GUEST COLUMN:
Jesper With-Fogstrup
Group CEO
Moneypenny
Technology is a powerful tool for businesses, but for many, it can feel like a daunting prospect. At Moneypenny, we see how businesses of all sizes are embracing technology to improve efficiency, customer experience and staff retention.
We also recognise the hesitation – whether it’s uncertainty about where to start or concerns about cost. The reality is, technology isn’t something to be feared. When combined with great people, it can be a business’ greatest strength.
We’ve already adopted technology in our personal lives without thinking twice. Most of us wouldn’t consider driving somewhere new without using a sat-nav or an app for directions. It’s an everyday tool that makes life easier. The same mindset should apply to business. Whether it is customer interactions powered by AI in the back end, the automation of routine tasks or smarter scheduling, technology allows businesses to focus on what they do best.
At Moneypenny, we answer calls and manage customer interactions for thousands of businesses across the UK and US. Our clients, from legal firms to estate agents to small trades businesses, don’t need to be technology experts. What they do need is the right combination of human expertise and digital solutions to improve their customer experience and free up time for their core business.
One of the biggest challenges we see in some industries is a reluctance to experiment with technology. There’s more of a noticeable difference in approach between the UK and the US. American businesses tend to be more willing to try new innovations, even if they don’t work the first time. In contrast, in the UK and Europe, businesses often wait until something is fully proven before adopting it. This can mean missing out on early gains and learning opportunities.
For small businesses in particular, digital transformation can feel overwhelming. A plumber or a B&B owner may not see how it applies to them, but in reality, technology can streamline bookings, improve customer communication and even reduce admin time.
The key is to start small. Identify a task that could be improved, whether it’s handling customer enquiries or automating appointment scheduling, and test a solution. If it works, build from there. If it doesn’t, try something else.
The same applies to artificial intelligence. AI is evolving rapidly, but it’s not a replacement for people. Instead, it enhances what we do. At Moneypenny, we’re investing in AI to support our team, not replace them. It allows us to handle high volumes of customer interactions while maintaining the personal touch that our clients expect. The most effective businesses will be those that combine the best of technology with the best of people.
Technology can also play a role in staff retention. Many businesses, especially smaller ones, struggle because their employees are stretched across multiple roles. By using technology to reduce repetitive or time-consuming tasks, businesses can create a better working environment and improve job satisfaction.
For businesses unsure where to start, the best approach is to focus on what makes them successful. If a particular process or service is not your core strength, consider outsourcing it to a partner who specialises in that area. We see this every day with our clients – small businesses leveraging our customer service technology to offer the same high-quality experience as much larger firms. The same principle applies across industries.
Ultimately, the businesses that thrive will be those that are open to change. Technology is a tool, not a threat. By embracing it, testing new solutions and combining it with great people, businesses of all sizes can create their own superpower.
