CEO’s Briefing: Technology Roadmap for Growth
As companies grow, their IT inevitably needs to change and develop. In reality, few companies follow a well-planned path, so the result is often a complicated mixture of different generations of infrastructure, business systems, and digital activities. The situation can be further complicated by informal ways of working, such as spreadsheets, manual tasks by key individuals, and other workarounds.
An IT Roadmap—also know as a Technology Roadmap for Growth—is a solution. It gives you a plan for streamlining the inefficient processes and workarounds whilst laying the groundwork for growth. It shifts the discussion from IT as a budget line-item to how technology can drive business growth.
What makes a good technology roadmap
Companies planning growth need a plan for how IT can support and drive this growth. The right IT Roadmap allows them to scale up confidently, whilst maintaining or improving their margins and customer service. It ensures the Board have up-to-date information regardless of the increasing size of the operation. It allows the team to delegate authority to managers, who can make judgements based on accurate data. And it allows the Directors to move swiftly and to take opportunities for partnerships or acquisitions because their operation is a solid platform for growth. Furthermore, it optimises the value of the business in the event of an exit.
Why you need an IT Roadmap for Growth
Admittedly, it’s not easy to create an IT Roadmap. But without one, we typically see businesses impacted in the following ways:
- Inefficient processes eroding margins and making good service difficult or expensive. Errors and issues increase as the business grows, which damages profitability and cash flow. Short-term problems dominate management and there is little time or money to plan for expansion.
- Poor reporting tools means that analysing costs, revenues, efficiency and profitability is difficult. Comparing trends and plans versus actuals should be easy. Which products and customers are profitable shouldn’t be a matter of opinion! Marketing and sales ideas run aground due to lack of data.
- Lack of standardisation means the business is reliant on individuals. People keep their own vital lists and system workarounds which makes them ‘choke points,’ limiting growth and expansion. When these key people are on holiday or sick then the whole business is affected. If they leave it’s a major problem!
Download the full CEO’s Briefing, which explains:
- How the absence of an IT Roadmap affects businesses and their ability to grow and prosper
- How to turn business objectives into IT objectives to ensure that the IT Roadmap focusses on things that add value and make a real difference
- The best way to make a flexible and practical IT Roadmap for all aspects of IT, including people and processes as well as just technology
- How the Board needs to lead the activity to ensure the IT Roadmap remains relevant and up to date.
Watch this video where CEO and co-founder Graeme Freeman explains what a Technology Roadmap looks like and how to start planning yours. Or visit our Knowledge Centre which includes all content related to this topic.
Freeman Clarke is the UK’s largest and most experienced team of part-time (we call it ‘fractional’) IT leaders. We work exclusively with ambitious organisations and we frequently help our clients use IT to beat their competition. Contact Us and we’ll be in touch for an informal conversation.