The 3 Key Ways to Transform Your Business with Technology
The lockdown created an urgent need for many businesses to switch to home offices. It wasn’t easy, but it was doable: getting people connected and working from home didn’t hurt so much.
But for many mid-market business leaders, the rush to telecommuting exposed troubling strategic challenges:
- Broken processes, including unresolved issues about which teams and individuals have ownership of which responsibilities
- Over-reliance on individual experts and paper-based ways of working that waste manpower and don’t scale up
- System-wide bottlenecks, including wasted effort and delays in management reporting
For nearly every mid-market business, security issues became even more acute. The lockdown quickly exposed weak and out-dated security and authorization processes. The result? Companies are falling prey to cyberattacks. Or at best they will struggle to demonstrate regulatory compliance.
These issues call for transformational changes. And although they won’t be easy, they’re not as hard as you might think.
Transformation 1: Using IT infrastructure to add value
Companies need to ensure that their IT infrastructure matches their business strategy.
For example, we often recommend outsourcing basic IT support of cloud services. This frees up in-house people to focus on value-adding activities. Depending on your own company strategy, it may be better to in-source strategic software development, business process improvement, back-office systems configuration or data analysis.
Transformation 2: Integrated systems, processes and controls
It can feel daunting to move away from legacy ways of working. But simple, well-structured processes and systems cost less, improve customer service, and allow for compliance and business continuity planning.
If your systems and data are rationalized, you can integrate with external services, so as we mentioned above, outsourcing can become part of your strategy.
And, for many business service providers, your ability to integrate with your clients’ systems provides a point of difference and creates a barrier to exit.
Finally, this transformation creates a platform for adoption of AI/ML and for creating new online channels.
Transformation 3: Innovation and digital initiatives
Both consumers and business clients expect almost all products and services to be online. Most innovations now have digital at their heart, and digital experiences are now practically inseparable from your customers’ experience of your brand.
This tech is much more than a necessary evil. To create a high-value and agile business, CEOs must embrace tech as part of their strategy.
These are uncertain times. But many CEOs see opportunities to restructure their business, to enter new markets, and to scale up. The above three transformations offer an approach to plan for your own breakthrough.
Need help? Many CEOs work with Freeman Clarke because we take on uncomfortable changes and challenges with reassurance and guidance. Transformational change requires experienced and expert IT leadership.
We are the largest and most experienced team of IT leaders. If you want to know more about how we can help, then get in touch.
Freeman Clarke is the largest and most experienced team of part-time (we call it “fractional”) CIOs and CTOs. We work exclusively with ambitious organizations and we frequently help our clients use IT to beat their competition. Contact Us and we’ll be in touch for an informal conversation.