To push forward in the technology space, senior IT leaders often turn to technology strategy consulting firms to help navigate these decisions. This is a massive industry, though. If one of your main goals is to use technology to increase operational efficiency within your company, what should you be looking for when hiring a technology strategy consultant?
Knowing the answer to this means understanding the basics of technology strategy consulting. In this article, we define it, its importance, and how it can advance your company.
What Is the “What” of Technology Strategy Consulting for Business Efficiency?
Technology strategy consulting redefines value in tech investments. It’s a game of strategic foresight and careful planning that takes into consideration risks and benefits. Keep in mind that you’re dealing with a growing industry worth nearly $700 billion. For IT leaders looking to invest wisely, knowing what to look for is about knowing what you don’t know.
Let’s define the “what” of technology strategy consulting. For starters, it’s about maximizing the efficiency of technology investments which encompasses people, processes, and technology infrastructure such as roles, applications, and services. This involves balancing a broad range of specialized skills, best practices, and prior experience. Quite simply, the right knowledge means a project will have fewer issues, align with business outcomes, and unfold faster and at a lower cost. Experienced technology consultants bring perspectives to avoid any potential friction and misses.
Expanding on that, technology strategy consulting leverages expertise to get ahead of potential misses and setbacks. They help accelerate your project’s timelines which directly reduces the potential for stranded investments. Think of it similar to hiring a plumber after noticing some water damage in your bathroom. You can see there’s a problem but need an experienced expert to execute and handle potential issues.
Similarly, consultants help IT leaders answer the question of whether or not their company is as efficient as possible. In this space, it’s about maximizing your technology utilization. They analyze every aspect of a decision – i.e., what cloud infrastructure and capabilities to use, “rightsizing” your software licenses or plans, ensuring you are on the most current platform versions, etc. – and all along ensure your company is set up correctly to succeed. It is very easy to overspend by using the wrong applications or licenses.
In essence, the “what” of technology strategy consulting is the art of asking the right questions and finding the most optimal answers.
What Is the “Why” of Technology Strategy Consulting for Business Growth?
Technology connects all aspects of business. The right tech decisions can not only have the potential to improve every aspect of business, but they foster a more positive and engaging workplace.
“Digital tools have become an essential part of how [people] do their jobs, communicate and collaborate with their teams, learn job skills, and even receive recognition from their work. As companies continue to upgrade and expand their technology infrastructures, executives must carefully and thoughtfully deploy digital tools to ensure that employees have what they need to be productive and grow in their careers.”
- Harvard Business Review Report: Accelerating Employee Engagement with Technology
Further, more engaged employees produce better work. That means by investing in technology strategy consulting, you’re investing in a multi-pronged catalyst for the growth of your company.
Via Harvard Business Review
The right technology strategy can create a company culture that values innovation, and that type of attitude will leak into the rest of your company. When you invest in the right technology, you invest in people.
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Long-Term Vision with Immediate Impact: Of course, the immediate focus of technology strategy consulting is on your current tech challenges. But it’s vital to think wider than your current project – what is your current state and what do you need to do to arrive at your desired future state?
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Scalable and Flexible Resources: A well-crafted tech strategy isn’t just a “fix.” Instead, it’s the foundation for tomorrow. The right decisions now build towards a scalable and flexible future.
A more resilient environment can directly translate to future growth.
Bridging Innovation and Pragmatism in Tech Strategy
Now that we have the “What” and the “Why” nailed down, there are numerous challenges that prevent IT leaders from tapping into the full potential of their technology.
First, there’s the issue of budget versus innovation. Technology consultants help businesses ensure investments in new technology are both financially viable and strategically sound. This involves careful planning and identifying the needed resources at the start of a project, during the implementation, and ongoing support afterwards. The right technology consultants can help source part-time, long-term, and full-time resources to execute the plan.
But selecting and deploying a new tool or application doesn’t change the way you or your team works. Technology consultants understand that a new tool or application does not deliver a new process, instead, it enables one. Consultants bring expertise and can provide a well-thought-out plan on how to make sure your technology is properly deployed, implemented, and rolled out to maximize user adoption. A proper plan for change management means, according to SHRM, providing support and training for your employees.
And employees want this, too! McKinsey Research finds that recent advancements in tech – such as generative AI – have caused renewed enthusiasm among workers for the potential of technology in business.
Think of adopting new technology similar to adding a new section to an existing apartment building. If the new additions – such as a gym or common area – don’t align with the desires of the building inhabitants, they will be underused, and the cost of the project will be a waste.
Plus, let’s be frank, new technology is not cheap. Forbes highlights that over 27% of average IT projects go over budget. Without a close eye on adoption, you run the risk of missed expectations and wasted investments.
That’s why the successful adoption of technology requires understanding the needs, preferences, and challenges of who will be using the tool(s). Then, IT leaders can provide the right plan and enablement training to unlock its full potential while making sure budgets are met.
Harnessing Technology for Future-Proof Success
As you navigate your own projects, where do you find yourself needing help? Remember what we said: What you don’t know is just as important as what you know.
So, don’t be shy. Let’s talk about it.
At CorSource, we ensure our clients utilize the right technology for their needs. Our clients have benefited from leading technology strategy consulting since 1994, and we’ve witnessed and experienced countless waves of technology. But our commitment to excellence remains the same.
Learn more about the CorSource approach and how we can help you.
