Technology in business terms can be defined by the following parameters:
• The time reduction achieved compared to traditional practices for production or functional delivery.
• The sustainability duration of the technology in the market to achieve optimal returns.
• The major cost components required to maintain and continue with the current technology.
• Service aspects post-delivery, including costs to the company for maintenance and support.
If all these parameters align with the business strategy, the technology can be considered optimal. However, the world is rapidly evolving, with technological upgrades and replacement of legacy systems being inevitable. The same principle applies to process and service industry offerings and their sustainability timelines.
COMPAXED provides the following technological consulting services:
• Assessment of technology applicability on the demand side.
• Cost evaluation for technology upgradation versus full capital deployment for a new setup.
• Contract management for business development, including commercial, risk, and legal terms for high-value transactions.
• Operation and maintenance agreements for capital goods.
• Parts and consumables management, including stocking and agency appointments for operations and maintenance.
• Market research, competitive analysis, and business expansion opportunities through SWOT assessment.
• R&D assessment and operational analysis to optimize technology utilization.
