The influence technology has on businesses today is undeniable. Business professionals can leverage technology to reach, or even succeed, company objectives. To better position themselves for success in the digital marketplace, firm leaders should consider the following tips when building their digital identity.
1. Create a game plan
It is important to show employees the intent of technology as a long-term investment. Don’t just talk about it, do it. To demonstrate you are serious about implementing technology, consider:
- forming a department dedicated exclusively to Information Technology (IT),
- developing a budget for technology, and
- employing or outsourcing professional staff.
2. Set strategic goals
Understanding the difference between strategic outcomes and technological functionalities is key. Strategic outcomes are quantifiable; they are the end result or the impact your services had on stakeholders. Focusing your IT strategy on strategic outcomes rather than technological functionalities is important to measure accountability and verify objectives are aligning with stakeholder perceptions.
3. Have a plan
Having a policy in place which addresses the many threats associated with technology can be useful for preventing and reacting to a crisis. Consider including the following in your policies:
- Cyber security awareness and education,
- Possible threats and consequences,
- Best practices for protecting sensitive information, and
- Plans for scenarios such as identity theft.
4. Forward Thinking
Anticipate future trends by actively scanning the environment. Trends and drivers will be similar across multiple industries. How will your current service offerings match up to developing trends such as automation?
5. Engage Employees
To ensure a successful implementation, it is important to include employees at all levels when introducing technology updates. Some things to consider are how the changes will be planned, managed and evaluated.
Today’s new technologies afford companies the opportunity to redefine themselves and the way they operate. Firm leaders who invest in technology sooner, rather than later, will reap benefits such as streamlined procedures allowing them to work smarter not harder. The professionals in our offices can help you navigate the planning for major investments into your business. Call on us today.
Treasury Circular 230 Disclosure
Unless expressly stated otherwise, any federal tax advice contained in this communication is not intended or written to be used, and cannot be used or relied upon, for the purpose of avoiding penalties under the Internal Revenue Code, or for promoting, marketing, or recommending any transaction or matter addressed herein.