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How to Create an IT Business Strategy

IT Business Strategy

A good IT strategy should be part of every overall business strategy. Some companies report an ROI of up to 700% just from having a well-executed IT business strategy. However, the keyword there is “well-executed.”

“The right IT strategy could make all the difference between your competitive advantage or letting your competitors pull ahead.” – Andrew Wolff, ComSys

Even if you did your due diligence, 67% of well-formulated IT strategies fail due to poor execution. This means that effective action planning and coordination is essential. Your IT strategy needs to do more than just look good on paper.

To help you avoid this possible pitfall, this article will go over what business owners need to know about formulating a solid strategy. We’ll discuss the steps of creating one and show you some best practices to follow during creation and implementation.

What is an IT Strategy For Business?

An IT strategy for business is a comprehensive plan that outlines how technology should be used to meet business goals. Think of it as a roadmap that guides companies in effectively leveraging technology to improve business processes.

Effective IT strategies are not static. They require regular reviews and updates to ensure alignment with changing information technology and business landscapes. This proactive approach helps you stay ahead in a rapidly evolving digital world.

How to Create a Business IT Strategy: Step-by-Step

1. Assess Current IT Capabilities

Begin by evaluating your current IT setup – including your existing networks,
hardware, and software. This assessment lays the foundation for your strategy by highlighting strengths to build upon and weaknesses to address.

2. Define Business Objectives

Clearly define what your business aims to achieve in the short and long term. This step ensures that your IT strategy directly contributes to your business’s success. Having clear direction will also make it easier to decide on technology investments.

3. Identify Opportunities For Improvement

Look for areas in your business operations where IT can make a significant impact. This could be improving customer experience, streamlining operations, or enhancing data security. Identifying these opportunities helps you prioritize the IT initiatives that offer the most value.

4. Develop a Technology Roadmap

Create a detailed strategy document for technology adoption and upgrades. This roadmap should include timelines, budget estimates, and resource allocation. A well-planned technology roadmap prevents ad-hoc decisions.

5. Plan for Training & Change Management

Prepare for the human aspect of any new IT implementations. This involves planning for training sessions for your staff and establishing a change management process. Training ensures your team is well-equipped to use new technologies effectively while change management is vital for smooth transitions.

6. Implement Security & Compliance Measures

Security and compliance are not just about protecting data. It’s also about building trust with customers and avoiding legal penalties. As such, it’s important to ensure your IT strategy defines your data protection measures, security audit schedule, and compliance checks.

7. Regularly Review

The digital landscape is always evolving, so should your IT strategy. Regular reviews and updates ensure your strategy remains relevant and effective. This includes adapting to new technologies, responding to business changes, and learning from past IT initiatives.

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IT Strategy Best Practices for Business Leaders

Assess & Rationalize Applications

Rationalize your application portfolio to tidy your IT architecture to reduce technical debt. This involves evaluating your applications, determining their relevance and efficiency, and consolidating or retiring redundant or outdated ones.

Conduct Regular Cost Benchmarking

Perform regular cost benchmarking to identify efficiency opportunities. This helps in comparing your organization’s performance with peers and identifying areas of overspending. In fact, organizations that regularly employ cost benchmarking typically find 5-10% efficiency opportunities.

Eliminate Single Points of Failure

Avoid relying on single individuals for IT management or support. Ensure that responsibilities and knowledge are distributed to prevent bottlenecks and vulnerabilities. Combining your IT staff with outsourced IT professionals is a good way to prevent this issue.

Stay Actively Involved

Monitor your team’s progress without micromanaging. Understand the details of your projects and maintain a high-level view to make informed decisions. This balance is crucial for effective IT leadership​ during strategic planning.

Address Challenges in Strategy Execution Early

Proactively prepare to tackle common challenges in strategy execution, such as poor communication, lack of coordination, and resistance to change. Addressing these challenges head-on can significantly improve the chances of successful strategy implementation.

Get Expert Guidance as You Craft Your IT Business Strategy

“I have to say that your team, from the techs to the brains, made the difference. Transitioning from what can only be categorized as a fiasco, your guys paved the way for a smooth transition and raised the bar, by a lot! Thank you all and look forward to continuing to work with you guys.”

Jorge Horruitiner – Controller – Lewis Oil Co., Inc., Gainesville, FL

There are a lot of moving parts involved in implementing an IT strategy, especially as your business continues to grow. SMBs with resource limitations may find it to be too much to manage. Helping SMBs in such situations is one of the many things that managed IT services can do.

If you’re looking for an excellent option in Florida, consider ComSys as your managed IT provider. Our specialists can help you both plan and implement an IT strategy that truly works. We’ll get to know your specific needs so we can be sure that everything we recommend actually fits your processes.

Contact us today to get started.

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