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IT Priorities

7 Top IT Priorities for Executives in 2023

Over the past few years, we’ve seen rapid technological changes, a trend set to continue in 2023. As a C-suite leader, it is vital that you are aware of the top IT priorities for this year and beyond. From ensuring robust security measures are implemented to accelerating digital transformation initiatives and managing costs effectively, executives must be prepared in this shifting environment.

7 Top IT Priorities for Executives in 2023

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IT Priorities

 

With the speed at which technology shifts the business landscape, it’s essential to remain ahead of the curve to make the most of technology investments. So here’s a look at seven of the most critical IT priorities for C-suite executives and tech leaders in 2023.

Cybersecurity

If current events are an indicator, cyber incidents will remain a top concern in 2023. There will be plenty of cybercriminal activity from the ongoing conflict in Ukraine, bank failures, a fluctuating economy, technological advancements, and other forces.

According to a recent poll, 34.5% of executives report that cybercriminals targeted their organizations’ financial data. And in that same poll, 48.8% expect the number and size of cyber events to increase in the year ahead.

With that in mind, it is essential for business leaders to continuously review and refine cybersecurity protocols. As the threats become more frequent and intense–from government-backed intrusions to heightened supply chain attacks–security specialists forecast an even more challenging 2023. To stay safe, organizations must remain vigilant and take active steps towards proper protection now.

Some key areas to consider strengthening are MFA, endpoint security and user awareness, zero trust policies, and better evaluation of partners’ and vendors’ security policies and practices by implementing a third-party risk management program.

Privacy and Compliance

Various privacy laws from a slew of agencies and organizations are getting updated or coming on board. As a result, experts anticipate that by the end of 2023, 75% of the world’s population will be covered by a complex network of data privacy regulations and increased enforcement of those laws. As a result, executives will need to allocate more resources toward security and compliance to mitigate risk and avoid costly data breaches and fines and penalties for non-compliance.

Automation with AI, ML, and Low Code/No-code

As we grapple with cybersecurity and compliance demands, resources must be made available for leveraging the potential of artificial intelligence, machine learning, and low-code/no-code solutions to optimize productivity and profitability by 2023.

These solutions are now considered mainstays for market relevance for many verticals, including financial services and life sciences. These technologies enable streamlining workflows and processes and recouping time spent on routine tasks for investment into revenue-boosting tasks. Coupled with personnel labor shortages, AI, ML, and low code/no-code will become integral to aligning IT strategy with business strategy.

Hybrid Workplace

CTOs, CISOs, and executives facing a hybrid model should continue to focus on applying best practices in their implementation. Undeniably, the hybrid model places additional burdens on IT resources, especially regarding cybersecurity and support. But with the right strategy, a hybrid workplace can offer an organization greater flexibility and efficiency. To this end, IT professionals should focus on solutions that enable secure, remote access and collaboration across different teams and offices.

Hiring and Staffing Challenges

Labor shortages in IT and IS will continue to be an issue. As the need to further invest in IT capabilities becomes necessary, many organizations struggle with filling vital roles within their IT departments. Numerous experts are warning that this talent void won’t dissipate anytime soon, so shrewd executives and technology professionals will look beyond internal resources by partnering with a Managed Service Provider (MSP) to supplement their existing capacities.

Emerging Technologies and Trends

And if increased cyber threats, compliance, and labor shortages are not enough to juggle, leaders must also keep up with what is on the horizon with 5G, quantum computing, and other emerging technologies.

5G will continue to transform the banking and financial sectors from improvements like increasing the speed of payments to creating environments for superior data collection and more efficient backend processes. Additionally, quantum computing will bring many challenges and opportunities, including protecting data from quantum-empowered cyber criminals. Working with a strategic IT partner can help executives determine what emerging technologies to invest in and prepare for in the future.

Cyber Insurance

As the rate, intensity, and cost of cybercrime rise, the cyber insurance market is growing more competitive. Many insurers are reevaluating their underwriting requirements and giving greater scrutiny to risk mitigation and security programs. From increasing costs to more reporting requirements, more consideration will need to be given to factoring these changes into your IT roadmap.

Planning and Strategy are Key

With careful planning and strategizing, CXO and IT leaders will be ready to take on these and other critical initiatives this year. With cybercrime and data breaches on the rise, allocating resources to cybersecurity and responding to shifting compliance standards is more important than ever. Automation with AI and ML can help improve workflows and increase productivity. Outsourcing some (or all in some cases) of your IT functions can help alleviate skill gaps and other challenges from labor shortages. Executives must also stay ahead of emerging technologies and changes to the cyber insurance landscape to ensure their businesses remain competitive. By preparing for these challenges, IT leaders can ensure their organizations achieve success this year and beyond.

