CHARTING THE OPTIMAL TECHNOLOGY ROAD MAP
Since the release of ChatGPT in December 2022, substantial business advice across all sectors indicates that every business needs an “AI Strategy.” AI is the new big buzzword, and industry leaders are telling CFOs in particular that AI is a must-have.
But how do we know what entails the right technology to buy and the right time to implement it? The answer to this question is in the development and adherence to a technology roadmap.
When we think in conventional terms about what a roadmap is, we envision something that gives us the correct route to take, ensures that we have all of the stops and potential delays calculated, and provides a solid estimate of how long our trip will take. In a nutshell, barring unforeseen events, a roadmap is a guarantee of success. This is a wonderful concept. But there are no guarantees when the solution is technology alone.
A method to think about this is more like military logistics. When we have an advancing army, it needs supplies in order to keep advancing. If those supplies arrive too late, the army stalls. If they arrive too early, they will more likely benefit the enemy. As such, supplies must arrive on time, as time is a crucial factor in the success of any advance. Crucially, supplies must match the mission: sending bars of soap instead of bullets is counterproductive. The importance of being on time and accurate is essential to success, yet the work to make this happen right required substantial time and energy. Predetermining crucial choices begins by focusing first on the crucial questions: “What do I need, when do I need it, how will I get it, what is the right thing, etc.?” Delivery of the solutions must be near perfect at the moment they are needed.
Mapping for Success: Strategy. Program. Team.
A recent Forbes article forcefully underscores the case for a business aligned technology road map: “Given the explosion of digital technologies and their fast evolution, companies find it hard to create business-led technology adoption pathways that help them break out of their legacy technology capabilities.”
A technology roadmap can come in any form. The successful approach includes
- Executive management committing to a formal, achievable strategic business plan that has been operationalized.
- A step-by-step course as to why, how, and when to incorporate relevant information-data management technologies and protocols to achieve strategic goals within specific timeframes.
- Selection and training of expertise-focused, technology-fluent staffing best suited to work in unison to achieve a company’s business goal to achieve preferred results –- including drastically reducing costly labor redundancies and errors.
The key point is that strategy drives the technology implementation. Currently, what commonly happens is the exact opposite.
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Download Your CopyDeparting Old World Ways for New World Solutions
Common thinking about digital transformation entails executive management ceding strategic business decisions to their IT departments. But most IT staff are not business strategists. According to the U.S. Bureau of Labor, industry, and academic studies, the vast majority of IT hold no relevant business degrees. As many as one-fourth of current IT staffing have no college degree whatsoever.
In a widely discussed CIO Magazine article, industry observer Steve Ronan concludes that companies must leave behind both ad-hoc and IT-centric approaches to planning. Instead, management not only must define achievable business goals but also “specifically how information management technology will support the business strategy and help achieve business priorities.” He adds that from “operational to strategic, these leaders increasingly need a Road Map.”
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Get It HereConsultant as Partner: Charting Undiscovered Efficiencies –- and Savings
Most companies lack the resources to integrate executive management with expertise in both strategic business planning and emerging information-data management technologies. The typical IT department or managed service provider has no experience or education in how to approach this task. Research by Delaware University professor Cynthia Conway’s finds that smaller companies can beat high costs –- and high implementation failure rates –– by partnering with a comprehensive, competent information management consultant.
Industry giant McKinsey & Company adds that a well-chosen information management consultant not only can help you produce “an effective technology road map.” Such a consultant can also provide flexible, cost-effective terms of partnering to keep your company on course in the “management and execution” of rapidly evolving, multiplying information and data management technology options available.
When your company is ready to chart its own strategically informed technology road map, BACS Consulting Group can deliver definitive advantages: client-centric, collaborative approaches; flexibility in meeting budget targets –- and delivering technology solutions for achieving actionable and appropriate efficiencies and operational nimbleness.
Contact BACS Consulting for more information without a sales pitch: www.BACSCG.com, Rkoski@BACSCG.com or PAdams@BACSCG.com. 650-383-4248
