Many organizations treat technology as a commodity, focusing only on cost and maintenance rather than leveraging it as a strategic enabler for growth, efficiency and innovation. The key is shifting the mindset from “technology as an expense” to “technology as a strategic enabler.”
Marc Berthiaume
Strategic planning: One of the differentiators of organizations that value technology is reflected in annual strategic planning sessions. It is customary for representatives from operations, finance, sales and leaders of other critical aspects of a business to maintain a forward-looking strategic plan of 3-10 years. Does IT leadership have a seat at the table? It is no longer enough to align IT with business strategy; your competitors are developing business strategy while viewing IT as a critical enabler.
Progressive organizations understand that involving senior IT leadership in future planning yields long-term value and provides competitive advantages. Distinguish your business by leveraging emerging technologies such as AI and automation, cloud computing, data-driven decision-making and security compliance.
AI and automation: AI is a top priority for large enterprises. This interest is quickly rolling down to SMBs. AI is being integrated into line-of-business applications to optimize workflows and automate repetitive tasks. AI tools are embedded in your computer’s user interface and available on the internet to increase staff productivity by improving communication and augmenting decision-making.
AI is also being used to enhance customer satisfaction with 24/7 AI assistants and customer experience personalization. Embracing AI for your organization includes education and training to take full advantage of opportunities while understanding and mitigating risk.
Cloud computing: Moving operations to the cloud and leveraging Software as a Service (SaaS) applications provides for 24/7 global availability of secured and patched applications, and improves productivity while ensuring business continuity. Cloud computing allows for quickly scaling processing power up or down to accommodate business peaks and take advantage of reducing costs in off hours.
Data-driven decision-making: Every business collects data. Data that costs time and money to collect, store and harvest. Take advantage of your data asset by investing in business intelligence tools and systems to promote data-driven decision-making. Consider using analytics and business intelligence tools to make informed decisions and implement predictive modeling to optimize operations and customer engagement.
Security compliance: Cybersecurity is a constant presence in the news. Bad actors work 24/7 using AI and other sophisticated tools to compromise organizations by accessing their data, holding systems for ransom and transferring assets. If your organization is investing in developing the requisite policies, security layers and systems monitoring to comply with SOC 2, ISO 27002, HIPAA or GDPR for example, celebrate it and leverage your compliance as a strategic business enabler to build customer trust and gain a competitive edge.
Measuring IT’s value: Invest in technology that drives innovation, improves customer experience and increases agility rather than just minimizing expense by focusing on value, not cost. Measure IT’s impact on revenue, customer satisfaction and efficiency by developing key performance indicators (KPIs). Monitor your investment in IT by measuring, tracking and reporting on its impact on your organization.
Investing in technology: To successfully shift from technology as a commodity to technology as an enabler, organizations need a strategic approach that aligns IT investments with business goals. Do you really want to put the future of your business in the hands of vendors selling products and upgrades? Invest in technology that supports business-driven outcomes.
Fractional/virtual help: Take advantage of fractional or virtual CIO and CTOs. This is a cost-effective solution for gaining access to high-level-results–focused technical expertise.
Organizations that view technology as an enabler rather than an expense gain a competitive edge, improve efficiency and drive innovation. Be the business that drives your competition to keep up with your innovation.
Marc Berthiaume is the senior director of client technology at Mainstay Technologies.