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Business team and digital transformation consultants talking, How to Prepare for Digital Transformation overlayed in white text with Coretelligent logo in bottom left

How to Prepare for Digital Transformation

If you read our 5 Digital Transformation Success Factors article, you already know that accepting digital transformation as a holistic change is a first step toward success. Even if the need stems from one department, recognizing the ramifications outside of departmental bubbles is key. By taking on digital transformation, you need to be comfortable with and prepared for a total culture shift. Now that you know what success factors contribute to the best digital transformation implementations, it’s time to uncover how to achieve those successes for your own organization.

Important steps to prepare for a successful digital transformation project:

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Business team and digital transformation consultants discussing how to prepare for digital transformation

 

Identify Pain Points

Digital transformation does not mean buying new tech and hoping for the best. Strategic planning is required to ensure your digital transformation solution has successful, wide-reaching impact that helps departments work together. To achieve success, you must consider what those impacts may be and how further opportunities can enhance your business processes. This takes careful consideration and strategic planning.

If you are at the point of undertaking a digital transformation, you probably already know your pain points and needs. But if you have ever lost your glasses only to find them on your face, you know it can be easy to miss things that are right in front of you. A digital transformation consultant can help you gain an objective understanding of your business landscape and determine best how to address your needs. But a helpful first step is to begin listening your teams, customers, and competitor’s clients to prepare your discovery. Here are some suggestions:

  • Listen to your teams: Your team is what makes your business run, so knowing what is or is not allowing them to perform at their peak is critical to your overall success. What are the challenges your team encounters most frequently? What issues are having the most detrimental impact? Are certain processes particularly problematic? Are certain tools constantly failing?
  • Listen to your customers: No business can stay alive without customers, so ensuring their needs are not just met but exceeded is vital. Are your prospects able to easily engage with your products or services? Are you able to quickly react to issues and requests? Are you retaining existing customers? How do you reach them? If via a website or app, are they user friendly? Do prospective customers or existing clients have reason to question how you are collecting or storing their sensitive, personal information? Are you in compliance? How seamless are your transactions? Can you streamline processes such as onboarding or payments?
  • Listen to your competitor’s customers: You undoubtedly have a pulse on what’s happening with your competitors, but this sleuthing can also help you improve and plan your digital transformation. Read their customer reviews and identify common praise and complaints. What are they able to deliver that you don’t? What are they unable to deliver that you could do better? Research your competitors, learn from their mistakes, and see how you can solve their pain points to fix your own.

Take Stock of Your Team—and Your Clients

User adoption is critical to digital transformation success, so evaluating the skillset of your team is an essential step towards that goal. Now that you have listened to the needs of your people, it’s time to step back and evaluate their capabilities. Think about the skills of your team members; are they capable of implementing the changes you need, or will you need to bring in experts? How much training will each department require? How much training will your end users need? Will some customers require accommodation, such as more in-depth training or even retention of traditional processes, to offset steep learning curves? While you won’t have solutions to these questions yet, it’s important to keep them top-of-mind as you prepare for digital transformation. Which is why you must…

Plan Your Communication and Curriculum

Springing new tech on teams may be exciting, but not everyone will have Christmas morning elation. Be prepared for some team members to need more education than others and make accommodations for trainings. Consider training modalities like webinars or knowledge base articles to help support user adoption. The same goes for clients who are accustomed to your platforms.

Additionally, some members may find it difficult to transition away from old habits, which is why early communication is key to prepare employees (or customers) for change. Set realistic goals for transitioning to new working environments and methods, and ensure you factor those deadlines into your project timeline. And be open to feedback. Understanding what is and is not working will help you make enhancements or adjustments that will improve efficiency in the long run. A digital transformation consultant should have training modules baked into their strategy. They will help you navigate how to introduce new working methods to team members, train teams on new tech, and provide resource documentation to help guide the process.

“One of the big roles of leaders [during a digital transformation] is to create a safe, supporting environment where people are able to learn.”

Kristine Dery, Research Scientist at MIT Center for Information Systems Research
How to Nurture a Digital Workforce

Audit your tech

Take stock of the technology that you use. You may be surprised to find that services you already use can be integrated for a more robust solution or include tools that serve your unmet needs. What’s more, you may find tech that you are paying for but not utilizing, or duplicates of the same tools across multiple departments. A good digital transformation consultant will take a deep dive into your IT infrastructure ahead of a digital transformation engagement, but having a basic starting point is a good practice, even if you have an idea of the services or platforms you want to use to modernize your operations.

