The 3 key ways to transform your business with technology

We’ve seen a lot of political and economic change in the past few months, and it’s unlikely we’ll return to smooth sailing anytime soon. One thing hasn’t changed though – the need for business leaders to pay attention to what they can control. And when it comes to mid-market businesses, we see the same strategic challenges popping up that become, in effect, inhibitors to transformation and growth:

• Ownership issues: who is responsible for what?
• Bottlenecks caused by an over-reliance on individual experts
• Ways of working (e.g. Excel) that waste manpower and don’t scale up
• Weak reporting, which makes decision-making difficult
• Cyber security vulnerabilities

That last challenge is especially worrisome. For nearly every mid-market business, security issues have become even more acute, with weak or out-dated security and authorisation processes. The result? Companies are falling prey to cyberattacks. Or when the next audit comes round, they will struggle to demonstrate regulatory compliance.

These issues call for transformational changes. And they’re not as hard as you might think.

Transformation 1: Using IT infrastructure to add value

We’ve found that businesses are more valuable when their IT infrastructure matches their business strategy. It goes beyond the simple (but crucial) issue of efficiency – when the IT is designed to support growth, businesses tend to have higher valuations, as well as a much easier time with IT due diligence and compliance.

For more details, see our CEO’s briefing on building an IT roadmap for growth.

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 rationalised, you can also integrate with external services, so 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.

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 technology is much more than a necessary evil. To create a high-value and agile business, CEOs must embrace technology as part of their strategy.

And when you’ve done the first two transformations – realigned your IT to business goals and streamlined integration, systems, and processes – you’ve got a platform for creating new online channels and adopting newer technologies like AI.

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 – no matter where your staff if working from.

Need help? Many CEOs engage Freeman Clarke because our IT leaders have commercial expertise, fantastic people skills, and deep technical knowledge. 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.

In the meantime, visit our Technology Roadmap for Growth Knowledge Centre, which includes more useful content on this topic.

It’s impossible to run a business without IT and technology. It’s also much harder to grow a business unless your IT has been designed with this in mind. This is why every mid-market business needs an IT roadmap for growth.

Download now for FREE