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Company leaders focusing on their next strategic move or innovative product launch while the digital maturity of their business sits idle can often find themselves in a lurch in today’s ever-evolving Information Technology (IT) space.
At the start of your operations, user-friendly, inexpensive and readily available tools may have met your business needs. As you scale up, issues can arise as you try to adapt your existing technology to fill an immediate need or empower employees to choose solutions themselves. The result can be a disjointed organization, duplicated effort, a lack of system of record and limited access to data.
Businesses who are using technology as an add-on to their current processes, rather than focusing on gaining data-driven customer insights from their IT to inform the way they do business, can limit their potential for success.
Common examples of IT pain points we see in growing businesses are:
Different departments focus on the data they need to react to market pressure but typically their data is not shared across the organization. This can create separate views of the customer across business units and a fractured company culture.
Data can be used to empower people within your organization and foster a more collaborative approach, reflecting a shared vision and values.
Companies who collect data – without putting security measures in place to protect the information – run the risk of having personal data compromised or stolen. This can result in a loss of confidence from your customers, employees and potential investors.
A cyber security strategy to protect your data will ensure the proper measures are put in place to build and maintain trust, while providing your team with the ability to leverage customer information effectively.
Too much focus on reducing costs or internal efficiencies can detract from your company’s innovation and competitive advantages. To get a clear picture of your clients and their behaviour, focus on implementing an omni-channel customer engagement model.
It is important as your company grows, to continue to look at your future needs and create a culture of continuous improvement. Regular IT assessments and small technological investments in your business will save you from potential growth plateaus caused by out-dated processes and technology.
Stay tuned over the coming weeks for additional insights from our IT Practice as we outline the questions your company should be addressing during an IT assessment and tips for Small to Medium Enterprises (SMEs) when implementing new tools.
This complimentary assessment resource combines leading-edge tools and senior executive experience to help you build a strong and growing business. This management report will provide you with identified strengths and gaps based on ROI. The go-forward action items contained within will help you attain your potential and drive value for your organization.