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Slow Illuminated Sign On The Floor

Why slowing down can help your business speed up

by Bill Robertson

Summary

Technology planning is key to business success

Time: 4 minute read
Running a company of any kind means that you are likely to spend a lot of time in planning mode, mapping out the future for various elements of your business.

Businesses consider many areas when planning: finances, growth strategy, marketing sales and more. Unfortunately, many businesses one key area: technology planning. It's entirely understandable why this is the case. Technology is often viewed as nothing more than a set of tools (and a cost center) required to get work done as opposed to strategic technology planning – which could turn IT into a revenue generator. The “if it ain't broke, don't fix it" mentality is pervasive in companies of all sizes, so there is a natural tendency to only think about technology when something needs to be replaced. This is especially true in organizations with little or no dedicated IT staff. Free time is an incredibly finite resource so slowing down to map out technology planning can feel like a luxury that many cannot afford. However, dedicating some time upfront can pay significant dividends in the long run. Here are four ways that your business can benefit from a formalized technology plan.

 

When it comes to technology planning, the “if it ain't broke, don't fix it" mentality is pervasive in companies of all sizes.

 

Reduce waste, reduce costs

You're paying too much for some of the technology you use. This is true in just about any organization, but it's impossible to identify and address inefficiencies without first taking stock of your technology planning and resources and how they're being used.

Office real estate can be a helpful analogy for how to think about technology utilization. You wouldn't want to pay for a space that's twice as big as what you need and paying for more technology than you need doesn't make any more sense. It reduces upfront capital expenditures and allows you to only pay for what you use, which is a tremendous boon for growing businesses and ones that require part time or seasonal workers. Incorporating a roadmap for the adoption and deployment of technology planning into your overall business plan can go a long way towards ensuring resources are allocated correctly and the technology you're paying for is actually being used. The resulting savings can help pad the bottom line or even be redirected into new technologies that drive more strategic value for your business.

 
 

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Increase employee productivity and satisfaction

Another area where the costs of improper planning may not be immediately apparent is how your technology helps—or hinders—your employees' ability to get work done. We have become so dependent on technology that a poor user interface or lack of training can be a substantial drag on productivity.

How documents and data move through your organization— has a massive impact on the speed and effectiveness of your business. How do your employees find and access important files remotely? Are they able to print documents from their smartphones or easily transfer a scanned contract to their device? Without proper technology planning, businesses often end up with a mishmash of devices and technologies that do not work well together. The effects of poor technology planning on employees extend beyond productivity. We've all felt like throwing our computer out of a window after losing hours of work due to a software crash. When poor performance and ineffective technology are constant frustrations, it can have a material impact on employee satisfaction, retention and even recruiting.


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Technology planning services could transform IT from a cost center to revenue generator.
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Identify security and compliance risks

Organizations that take a reactive approach to technology face an increased risk of data breaches or regulatory missteps. Protecting your assets requires you to first take the time to evaluate the threats that your organization faces. It's easy to be blindsided by a crisis when you can't see the forest through the trees.

Often the lack of technology planning around security stems from the fact that businesses assume they aren't an attractive target. The reality is that you don't have to be a global bank or a massive retailer to be at risk. Attacks on small businesses happen with alarming regularity and the issue is compounded by the prevalence of insufficient technology planning. There is also a common misconception that compliance considerations are limited to companies in highly regulated segments such as healthcare or finance. While such industries are subject to additional scrutiny, any business that accepts credit card payments, collects customer data or maintains employee records must adhere to certain compliance guidelines. Developing clear policies for how to manage and store such information will reduce your exposure for fines or other regulatory complications.

Use technology planning services to grow your business

Taking a more strategic approach to technology planning allows you to shift your IT focus towards areas that can drive tangible business value. The resources saved through reducing wasteful spending and avoiding the costs of security breaches can be reallocated into solutions that help drive customer acquisition and retention.
 
 

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1 David E. Javier, "Why technology spending isn't all its cracked up to be: Study." CNBC, October 31, 2015. http://www.cnbc.com/2015/10/30/technology-spending-isnt-all-its-cracked-up-to-be-study.html
2 E. Scott Reckard and Tiffany Hsu, "Small businesses at high risk for data breach." Los Angeles Times, July 4, 2014. http://www.latimes.com/business/la-fi-small-data-breaches-20140705-story.html
 
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