Benefits of Technology in Business Strategic Implications

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Technology has come along way from being an experimental silo, to now being embedded into how we work, relate, and play. Yet often times settle for support technology without deploying leading technologies that can help organizations create momentum for cost savings and innovation. Organizations that adopt leading technologies will also find themselves attracting more talent (source), while organization that do not embrace new technology are at risk of losing their most senior talent. Executives are using technology to create efficiencies, cost savings, and redefine their industry. This article identifies the key benefits of technology of business and characterizes the difference between supporting and leading technology.

Strategic Benefits of Technology in Business

Characteristics of Organizations with Unrealized Value in Technology

Organizations exhibit the following qualities when prone to underutilizing technology:

Past failures of change – failed projects or software deployments can often cause organization to retreat into a comfortable status quo, where technical innovation remains stagnant

Reactionary posture in dealing with issues – issues are dealt with in an ad-hoc manner, rather than being anticipated, monitored, and quickly closed out

Business leaders aren’t providing adequate input – your team isn’t providing input as to how technology can be helping your organization improve and create new channels for resources

Too busy to plan for the future – leaders are often too involved in operation to plan for innovation, resulting in diminishing returns in effort expended due to a lack of scale and innovation

Lack of technological breakthroughs – technology has yet to create significant savings, efficiencies, and revenue returns for an organization

Uncertainty as to what technology can offer  – organizations are often too busy to determine and uncomfortable with exploring what technology can offer to their daily woes

Resources from Moving from Support to Leading Technologies

Leaders who seek to lead their industry must consider how technology is currently being used. These resources will offer insights as to how organizations can and may use leading technologies to help them to operate with increased agility and responsiveness to stakeholders.

Examples of Office Automation Technologies

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Create a Business Case for Digital Transformation

Leaders who recognize the value of technology, next should look towards creating a business case for their initiative. This requires an understanding of the organization’s mission, while creating a rock-solid business case to demonstrate value. Too often organizations focus on costs of a project as opposed to the value it can bring. This is detrimental to many medium and large enterprises whose primary concern is cost reduction rather than value creation. A business case should clearly articulate cost of not enacting a project, as well as the potential revenue or savings gained. This enables competitive organizations to become leading organizations, alongside qualified partners.

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Bring IT to our Strategic Planning Table

 

Mindfield Helping Executives Lead with Technology

Mindfield has successfully helped organizations create business cases to guide technology adoption. Our clients become leading organizations differentiated with mission critical technologies that scale and accelerate and help them achieve their mission and mandates. Our teams have successfully helped business leaders bring IT to the executive table. Mindfield specializes in custom software development, elearning for corporate training, and jira expert consulting.

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