Consider Your Timeline and Budget

Next, consider your timelines. How urgent is your need? How quickly can your teams realistically adapt to change? Additionally, how massive is the change you are undertaking? Don’t bank on overnight results that are unachievable. Consider working in phases to keep progress at a steady pace without being overwhelming.

Also consider how much you want to invest and what makes sense for your organization. What already exists in your tech stack? What features do you really need? Do you have the right, or enough, people in place to support your initiatives? This can include leveraging ongoing support for managed services versus hiring a whole team.

How a digital transformation consultant can help you prepare for digital transformation:

Partnering with a digital transformation consultant can help you identify your pain points, devise an effective roadmap, and put together a comprehensive action plan that fits within your budget. Coretelligent’s digital transformation solutions, CoreDTS, are crafted to match the business goals of clients, pinpoint any challenges they are facing, and construct technology-driven solutions customized to meet their needs. Using agile methodology, our build-and-operate approach keeps projects running smoothly while managing costs and maintaining clear expectations for tasks. From development to deployment, to maintenance and enhancements, our clients are fully supported throughout their journey. To learn more about how we can help you on your digital transformation journey, contact one of our experts today.

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Serious person working on laptop holding papers, 5 Signs Your Business Needs Digital Transformation overlayed in white text with Coretelligent logo in bottom left

5 Signs Your Business Needs Digital Transformation

Digital transformation is no longer a luxury for businesses—it’s an absolute necessity. Organizations that fail to invest in digital technology and transform their operations risk becoming obsolete in the ever-evolving business landscape. But how do you know when your company needs to make the switch? We break down the top five signs your business needs digital transformation.

Five signs that you could benefit from digital transformation services and solutions:

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Serious person working on laptop holding papers representing the signs your business needs digital transformation services and solutions

 

Your Productivity Stinks

Issue: Manual operations and outdated processes are inhibiting progress.

An effective, efficient team is critical to your bottom line. If your workforce struggles to meet deadlines, fulfill requests, or hit targets, it is time to address the roadblocks hindering their success. One of the biggest signs your business needs digital transformation is likely the most obvious: overreliance on analog operations.  Analog operations, such as paper document management or manual data entry, are some of the biggest culprits of lost time and data errors. Clunky, multi-step processes that rely on disparate, disconnected systems can also slow down performance. And accessibility issues—from remote office workers struggling to connect to on-premise servers, to personnel in the field unable to access or view information on the road—can negatively impact productivity by inhibiting secure collaboration.

These digital transformation solutions and services can modernize existing processes, streamline operations, and automate manual tasks for improved efficiency:

  • Workflow Automation
  • Data Integration
  • API Integration
  • Data Visualization
  • Application Development

You Aren’t Making Data-Driven Decisions

Issue: Lack of proper data management bars you from gaining insights.

Data is being captured at an astronomical pace that is growing every day. But no matter how many data points you collect, if you don’t have a way to properly store and synthesize that data, you simply cannot make fact-based, data-driven decisions. Common data management pain points include overwhelming amounts of data that are impossible to manage; data coming in from different sources that require consolidation; discrepancies in data and reporting; too much time list to report generation; and the inability to access historical data for trend analysis.  An effective data management system can help you store, organize, and analyze your data, and provide you with an information-rich resource to enable data-driven decision making.

Data management services that can help you gain actionable insights include:

  • Analytics Services
  • Data Integration
  • Dashboards, Reporting & Visualization
  • ETL (Extract, Transform, Load) Services
  • Data Warehousing and Data Lakes
  • Data Quality
  • Data Governance
  • Database Administration

Related Content → Read about Coretelligent’s data analytics, data management, and business intelligence solutions → Data Management from Coretelligent

Your Competition is Winning

Issue: User delight is down, impacting customer retention and acquisition

If you are trailing behind your competition, chances are digital transformation can help in a variety of ways. Most directly, digital transformation services and solutions can provide an easier, more accessible way for prospects to connect with your products and services, while also helping to build trust with existing customers. Additionally, lost opportunities due to poor data management and the inability to act quickly to user demands can negatively impact your bottom line.

