Tech companies around the world herald the bottom line impact of investing in new technologies. The benefits are clear – get ahead of competitors (and make more money), save costs (and make more money), streamline resources (and make more money), and of course, it's a surefire way to make more money.
But exactly how much money will a tech investment make you?
ROI calculators for everything from fintech to agritech investments exist in all shapes and sizes for specific types of products and services. And the Australian government is now pushing business leaders to recognise that general investments in new technologies could boost wages by a whopping $3,000 a year.
It sounds easy enough, and yet Australian organisations are also being called out for being behind global counterparts in tech adoption. Whether this is because of shifting investments in the Innovation Agenda, adjustments to R&D tax regulations, or as a long-term result of Australia's ingrained business culture, is up for debate.
What's clear is tech companies have a timely opportunity to re-shape how they position their value to deliver real impact – not just on other businesses, but on individual Australians' livelihoods. The time is ripe for tech marketers to re-visit their corporate positioning, and assess whether the value-add is focusing on what Australians genuinely care about.
If the ship seems too big to turn, consider this - there's not an Australian I know who wouldn't appreciate a $3,000 bump in wages.
Josh Frydenberg will issue a rallying call to company bosses to invest more in new technologies — rather than returning excess cash to shareholders — in a bid to kickstart flagging productivity and boost wages by $3000 a year. In a wide-ranging address to the Business Council of Australia, the Treasurer will today question whether the nation’s biggest corporations have been “aggressive enough in the pursuit of growth” or too heavily focused on returning extra capital to shareholders or sitting on idle piles of cash.