The Importance of Having A Good Technology Strategy
Technology underpins the success of the majority of businesses in today’s world. Whether it is a small or medium-sized business selling products locally or a multi-national company that reaches every corner of the globe; a good Technology Strategy is essential.
Technology evolves at a rapid rate. Therefore, it is vital that any organisation deals with the challenge through the implementation of an effective plan that will help them to prioritise and budget accordingly.
An effective technology strategy will make it possible to prioritise resources and funds for all initiatives and projects that will benefit the organisation in a way that will allow it to grow and evolve. The majority of technology strategies will look ahead by three to five years, and they will consist of goals and objectives as well as principles that can help to guide the plan and the business as well.
Of course, strategies can vary, and this can often be down to the size and type of business. However, its importance should always be acknowledged. Mainly, plans should be specific and actionable, whereby they detail the required resources, costs and timeframes. However, those that are more general in nature will be down to senior management to ascertain the specifics to meet goals and objectives.
How a good technology strategy underpins the business strategy
A technology strategy will have four main functions;
Initiate
The first is for the IT department, manager or managed service to initiate discussion with senior management to identify the investment that is required. When it comes to new projects that can help to drive a business forward, the technology strategy will be used to as part of these discussions. It will make it easier for management to understand how investment should be balanced and how projects should be prioritised in line with other functions of the business. It will essentially make planning a lot more efficient and precise.
Plan
Secondly, the technology strategy will play an influential role in the way projects, and resources are planned. It will help to identify the needs of the business from an IT perspective and highlight all resources that are required while software and vendor selection will also be made simpler. Having the ability to anticipate these costs and timings will make it possible to plan and implement all changes so that they fit into the primary functions of the business.
Create
Thirdly, management will have a greater understanding of what is required and how their departments will not only benefit but how the technology strategy will affect each department. It is crucial that each strategy throughout the business work together and so, the technology strategy will feed into this, enabling management to understand which technology priorities should be rolled out across the organisation. Through active management, the technology strategy will align itself more positively with executive decisions before projects begin.
Maintain
Finally, management and IT can focus on maintaining the strategy in a proactive nature to make sure that the technology continues to align with the needs of the business and its customers.
Who benefits?
The technology strategy is designed to underpin the communication that takes place between the IT department and management in a way that enables the IT departments to work strategically when managing projects and making investment decisions. Management and business owners will benefit because it allows improved negotiations to take place when there are requests for new projects or initiatives.
When it comes to business goals, the technology strategy will enable management and executives to think strategically when they request improvements in technology or even consider the use of new technology. Their functional strategies can be used with IT management to determine which technology project will benefit the business and help it to meet its goals in the short or long-term.
The transparency that comes with a technology strategy will make all required resources easy to identify when it comes to staff being assigned to IT projects. It will also make it possible for management to trace costs and detail exactly why the money and resources are required.
The needs of a business can change and so, taking a strategic approach will provide a structure by which management will listen to the needs and input from a technological perspective, particularly where IT support will be required. This will ensure that priorities are balanced, which in turn will enable businesses to grow and push forward in a way that consists of very little conflict across departments where all are aiming to meet the same mutual goals and outcomes.
How CYAN Solutions can help
We can assist with IT planning, strategy creation and ongoing maintenance. Through aligning themselves with your business, CYAN Solutions can deliver solutions that get results and enable your business to reach its targets. The aim is to help your business get as much from your investment as possible through tailoring a platform that has been designed to your specific needs.
Finally, CYAN Solutions can help to manage and maintain a good technology strategy, helping you to work productively by ensuring maximum uptime as well as continuing vital security measures. To find out how CYAN Solutions can help to align your technology strategy with inspiring solutions, call the team on 02392 333 365.
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