Digital transformation services that can have direct customer impact include:

  • UI/UX Services
  • Web Development and Enhancements
  • Application Development
  • API Integration
“The point of digital transformation isn’t to become digital.
It’s actually to generate value for the business.”
— Rodney Zemmel, McKinsey & Company

You Are Losing Money

Issue: Maintaining the status quo is becoming a financial burden

Operational expenses will always be part of doing business, but an allegiance to your legacy tech or resistance to upgrading your operational processes could literally cost you. Switching from manual to digitized processes can come with obvious savings, from reduced on-premise server maintenance costs to decreased spending on physical document management. But you may be surprised at how much you are losing on legacy tech and existing systems that can be upgraded with cheaper, more effective tools or revamped to serve you better.

How digital transformation services and solutions helped reduce costs for a leasing client:

  • Coretelligent’s digital transformation services team, CoreDTS, helped a financial services client slash the bill of a popular CRM by creating an API in their web application that called on the same data using a different method. This change reduced the number of licenses required to access the data and in turn lowered their subscription cost. Finding unleveraged tools within your existing platforms, such as MS 365, or missing integration opportunities are big areas where money—and time—can be saved.

Related Content → Read about Coretelligent’s Workflow Automation Solutions

Your Business Has Changed

Issue: You need to adapt to your new normal

Has your company switched to a hybrid or remote workplace? Have you undergone a fundamental business transformation, like a merger or acquisition? Has your footprint expanded to include new divisions or locations? If any of these situations are familiar, you must adapt to your changing business needs. This includes ensuring remote workforces can continue operations smoothly and securely; ensuring data from merged businesses is strategically consolidated and leveraged; and that your business is prepared for growth and the increased level of data, security, and compliance that may be required.

Key areas of business transformation opportunity can be found in these digital transformation solution sets:

  • Data Management, Analytics, and Business Intelligence
  • Workflow Automation
  • Compliant Infrastructure
  • Emerging Technology

Digital transformation is an essential part of successful business operations. Now that you know the signs your business needs digital transformation, you can take a more proactive approach. By investing in modernizing your organization and embracing technology, you can stay ahead of the competition and continue to remain profitable. Make sure to assess your current systems and processes regularly and invest in new technologies as needed so that you can remain competitive in today’s marketplace. And if any of the signs listed above are present at your company, it may be time to consider leveraging digital transformation services and solutions.

To jumpstart your optimization journey, connect with Coretelligent’s team of digital transformation experts and get started on your path to success.

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5 Digital Transformation Success Factors

Man smiling at camera holding a laptop in conference room happy because he has achieved the 5 Digital Transformation Success Factors

Digital transformation is intrinsically linked to technology, but the most vital digital transformation success factors are less about tech and more about planning, strategy, and support. Here we explore our five must-haves for a successful digital transformation and how you can achieve them in your organization.

Our top 5 digital transformation success factors are:

1. Be proactive
2. Avoid Band-Aid solutions
3. Focus on the need, not the tools
4. Prioritize user adoption
5. Don’t go it alone

1. Be proactive

“The key to cutting through the confusion is to see that digital transformation is not a single thing, but a multi-faceted journey with differing goals depending on your industry and digital maturity.” – Harvard Business Review

Digital transformation is much more than implementing technology. It’s a fundamental, holistic change to the way businesses run. Whether you have identified areas of improvement or wish to undertake digital transformation as part of organizational growth, you must consider your current and long-term goals. This is likely a no-brainer. But you also must take it a step further: you must look at the total impact and buy-in for digital transformation across your entire organization. This begins with a deep understanding of your existing infrastructure, architecture, processes, and teams. (In the case of mergers and acquisitions, this includes evaluating the landscape of all organizations to ensure unified integration.) Next, stakeholders and product owners must be in alignment regarding the viability of service implementation. This includes setting practical timelines and budgets with added consideration to how change requests may influence each. Also critical is establishing realistic expectations for existing teams, including if IT teams can support new infrastructure or if support solutions like MSP services may be required.

Successful digital transformation is never impulsive or performed in a departmental vacuum, but it can be challenging to know how to take the first step towards a clear and cohesive strategy. A practical starting point begins with creating an IT Plan and road map. Download our IT Planning e-book to get started.

Related Content →  What is digital transformation? Watch the video to learn more.

2. Avoid Band-Aid solutions

Being proactive is ideal, but sometimes things need to break to galvanize us into action. And seeking quick fixes, depending on the severity of the issue, can be tempting. But patching a leak will only delay the flood. What’s worse? Small ad hoc fixes can exacerbate the issue by adding even more layers of complexity to dig through, often leading to elevated costs and delays. Resist being led astray by reactive urgency. It is important to evaluate the root cause of issues to prevent recurrence and maintain long-term success.

