Make Technology Part of Your Business Strategy

It’s difficult enough to run a successful business when all the computers and phone systems operate as expected. But, when systems go down, stress levels go up. As a result, many business owners have begun incorporating managed technology into their strategy for success.

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Brainstorming, meeting and planning with business woman speaking to staff in boardroom of office.

Business Growth with a Technology Strategy

What is a technology strategy? Like marketing or financial strategies, a technology strategy outlines a company’s plans to use tools (hardware and software) in the most effective ways to assist the organization in meeting its overall goals. The benefit of including a technology strategy in your annual planning is the ability to anticipate growth and the additional technology needs your business will have when that growth occurs. Having a plan in place ensures that you are proactively managing your network, protecting your assets from cyber threats and ensuring you have the latest technology to support your organization’s needs.

Emerging technology requires vigilance, education and oftentimes integration. You may not even realize the different types of technology you and your staff rely on daily in the workplace. Office phones and computers quickly come to mind, but what about the software operating each of these devices or the network running in the background?

In the age of remote and cloud migration and adoption as well as the evolution of AI, many organizations have turned to Managed Service Providers (MSPs) for technical planning and support as part of their IT strategy. In fact, according to Deloitte’s 2023 Global Shared Services & Outsourcing Survey Report, 57% of respondents said they outsource Information Technology services for their company. Outsourcing IT services ranks third behind finance and human resources as essential business functions that prove to be effectively outsourced.

Reduce Costs and Downtime

Due to the complexity and ongoing demands of technology, it often makes sense financially to outsource this work to a trusted MSP. Technology breakdowns are hard to anticipate yet tend to be inevitable. According to a 2024 Forbes article, the average cost of downtime has become as high as $9,000 per minute for large organizations. While that may sound extreme, for many industries such as healthcare and financial services, it is just the tip of the iceberg. Add to that the cost to repair or replace broken systems. Such expenses can come with a steep price tag, especially when you’re in a crunch.

The approach to maintaining technology as part of your standard business operations will most likely lower the frequency of these untimely events and make the costs more manageable. Along the same lines, outsourcing also makes budgeting for tech needs more predictable.

Staffing and Standardization Support

In addition to reducing downtime and the costs associated with it, businesses often rely on outsourcing their IT needs to support their existing staff. MSPs have technicians with a range and depth of IT experience. If you’re in a tight labor market, it can be difficult to locate candidates with the experience needed to fulfill these roles in your organization.

The right provider has experts with a variety of skill sets who will ask the right questions to understand what you need today to help you prepare for the future. Likewise, a good MSP ensures its technicians stay informed on the latest tech trends with continuing education and program training.

Even still, business owners and managers like you have opted to hire an MSP for reasons beyond the more obvious cost reduction and staffing matters. Many aim to centralize and standardize their processes as an effort to improve efficiency. A good tech strategy allows you to review your current business practices while providing the ability to accommodate changes in the future with built-in strategies for growth.

The practice of incorporating a technology strategy into your business helps ensure that you won’t overlook some of the most important tools within your organization. Once you have established your tech strategy, you’ll appreciate the safe and consistent working environment it delivers day in and day out. Hamilton welcomes the opportunity to help you incorporate a technology strategy into your business. Contact us today at 308.381.1000.