TECH STRATEGY DEVELOPMENT

WHY

 

99.9% of successful businesses rely on technology to help achieve their goals. Even a funeral home has technology playing a key role in celebrating people's lives. Think about broadcasting of services to those who cannot attend, slideshows highlighting valuable memories. And music, assisting to highlight milestone moments or hilarious times. 

Setting goals and developing plans to achieve these goals is a fundamental element of running a business. It's impossible to imagine a business plan without a sales plan. Technology planning is no different.

So what is a Technology Strategy? A well developed technology strategy stems from the business goals. It considers how existing technology in use by the business is serving to achieve or potentially, undermine the goals. The strategy considers all stakeholders points of view. Owners, Management, Staff, Customers, Suppliers and Clients. The unifying element in, at times, disparate points of view from these stakeholders is the ultimate outcome of achieving business goals. Even so there are varying methods to achieve these goals by leveraging technology. So the strategy will need to be open to all ideas in order for appropriate judgement to be made in how it is best executed.

 

Elements that must be considered will also include:

  • Customer experience

  • Supplier integration

  • Operating efficiency

  • A disaster recovery strategy

  • Outsourcing opportunities (onshore and offshore)

  • Automation opportunities (especially of back office tasks)

WHAT

 

Whilst technology plays such an important role in success, few businesses engage truly independent advice to ensure that are making the right decisions. Businesses have trusted advisors when it comes legal matters (lawyers) and financial matters (accountants). Yet when it comes to technology their technology partners are not independent. When a technology strategy is being developed by an independent expert a large part of their skill is in identifying what isn't being said. In what isn't obvious. The capability to do this can only come through years of experience.

When developing the technology strategy the process will include considering:

  1. The goals of the business (financial, growth, sales, customer retention, marketing, logistics, etc)

  2. How current technology in the business can be leveraged to achieve those goals. Is it being maximised?

  3. What other technologies could be used to better achieve those goals?

  4. What's the business case for the adoption of new technologies?

There are several fundamental elements that must underpin every technology strategy upon which achieving business goals is essential. One of these is ensuring that business risk exposure through technology is understood and addressed.

HOW

 

Whilst technology plays such an important role in success, few businesses engage truly independent advice to ensure that are making the right decisions.

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99.9% of successful businesses rely on technology to help achieve their goals. Even a funeral home...

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