Working with digital transformation solution experts can help you investigate pain points and identify areas of improvement. At Coretelligent, we help clients develop the strategy required to keep digital transformation projects on track and in line with business objectives. We also help clients with ongoing maintenance and support to ensure systems stay secure and running at peak performance.

3. Focus on the need, not the tools

It is human nature to be drawn to the new shiny thing. But just because a new solution, technology, or tool seems ubiquitous doesn’t mean it’s the right fit for you.

It’s important to consider your end goals and ability to implement before making costly investments in technology that may not deliver. Consider these questions: Does the technology really serve all your needs? Does it pair well with your existing technology stack? Does your existing platform possess the same yet untapped capabilities desired? Do you have a team with the expertise and bandwidth to implement and support new initiatives?

We recently worked with a professional services client that wanted to gain insights and visualizations into disparate data but didn’t have the expertise to implement the tool they purchased for the job. Coretelligent helped the client gain insights by using their preferred tool and leveraging capabilities within their existing platform.

4. Prioritize user adoption

Another key digital transformation success factor is user adoption. This is of equal importance for both backend users and customers alike for digital transformation to succeed.

Employees

Enthusiastic user adoption is a critical component of successful digital transformation, and it starts with your employees. It can be challenging for teams to transition to new working methods, especially if they have grown accustomed to specific technologies and are comfortable with the habits they have structured around them. Introducing digitalization and automation may also create anxiety regarding job retention or skill capability. To help ease this culture shock, it is vital to keep teams informed and educated through the digital transformation journey. This includes providing training and being open to feedback, which can aid in identifying bugs and opportunities for enhancements. Ultimately, how well your teams adapt and adopt will translate directly to the effectiveness and efficiency of your digital transformation initiative.

Customers

You must also consider the impact on your customers, particularly if digital transformation will modify product adoption. As an example, a utility client wanted to enhance user onboarding but did not have the digital infrastructure to support their initiatives. They identified a need for a more robust, self-service website and a paperless method for new user registration. However, many of their existing customers were elderly, still preferring to manage accounts by mail and paper check. While it was important for the utility to create a web interface that modernized their customer journey, they needed to be sensitive to existing customers who would not or could not adopt digital practices. Ensuring all customer journeys remained intact was critical to the digital transformation, even if it meant retaining some traditional methods. Keeping all parties informed about changes and educating them on how to use new features allowed both new and existing customers to feel supported and more likely to remain loyal to the brand.

5. Don’t go it alone

At the end of the day, the root of all digital transformation success comes down to one key factor: support. This includes ensuring you have firm commitment to your digital transformation initiative from within your organization—and from digital transformation experts.

Even the best internal IT teams may fail at digital transformation because it is simply not what they do. Adding on an entire shift in operating procedure can be overwhelming to existing teams. Digital transformation experts help organizations objectively assess needs and develop a plan that modernizes, streamlines, and enhances existing practices with architecture and technology complementary to existing infrastructure.

Related Content → Read how Coretelligent’s CoreDTS team helped a client realize their digital transformation goals → Leveraging Digital Transformation: A Multiphase Case Study.

Working with a digital transformation services provider like Coretelligent goes beyond technical implementation. A major component includes advising clients throughout the digital transformation journey for continued support of their organization. By maintaining open communication with stakeholders and product owners, the collaboration allows clients to receive a total picture of their business’s innerworkings, guarantees buy-in, and provides more opportunities for improvement and finetuning along the way. Plus, digital transformation experts will provide training and support to ensure your teams are equipped to maximize the potential of your solution.

 

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Year-End IT Planning

Year-End IT Planning & Reviewing Your IT Roadmap

Year-End IT PlanningAs we move into the last quarter of the year, it’s time for the annual review and realignment of your IT planning and strategy. Of course, you have actively been implementing your IT roadmap throughout the year, but a year-end IT planning and review is an opportunity to evaluate its effectiveness and update it for the upcoming year. Here are some things to keep in mind as you plan for the end of the year.

Year-End IT Planning and the IT Road Map

An IT roadmap is a strategic plan that outlines how your business will use technology to achieve its goals. A well-planned roadmap can help your business scale, improve ROI, reduce risk, and increase productivity.

Utilizing an IT roadmap ensures that your IT investments drive value and growth. In addition, a comprehensive plan can help identify areas of your organization’s IT infrastructure that need improvement and prioritize addressing them.

