also provide more cost-efficient approach.


8 Connect Consulting is an award-winning digital advisory that provides more than 200 agencies and business owners with technology that works. Our experienced team understands the importance of selecting the right technology solution that fits the specific needs of the organization and providing ongoing support to ensure long-term success. We work closely with our clients to understand their unique needs, and offer a wide range of technology services, including consultation, implementation, and ongoing support to ensure the best outcome for our clients.


What sets 8 Connect Consulting apart from other providers is our full suite of capabilities. We don't just offer technology solutions, we offer a complete suite of services that can help businesses succeed. This includes News Media and Fund Raising networks. Whether your business needs a new website, news coverage, or access to funding sources, we can help. We are committed to supporting our clients through every step of the process, from initial consultation to ongoing support and maintenance.


Contact us today to learn how we can help your organization win with technology.

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