Technology Assessment & Strategy: An Enabler for Sustaining Business Growth

Business - IT Alignment Series

Technology Assessment & Strategy: An Enabler for Sustaining Business Growth 

Every business aims for growth. This is evident in the content of their multi-year strategies and annual plans - the objective is always to do better than the last strategy cycle or the last financial year respectively. It is also evident during monthly performance reviews - questions are often asked about why targets were not met and what can be done to close gaps and achieve the plan for the year.

While these are good conversations to have, far too often there is a disconnect between the pace of business growth and the enablers required to sustain that growth. When a business grows faster than its technology can support, the business can face several challenges including technology, people/ skills, operational and strategic/ competitive challenges. This post highlights the technology challenges that tend to happen when a business grows faster than its supporting technology.

As businesses grow, the technology that underpins their operations must evolve in tandem. Failure to modernize can lead to significant challenges, including:

• Legacy Systems Struggling to Keep Up: dated systems may hinder scalability and often lack compatibility with modern applications. 

• System Downtime and Performance Issues: aging infrastructure is susceptible to failures, leading to increased downtime and resulting in operational disruptions.

• Security Vulnerabilities: legacy systems often lack up-to-date security measures, making them prime targets for cyberattacks.

• Data Silos and Integration Issues: older systems may not integrate seamlessly with newer technologies, leading to isolated data repositories which hampers data accessibility and impedes informed decision-making.

Neglecting these challenges can have severe repercussions, including:

• Operational Inefficiencies: Increased downtime disrupts workflows, affecting productivity and profitability.

• Security Breaches: Outdated security protocols can lead to data breaches, resulting in legal liabilities and reputational harm.

• Stagnation: Inability to integrate new technologies can prevent businesses from capitalizing on growth opportunities.

If your business is grappling with similar challenges or, it's imperative to take proactive steps:

• Assess Your Technology Landscape: conduct a thorough evaluation to identify pain points and areas requiring change or modernization.

• Develop a Strategy: craft a technology strategy and change roadmap that aligns your technology with your business objectives.

• Execute on Your Technology Strategy: implement your technology roadmap to put required changes in place.

Get Started

Your business is already on the path of growth. Don't let suboptimal technology enablement hinder your business' potential. Start by assessing your technology landscape and crafting a business-aligned technology strategy.

Need help conducting a technology assessment or crafting a technology strategy? Let’s talk. Contact us to discuss or schedule a free consultation.