Faster and meaningful technology adoption is not only critical for accelerating business growth, but in this era of cut-throat competition and demanding customers, it is vital for survival. No matter what the size of an enterprise is, technology has tangible and intangible benefits at all stages of its growth. Timely performance measurement of the existing technology stack and further investment in technologies that push the business towards growth has become essential for an organization’s success.
In the TEITM study commissioned by Synoptek, Forrester studied one of Synoptek’s clients – a nonprofit healthcare agency. The client struggled to derive value from their technological investment before Synoptek came onboard. In our discovery meetings with the client, we gauged that they had issues that most organizations face when operating without a robust and measurable IT plan. The client had limited technology leadership and talent in-house, failed to balance performance, security, and new technology adoption, and faced challenges in modernizing their ecosystem and harnessing the full potential of their existing technology stack.
When Synoptek came on board, our first step was to assess the client’s business and technology state using our proven Capability Maturity Model. Through the assessment, we concluded that the client was at a maturity level of zero – which meant there was no discernible IT strategy and vision. Based on our review of their challenges and capability maturity, we developed a solution roadmap that helped the client get technology-business integration guidance from our expert consultants, standardize and automate internal processes, improve service levels, and optimize resource utilization by allocating dedicated, shared, and fractional IT resources.
Synoptek’s Capability Maturity Model
Our discovery process and Capability Maturity Model are vital to our solution design process as we use them to baseline our client’s real business challenges and understand what can help us deliver truly differentiated results for them. While in this client’s case, we started with a goal of reducing cost and risk and positioning technology to drive sustained business results, eventually we enabled the client to get 188% ROI on their technology investment.
Apart from accelerating business growth, technology also impacts the culture, efficiency, and relationships of a business – and it is essential to measure its full-scale impact to understand how technology can transform an organization. While some of the benefits are obvious and upfront, others are layered but equally important. With the client interviewed for the TEITM study, the quantifiable benefits were:
- 188% return on investment (ROI) over three years
- Technology environment stabilization in 90 days from level 0 to level 2
- Revenue increase by $2,934,847 over three years
- Employee productivity increase by 161 hours per year
- Savings from operating efficiency increase from leveraging Synoptek shared services by over $1.5 million
- Savings from accelerated run time and minimize downtime by $4,134,890 over three years
However, there were other unquantifiable but equally important benefits such as:
- Improved organizational stability and enhanced strategic vision
- The flexibility to structure its internal leadership and IT team in a manner that best suits organizational objectives
- Improved employee morale
- Better mobilization of workforce
The TEITM study gives more significant insights into how an organization and its technology partner can come together to accelerate business results through proven technology planning, implementation, and operations methodologies. The four key takeaways from the study are:
- Correctly assess your challenges and capabilities
- Timely identify and implement the right impactful projects and technology
- Effectively operate and constantly evolve those technologies to get the most out of the investment
- Partner with a technology and services provider with proven leadership and results
