Leveraging Technology in Business

Leveraging Technology in Business

Leveraging technology in business today is critical for small and medium sized businesses.  It allows them to compete with larger companies.

If the last two decades have taught us anything, it is the reality that small firms can quickly become leaders in their industry. Some of the largest Fortune 500 companies today were merely startup companies in the early Millennium, taking full advantage of a technological revolution to outperform their competitors and achieve unprecedented growth.

Today, competition with large firms is still invariably one of the greatest challenges small and medium-sized businesses (SMBs) face. Contrasting with small firms, large enterprises have a plethora of resources and can achieve economies of scale, making it easier for them to underbid their competitors. Nevertheless, SMBs can remain competitive in this environment, as several advantages come from being small.

The Advantages of Being a Small Engineering Business

In many cases, small firms are more agile, notwithstanding the preconceived notion that larger firms can move faster due to their larger workforce. Conversely, large enterprises are often bound to corporate bureaucracy, delaying processes and ultimately placing constraints on how they do business. Also, since SMBs typically have a smaller client base, their better suited to cater to the individualized demands of their customers and are prepared to make exceptions when needed. This flexibility, however, requires deliberate action as small firms carry the obligation to prove that they are as capable, if not more capable than their larger brethren.

In essence, small firms need to regulate the perception that their potential lack of personnel is a weakness but instead present it to prospects as an advantage. Many contracting companies subscribe to the fallacy SMBs are incapable of achieving high-quality results within the same timeframe as larger firms. And, while small firms still need to keep their projects within the breadth of their organization’s capabilities, much of which they aim to achieve proceeds from hiring the best engineers for the job. In this case, educating customers about the expertise offered by their engineers is the best way to handle apprehensive prospects.

While organizations need to have a team with a track record of success, this is difficult to exhibit unless your team has experience working on large projects. SMBs need to showcase the projects they have completed and outline to prospective clients the achievements of their engineers as individuals.

 

The Advantages of Being a Large Company

There is not much to say about large firms aside from the obvious. Large firms have a critical yet intangible asset that most small firms lack – their reputation. Established organizations may have an easier time obtaining public projects, as public organizations often use their reputation and brand equity as the foundation for their search. Large companies also typically have access to more capital, and therefore can launch extensive marketing campaigns, hire large multidisciplinary teams, and invest heavily in research and development.

Additionally, large companies can offer better compensation packages, enabling them to hire some of the best and brightest engineers. Although not all engineers are interested in working for a large firm, it may be difficult for smaller companies to meet their staffing requirements, as the employment landscape is becoming much more competitive in these fields.

 

Leveraging Technology in Business Today

What can smaller firms do to counteract the advantages larger firms have. Smaller firms can level the playing field by implementing digital solutions in their business. While small firms may not have the funding or workforce to compete with larger firms, they can reduce their employee’s workload by automating activities to improve the productivity of their workers and achieve profit margins closer to what large organizations command. Leveraging technology in business today is critical for small and medium sized businesses.

While it's clear small businesses may not be well-equipped to handle all projects that get thrown their way, they can still improve their chance of winning a bid over their larger competitors (or other small businesses) by implementing a robust workflow and document management solution, like ImageSite. Managing files, document versions, and the workflows that encompass them are essential to engineering processes and if companies can automate their workflow management procedures, they should can improve their competitive advantage as well.

 

Our EDMS solutions

ImageSite and EngineBox are eQuorum’s robust workflow and document management solutions, created to help workers manage their essential workflows while maintaining complete control over their engineering files and documents.  Not only do they provide a secure collaboration site for workers, but they also help organizations manage document distribution with third parties like vendors, contractors, and customers. Both systems are offered at a competitive price, enabling organizations to get a quick return on their investment by providing the features and functionality needed to help organizations improve efficiency, productivity, and collaboration.  Companies can choose from concurrent user subscriptions or named user subscriptions, ensuring organizations have subscription options that make sense for their business.

Learn more why our solution is trusted by industry leaders.

ImageSite

ImageSite®

Our single source engineering workflow and document management system. Built in HTML5 so there is no software to deploy to client computers or mobile apps to download. Offered as an On-premise or Private Cloud system.

Explore ImageSite® 

EngineBox™

EngineBox is a cloud based workflow and document management version of ImageSite that resides outside the corporate network.

Explore EngineBox™

 

Our EDMS solutions

 

ImageSite and EngineBox are eQuorum’s robust workflow and document management solutions, created to help workers manage their essential workflows while maintaining complete control over their engineering files and documents.  Not only do they provide a secure collaboration site for workers, but they also help organizations manage document distribution with third parties like vendors, contractors, and customers. Both systems are offered at a competitive price, enabling organizations to get a quick return on their investment by providing the features and functionality needed to help organizations improve efficiency, productivity, and collaboration.  Companies can choose from concurrent user subscriptions or named user subscriptions, ensuring organizations have subscription options that make sense for their business.

Learn more why our solution is trusted by industry leaders.

Engine-Box

EngineBox™

EngineBox is a cloud based workflow and document management version of ImageSite that resides outside the corporate network.

Explore EngineBox™

The eQuorum Customer Promise

In 2005, eQuorum developed the first all browser-based EDMS. The system, although for on-premise use, was still created to remove client software and JAVA from user computers and allow users to have a single viewer based on the simple navigation functionality of browsers. Today, eQuorum provides that same application in a private Cloud or a SaaS Cloud option.  We can do this because we are, and have always been, browser-based, understanding the enhanced speed, security, and usability of this technology.

With the abundance of document management systems on the market today, there’s no doubt that choosing the right Cloud document management software can be a difficult decision. eQuorum is here to provide a comprehensive, powerful, and most importantly – affordable Cloud document management solution. We believe in providing real value to our customers by eliminating unnecessary costs, providing industry-leading functionality, and equipping your team with the right tools using cutting edge technology to bring your products to market faster.

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eQuorum®

We specialize in engineering workflow and document management. Our comprehensive, yet easy-to-use software provides the solution to manage data from design to manufacturing and production, to sales, support and administration.

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