Finding the right technology without jeopardising the business financially or functionally can be a daunting task, but all the same, it's an essential requirement in delivering the benefits of modernisation and growth. 

What's needed is a flexible and well thought-through information and communications technology (ICT) infrastructure and strategy that suits your company's individual needs and priorities.

So here's a brief A-Z of existing and emerging technologies that can help your business succeed without breaking the bank!

A is for....

Application Service Provider (ASP)
An ASP will allow a company to rent and utilize software over the Internet.  Without the need for any heavy initial capital outlay, most ASP systems are supplied as a complete, managed service, and are thus a way for businesses to subcontract aspects of their technology requirements and experience advanced software applications that might otherwise be out of their price range for a manageable monthly fee.

B is for....

Broadband
Broadband refers to telecommunication in which a wide band of frequencies is available to transmit information.  Subsequently, information can be sent concurrently on many different frequencies or channels within the band, allowing more information to be transmitted in a given amount of time (much as more lanes on a motorway allow more cars to travel on it at the same time.) Broadband is distinct from Narrowband, a term used to define traditional modes of transmission such as an analogue telephone line.

C is for....

CAD/CAM
The most recent systems allow the option to work more closely with clients and suppliers, sharing drawings and designs, and allowing all parties to track the process through from sketches to production.  With the ability to observe and comment on work-in-progress, huge advantages can be had, such as reducing the amount of prototyping needed and ultimately cutting the cost production.

CD-ROM storage
With the ability to store all types of data on mass, CD-ROMS are cheap, and offer an ideal substitute to printed material as well as providing a secure way of archiving information.  As a result network storage space is freed up, data can still be searched and found more quickly and easily, and robust copies of important documents can be made inexpensively.

Contract management software
If your business can manage information well, then it will perform well. Contract management software clusters information together in the most practical and accessible way, so that it's easy to locate and share without the necessity to search in disparate places.  In particular, it can be beneficial when it comes to diary management, creating reports, improving customer service and maintaining records.

Computer Telephony Integration (CTI)
By linking up your computers and telephones to operate all your voice, fax and data traffic, CTI can radically enhance the value of your data management and phone system. You could cut operating expenditure and improve standards in customer service, particularly if your business does a lot of telemarketing.

D is for.....

Data Storage
You take a great risk if you don't have a back up, storage or recovery system.  All computers create data, but if the only record your company has of its products and operations is on its hard-drive, you'd be well advised to use a data storage system.  The major advantages are it protects against any critical information being lost in case of system failure through power cuts, system crashes or virus infections and it reduces costs (to replace data lost would be significant without it).

E is for.....

Electronic Data Interchange (EDI)
An agreed standard (language) that allows the secure electronic exchange of business documents such as invoices or purchase orders is essential for effective e-commerce trading. EDI does exactly this and benefits the company by saving time, avoiding the risk of human error, improving cash flow, increasing efficiency, and cutting costs.

Electronic payment
A website that can receive online payments offer the purchaser convenience and simplifies the purchasing cycle.  In turn, this means you can avoid the delays incurred by sending cash or cheques by post, online payments ensure you're open 24/7, and banking processes become automatic, so costs are reduced.

Extranet
An extranet is a network that enables you to share specific areas of business information, such as a password-protected page on a web site, with selected users.  Delivering security and confidentiality, it allows your company to work more closely with its supply chain partners as an information source, to develop working practices or to exchange substantial amounts of data using EDI.

I is for.... Intranet An intranet is like a company version of the Internet, allowing employees to communicate with each other through the sharing of information, resources and applications that they choose to make available. Being relatively inexpensive and easy to use, the benefits include better company knowledge management, better productivity and ultimately, superior customer service. M is for.... Mobile communications The benefit of mobile communications technology is about more than just a simple mobile phone or a cumbersome laptop. It should allow you to keep in touch, receive emails, voice, and high speed Internet access while you're out and about. With a notebook PC, a web enabled Personal Digital Assistant (PDA) or Wireless Application Protocol (WAP) enabled phone, you can continue to work effectively and respond quickly no matter where you are. N is for.... Networking Electronic networking has become essential to good communication.  By providing the ability for one computer to communicate with another, the sharing of hard disk drives, printers, databases and software programs, networking has become an essential part of business practice. O is for.... Open Source Software (OSS) This is software that does not conceal source codes - a source code being the programming language in which software programmers create an application. The codes are the equivalent of engineering drawings, schematics or blueprints used by industries which then go through manufacturing procedures to convert those descriptions of a product into actual goods. The vital difference here is that in the software industry the descriptions are the merchandise itself. Open Source Software licenses the source in ways that allow you to alter it for your benefit, and because it coincides with published standards it allows you to choose best-of-breed implementations.  In a nutshell, it prevents you from being bound to any one particular supplier, opening the door to free and reasonable competition in the software market place. V is for.... Voice over Internet Protocol (VoIP) VoIP or IP telephony allows you to make much cheaper phone calls using a computer network such as the Internet or your Local Area Network (LAN), instead of the traditional phone system.  Because voice data is compressed with VoIP and transmitted over a computer network, it uses up to 90% less bandwidth than a standard phone call and is thus more cost effective and more efficient. W is for... Wireless Communication Wireless technology eliminates the restrictions and hassle that come with pricey, disorganised wires and cables and carries wired networks to places that cables cannot.  Because of the varying areas that different kinds of wireless technologies cover, businesses can adopt whichever suits to gain increased flexibility and cheaper ways of sending and receiving data. There are many other ways in which you can use technology to improve your business success, many enabled by the  Internet. However, the bottom line is you need a clear business strategy in place first.  Nick Watson of Cisco Systems, offers this advice: "The first thing companies should do is to clarify their business strategy, identify where they want to be not only today but also tomorrow. If necessary, they should seek out a partner who can provide trusted advice on how best their ITC strategy can enable their business strategy whilst they remain focused upon winning business." "S" is for . . . sound advice.