Jan 10 2023
IT Business Strategy

How to Develop a Business IT Strategy

Developing the right IT business strategy can provide many benefits for your organization in terms of reduced costs, improved security, and smoother day-to-day operations. Setting the right business goals and laying out a road map to reach them can maximize IT impact.

A survey by Forbes shows that 78% of businesses rank technology infrastructure as a top priority. While the will to invest is there, IT strategy for business must align with business long-term goals to deliver benefits and meet business objectives .

Creating an IT strategy can present a significant challenge for businesses. There are many areas of focus and details to include. You can make the most of your IT business strategy by following this straightforward planning process .

💡 …But What Is an IT Strategy?

In a nutshell, it lays out how technology should be positioned in the organization to meet business and IT goals. Some strategies look to the long-term, and have complex technology roadmaps; others keep things simple, yet outline a path for short and mid-term investments.

Step-by-Step Business IT Strategy

1. Align With Your Overall Business Strategy

Your IT business strategy is essential, but it’s also just one part of your overall business strategy. You need to ensure that your IT strategy aligns with your key business objectives. To achieve success, you need all parts of your business to run together smoothly.

Consider what your goals are at this time. Are you trying to boost sales targets? Is your company expected to see growth or expansion? These all play into the specific IT services and technology trends that your business can benefit from the most.

2. Involving Your Entire Team  

Your IT strategy will have a major impact on your day-to-day operations . That’s why you need input from every member of your team during strategic planning. Employees in every department and every role can provide useful insight to guide your company’s next digital transformation .

A survey by Gartner shows that 56% of workers report significant difficulties with new software to the point that they want their old software back. You can avoid technical difficulties and employee frustration by understanding their needs and concerns beforehand rather than after the fact.

3. Understanding Your Information Technology Needs

IT business strategies vary widely due to the unique requirements of each individual organization. To create the right strategy, you need to understand and define your company’s IT needs. Do you need new hardware and software , ongoing security monitoring, or 24/7 support?

The specific infrastructure and services you need will define the shape of the IT solution you land on. Defining your strategy isn’t just about high-level business goals but the actual technical details of running your operations.

4. Evaluate Your Current Infrastructure

Once you develop an understanding of where you need to be, it’s time to look at where you currently are. A gap analysis of your organization’s IT resources can highlight the changes that you need to make.

Once you identify those gaps, you can devise specific improvements to bridge them. At this point, your strategy becomes more specific, and you will likely need some form of professional support to define the resources and services you need.

5. Develop Key Metrics for Success

Key performance metrics (KPIs) are vital in every industry – from monitoring production on a factory floor to maintaining customer satisfaction at your storefront. They should also play a major role in your IT strategy so that you can define, measure, and monitor progress.

You need to translate the overall business goals that your IT strategy will achieve into discrete, measurable targets. This could mean reducing time spent on tech issues, increasing sales, or other metrics. The nature of your business will determine the specific KPIs you choose.

6. Budget for Your Strategic Plan

With an overall understanding of the steps required for your plan, you now need to ensure that your business can afford it. You need to define a budget for your IT strategy, and that will likely entail some level of compromise as well.

With estimates for IT infrastructure and services, you can calculate the expected cost of the plan. This can include capital expenditures, operational costs, and more. To simplify budgeting, you could consider choosing a partner that can provide all of your IT needs and services .

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7. Find the Resources to Put Your Plan Into Action

Once you’ve created a realistic budget that accounts for various contingencies, you can start putting your plan into action. You’ll need to acquire the resources and enlist the services you’ve identified as parts of your business IT strategy.

You can work with various suppliers and vendors to work out a range of orders and contracts. However, working with a managed IT services provider is often a more straightforward option. They consolidate all of your IT needs under one roof, saving you time and money.

Develop Your Business IT Strategy

Business IT Strategy
Credit: Unsplash

These steps provide an overview of the IT business strategy planning process. However, there are many finer details that go into making your business IT strategy a success. For most businesses, working with a managed IT services provider is the best way to create a business IT strategy.

Yardstick Technologies provides IT consulting and strategy to define and execute an effective IT strategy for your business. We help you make smart decisions and leverage technology to further your business strategy.
Along with a business IT strategy, our team also provides a wide range of resources and services to realize your strategy plan. Cloud computing, security, IT support, and more can all play a part in your solution. Reach out today for a free, no-obligation discovery call.

Featured image credits: DepositPhotos

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