Why Do Companies Struggle with Technology Innovation?

Taking the DIY Road

Creating Unnecessary Silos

Going the Single Route

The Solution: A Cohesive Technology Strategy

6 Ways to Face Your Fears

  1. What are my objectives? I always advise companies to identify key objectives first. You may think you want a lot — yet all you need is a little. For example, you may start by investing in just one or two foundational platforms. If you make sound choices, your platforms will “stick around” for the long haul. The worst thing you can do is change technologies like the “flavor of the month,” which leads to unwanted disruption inside and outside your organization.
  2. Establish a budget. What does your technology investment look like? A trusted partner can help you clarify objectives and create a workable budget. For example, I wouldn’t advise a company to invest in a data lake strategy if the needs of end-users and customers could be achieved by connecting them directly to source systems.
  3. How do I make strategic choices? Just like the chef who chooses top-quality tools over flash-in-the-pan gadgets, your technology plan should tap the solutions and platforms that deliver proven, time-tested results. Take all the time you need to research the right selection for your company’s needs — and remember the old tailor’s adage: “Measure three times, cut once.”
  4. Leverage innovation. Make the commitment to maximize every innovation your platform delivers. It’s better to keep up with technology enhancements as they roll out, rather than ignore them and find yourself playing catch-up — or having to make costly improvements later.
  5. Apply the “KISS” method. Keep It Simple, Sir (or Ma’am)! Try not to introduce too many new innovations at once, which only leads to unnecessary confusion. You don’t want those silos creeping back up after all the time and effort you’ve invested bringing them down!
  6. Embrace digital transformation. Keep in mind that choosing the right technology for your business is not a quick and easy decision, yet it’s ultimately worth making. It’s important to bring along key constituents, including employee and customer stakeholders. Involve them every step of the way with realistic expectations and timelines, open dialog and clear communication. These stakeholders are integral to executing each phase of your technology transformation plan.

Starting the Journey

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Shree Partners

Shree Partners

Shree Partners is a digital transformation and technology solutions company that helps customers drive revenue and reduce costs.