New Normal, New Top Tech Priorities
The pandemic overhauled technology priorities since 2020, accelerating migration, freezing innovation and flattening previously forecast growth. It leaves businesses with little recourse, yet certain technologies are imperative. The attention of companies has turned to cost management and trimming unnecessary spends. You need to find savings and many of them hide in mismanaged investments.
The IT rule of 30: Any unmanaged IT spend category has about 30% of spend wasted.
With unmanaged IT, waste can come from a number of different areas:
Accounts or services out of use
Services setup with wrong features
Projects that no longer exist
Services assigned to a former employee
Duplicate accounts or services
Outdated service plans
The pre-pandemic tech scheme
You may already have streamlined processes. You had certain technology tools and systems in place to get things done. It all was working fine but the pandemic brought new challenges to the way your business functions. And the technology you relied on in the past may not be the best answer to your current business needs.
You might have been putting off cloud migration, as most work was onsite, or you resisted remote working out of concern that employee productivity would suffer. Perhaps your business didn’t want to secure a “Bring Your Own Device” workplace.
Now, you need to rethink how your employees report for work. You could be facing any of 2020’s familiar challenges such as:
A server that could support your teams overburdened by remote workers
A reliance on email document exchange causing difficulties with version control and accountability
Not having enough software licenses to accommodate employees working from home
Employees lacking the technology to get work done offsite.
Your need to act now to address your new technology needs. Keep in mind that many vendors are offering discounted services, plus, you may find it easier to access business loans for tech investments.
Companies that fail to adapt or innovate could go out of business.
The shift in tech priorities
The pandemic has been a "great catalyst" for changes CIOs and business owners have long worked to drive. It shows the "why" for technology investment and innovation, proving to business leaders that IT is not just about procuring and provisioning technology.
It also shows the excess. Technology stacks have accumulated for decades, and rotating technology leadership means leftover legacy applications are forgotten. The lofty digital transformation goals for 2020 veered toward controlling the minutiae of IT spending. The hardest hit industries, including hospitality, restaurants, and retail, require more scrutiny of costs.
Some businesses are struggling to keep their doors open. Others are waiting out the current situation to see how things shake out. Then there are those that are rolling the dice and betting on a rebound.
Elevating the IT game and improving your IT environment can be the foundation for the future success of your business. Also, leaders are now required to leave emotion out of the room.
Digital is better
Plans may have already been in place to invest in systems or hardware upgrades or migrate to the cloud. Continuing the digital transformation journey, when everyone is adapting already, could make sense. Reduce negative impacts by making the change while employees are working remotely. Downtime may not be as big of a challenge.
Your business may also invest in data backups and disaster recovery solutions. Didn't have business continuity plans in place? You’ve likely realized their importance now. These plans prepare your business for data breaches, ransomware attacks, power outages, or natural disasters. Contracting for cloud data backup pays off when you can recover quickly and cut damage done.
Starting a partnership with a managed service provider (MSP) is extremely helpful. An MSP gets to know your business and its systems and needs. They can help find cost savings and identify opportunities for greater efficiencies. They can also offer expert IT advice, manage and track your data backups and cybersecurity, or take on day-to-day tasks, freeing up your IT team for revenue-generating innovation.
If you’re thinking of making a tech investment, contact us today. Our experts can put your plans into practice while you focus on your business recovery.
Call us at 305 400 0992.