Technology is the fuel powering every business today. Yet, when it comes to embracing new tools and systems, a large percentage of businesses end up taking a chaotic and ad-hoc approach to tech investment. This is because they lack a well-planned and well-thought-of technology strategy.
What does it take to build a successful technology strategy? What are the key elements of such a strategy? How can you achieve long-term success with your technology strategy? Read on to uncover insights shared by technology advisory consultants.
The Importance of Technology Strategy
The pressure of digital transformation has every organization implementing the latest innovations. But such ad-hoc implementation of new tools can lead to a complicated IT mess. Not only will the IT ecosystem be difficult to manage, but it will also add to unnecessary costs of maintenance, integration, and support.
Instead of every team or department deploying apps and platforms to meet unique needs, having a robust, enterprise-wide technology strategy in place is vital. The right strategy can help clarify the need for technology from the beginning. It can help set up the right processes and engage the right individuals from the outset. It can also empower the organization to operate more efficiently and inherently gain a competitive advantage.
A well-planned technology strategy helps answer some critical questions, including:
- Why do we need this new technology?
- Which teams will benefit from it?
- How much will it cost?
- What changes will we make to integrate this new technology into the business?
- What is the risk of downtime?
- What training is needed to accustom users to this new technology?
- How will the new system be maintained and supported?
- What vendors or partners will it involve?
Technology Strategy Implementation: 6 Must-Haves for Success
A well-developed and well-embraced technology strategy can help you streamline the technology adoption journey. It can help set up the ideal roadmap and ensure you have the necessary buy-in from people at the top.
That said, here are 6 technology strategy must-haves from Technology Advisory Consultants:
1. Understand Business Drivers
The first step in building a successful technology strategy is understanding business drivers. Since every organization has different needs, these drivers may range from improving profitability, enhancing customer experience, outdoing competition, minimizing technical debt, etc. Such clarity will help you articulate the logic behind technology choices and ensure you make the right technology decisions.
Exploiting the benefits of the latest technological innovations begins with a deep understanding of your business goals and a corresponding analysis of which technologies will help meet those goals. According to AK Nandwana, VP of Business Applications at Synoptek, “Technology must be deployed with business drivers and best practices in mind. By doing so, organizations can avoid common pitfalls and challenges related to the development and implementation of new applications”.
2. Engage the Right People
When developing a successful technology strategy, it is crucial to engage the right people. Embracing Technology Consulting Services can help in specifying responsibilities for managing the tech landscape and driving efforts toward future scalability. This helps ensure that the strategy caters to business and technology requirements and is easily understood and willingly embraced by all.
“When the time comes to expand and scale your organization, connecting with the right Managed Service Provider (MSP) is imperative. With the expertise and experience of the right MSP, you can be sure to successfully implement and fully leverage cutting-edge technology solutions and take your business to the next level”, says Angna Thakkar, Director of Dynamics AX at Synoptek.
3. Ensure Comprehensiveness
When it comes to crafting a technology strategy, it is very easy for CTOs to develop something that caters to immediate pressures. However, a short-term strategy is most likely incapable of meeting long-term goals. If you want to streamline the deployment and adoption of technology innovations, it is important to build a comprehensive one that aligns with the larger goals of the business. You can then proceed from generic to specific to meet the unique needs of different departments and stakeholders.
“The most important aspect of identifying an IT strategy is understanding common strategic goals across the organization while simultaneously keeping the participating business units top of mind,” says Gitesh Tripathi, Senior Director of Delivery and Technology at Synoptek.
4. Make Sure It is Business-Driven
“Business agility is one of the hallmarks of successful companies in today’s rapidly evolving business landscape. An organization needs to be able to swiftly pivot and change direction to take advantage of emerging trends and altering business requirements”, says Darren White, Practice Director of Cloud Advancement at Synoptek.
Since technology is a strategic business asset, any strategy you build must be business driven, spanning 3-5 years into the future. It should have the support of your business leaders and should have clear and measurable results. Building a business-driven technology strategy can go a long way in driving the best ROI from your technology investment. It can also help you leverage technology in a way that drives the best business results.
5. Prioritize User Experience
The success of any technology strategy depends on how well your employees can leverage it. Prioritizing employee (and customer) experience is a critical part of the process. Educating your workforce on the need for new technology systems and training them accordingly can go a long way in improving adoption. Keeping employees at the center of your strategy process can also help in understanding and addressing their concerns and ensuring a seamless user experience.
“By putting users at the center of their decision-making and investing in initiatives and technologies that enhance their experiences, businesses can positively differentiate themselves from competitors and build strong reputations,” says Brett Sharp, Senior Director of Customer Experience.
6. Strengthen Your Change Management Game
Building a technology strategy isn’t just documenting a few policies and practices. Since new technology adoption can bring substantial changes in day-to-day processes, it is important to minimize disruption through effective change management.
“The success of any organization heavily relies on the productivity and satisfaction of its employees,” says David Tinucci, Practice Director of Growth Services at Synoptek. Having a strong change management system in place can help you transition to new ways of working with minimal resistance. It can improve communication, reduce stress, and ensure high levels of employee productivity and morale.
Curate the Ideal Technology Strategy With Synoptek
In today’s era, technology creates several opportunities for efficiency, growth, and scalability for businesses. Organizations that drive favorable business results share the common trait of relying on Technology Consulting Services to craft a robust technology strategy.
Embrace these tips today and successfully leverage technology to support your overall corporate strategy.
