Strategy • Seven Hills Technology

Strategy

Your technology strategy is more than just your plan for the future. It’s an outline of how your entire business operatives from a technological perspective. Is your outline a rough draft or the final product?

Your technology strategy is more than just your plan for the future. It’s an outline of how your entire business operatives from a technological perspective. Is your outline a rough draft or the final product?

Technology strategies go beyond technology.

Our three keys to a successful technology strategy.

Where do we start?

Getting started is always the most difficult step. Here’s a quick exercise to jumpstart your technology-strategy thinking:

1. Current State

Start by evaluating your current state. Ask yourself some of the questions, write down your answers, and challenge yourself to continue down the rabbit hole of each answer until you no longer can.

  • How much of your technology is “in-house”?
  • How much of your technology is in the cloud?
  • What is your average monthly technology spend?
  • What long-term contracts do you have?
  • Who is responsible for maintaining this environment?

2. Future State

Now is the time to think big. Where is your organization headed? What would you like to see change from your answers above?

Be specific in your answers. Don’t just say “move all of our systems to the cloud”, but rather “move our financial system into a cloud-based solution that we don’t have to manage”. The more detailed you can be in your response, the easier the next step will be.

3. Initiatives

You’ve done a great job so far. With the answers for your current state and future state, it’s all about bridging that gap. What must you do to make it from point A to point B? It may require additional budgeting, resource changes, or an acquisition to get where you really want to be.

For each gap you’ve identified between your future state and current step, ask yourself these questions and write down the answers:

  • Who, either in our business or externally, is responsible for the current state?
  • Why are you in that state? When was the last time you evaluated your options?
  • To get to your destination, what financial moves need to be made? Do you need to increase or decrease your spend? Does the future state generate additional revenue? Does the future state improve net profit margin through an increase in efficiency?

We love hearing about different initiatives. If this exercise interested you, or you want some free feedback on your answers, drop us a line.