For many organisations, having a well-defined IT strategy is essential for technology leaders to demonstrate to the business leaders how they are looking to move beyond short-term operational tasks and embrace long-term strategic planning. If your business doesn’t have an IT strategy yet, don’t panic, you’re not alone! Many business and technology leaders recognise its importance but have yet to develop one.
#What Is an IT Strategy?
An IT strategy is a comprehensive plan that outlines how technology will support the overall business strategy. It acts as a roadmap to ensure IT investments deliver maximum value and align with broader business goals.
The development of an IT strategy often requires consideration of the distinct business requirements of the various fee-earning units, as well as the broader business strategy. It also needs to reflect the growing need for better information security such as business continuity, cyber protection, and hardware & software lifecycle management.
A well-defined IT strategy typically includes:
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Strategy Statement – A clear outline of the business’s objectives and how IT will support them.
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Principles – A statement of the principles by which technology decisions will be made and against which we can judge the outcomes.
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Strategic Decision-Making Process – An outline of the basis for future technology decisions.
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Improvement Opportunities – An assessment of current IT capabilities, identifying strengths and areas that need improvement.
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Timeline of Initiatives – A roadmap of planned IT projects, including start and estimated completion dates.
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Project Justifications – High-level explanations for each initiative, detailing the business benefits and alignment with company goals.
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Cost Estimates and Budgets – Projected costs for initiatives, along with comparisons of planned versus actual expenditures.
#Why Do Businesses Need an IT Strategy?
Technology has been central to successful business operations for years, and its role continues to expand. Business leaders understand that IT is fundamental to an organisation’s performance. Even small improvements in IT operations can lead to significant benefits across the company.
While it’s easy to assume that IT professionals would emphasise the importance of IT strategy, its true purpose is broader, it serves as a key enabler for achieving business objectives. A well-structured IT strategy aligns technology with company goals, enhances efficiency, protects against project failures and risks, and drives innovation.
If technology is not considered in the context of improving day-to-day business operations, then the technology will always be a source of disappointment. Does your business need an IT strategy? Ask yourself: Are you truly getting the most out of your technology investments?
#What Prevents Businesses from Developing an IT Strategy?
Despite its importance, many businesses struggle to create an IT strategy. The most common challenges include:
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Lack of Business Strategy – Sometimes, we find that businesses lack a formal, documented business strategy. However, this shouldn’t be used as a reason not to develop a coherent IT strategy and provides the opportunity for IT professionals to demonstrate leadership in the creation and execution of formal strategic plans.
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Limited IT Expertise – Smaller businesses often lack the in-house expertise to develop a strategic IT plan, especially when IT services are outsourced or when internal IT teams primarily focus on support roles.
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Time Constraints – Even when businesses have the necessary skills, day-to-day operational demands often take precedence over long-term strategic planning. Does your business face these challenges, preventing you from maximising your technology’s benefits? If so, what steps can you take to break the cycle?
#Conclusion & Next Steps
Developing an IT strategy can be a game-changer for any business looking to maximise its investment in technology, reduce IT costs and risks, and improve efficiency. If you’re ready to get the most from your IT and need expert guidance, contact us today, we’re here to help!