As with any plan, a strategic IT roadmap is only effective if you use it. A high-level annual review offers an opportunity to evaluate successful goal completion, realign with business goals, re-examine key initiatives, acknowledge and implement a plan for gaps, and provide valuable data for setting future KPIs.

What Should a Year-End Review Encompass?

As with other company activities, the year-end technology review reflects what you put into it. So don’t regard it as a meaningless exercise; instead, see it as an opportunity to get valuable information about your company. While results vary from firm to firm, there are certain aspects that all year-end reviews have in common.

1. Review the Current Technology Roadmap

Appraise the initiatives, tactics, and timelines of the current IT strategic plan to evaluate successful completion and future updates.

Reassess the technology of the organization, including:

  • Cybersecurity practices and policies
  • Technology infrastructure
  • Cloud storage and applications
  • Processes and data governance
  • Due diligence, compliance requirements, and risk management

2. Review Business Goals

The review process should also start with refreshing yourself with your company’s mission, vision, and values. Then, this is an opportunity to assess business functions and realign with these foundational pillars.

Of course, a review would not be complete without the inclusion of the business goals for the year you are looking back over. These business objectives can help you formulate a list of questions that can be answered through your review.

Review current business objectives, initiatives, and IT needs across the organization to determine IT initiatives. SWOT analysis can help identify gaps in IT needs across the organization. Key elements to include in the plan include proactive cybersecurity, compliance requirements, business drivers, expected growth, risk management, and identifying opportunities.

3. Assess Key Performance Indicators and Results

Determining success by reviewing metrics is key to establishing the effectiveness of any plan, and an IT roadmap is no exception. Beyond assessing whether goals were completed, there’s also plenty of insight to be gleaned from evaluating the objectives you did not reach. Undergoing this exercise is where the work of developing next year’s IT roadmap through identifying gaps and deficiencies, goals out of alignment, and new technology needs begins.

4. Putting IT All Together for Next Year

The outcome of this exercise is to use these findings from this strategic year-end IT planning process to set initiatives and develop strategic goals for your organization for the upcoming year.

Additionally, business leaders should look externally and evaluate business drivers and market forces, apply competitive research, and assess technology disruptors when determining upcoming IT priorities and business goals to include in next year’s plan.

Download our e-book Paving the Road to Success with Strategic IT Planning to learn more about how developing and implementing an IT roadmap can steer your firm towards success.

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Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

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How to Develop an IT Strategy

How to Develop an Effective IT Strategy for Your Business

What is IT Strategy

Information technology (IT) is the backbone of every business today. And an IT strategy is a framework designed to enable your business to meet its goals and succeed. Your IT strategy can set you up for success or put you on a path to failure. Think of it this way, not utilizing a plan is like driving cross country without a map, GPS, or other tools to ensure you arrive at your destination.

Don’t want to leave your success up to chance? We’ll show you how to build, pitch, and optimize your IT strategy to best align your technology and business strategies.

What is IT strategy?

So what is IT strategy, and why do you need one? A healthy IT strategy and plan can ensure that your IT investments drive value and growth. It is a comprehensive document detailing how your business uses technology to accomplish its goals. A well-established plan allows for scalability, increases ROI, strengthens cybersecurity, improves productivity, reduces risk, and more. In addition, a thorough strategy can reveal areas of your organization’s IT infrastructure that need improvement and help you focus on addressing them.

How to Develop an IT Strategy

Not sure where to begin in developing your own IT business strategy? Here are the introductory steps:

  1. Review current business objectives, initiatives, and IT needs across the organization to determine IT initiatives. SWOT analysis will help to identify gaps. Then, define the key elements to include in the plan.
  2. Complete an IT audit throughout the organization to create a snapshot that includes:
    • Cybersecurity policies and documentation of procedures and controls
    • Hardware and software inventory for on-premise environments
    • Cloud solutions and applications
    • Processes and governance
  3. Create an IT roadmap by developing strategic IT initiatives, the tactics that support them, and a completion timeline. Include short-term and long-term projects.
  4. Define metrics and how you will determine success.
  5. Review and repeat.

When completed, your IT strategy creates a roadmap that aligns technology with business strategy.

Implementing an IT Strategy

While an IT department might be well-positioned to execute a strategic plan, IT alone cannot guarantee success. The success of the strategy also depends on buy-in from company leadership. Partnering with a managed service provider (MSP) with a proven track record can help make the business case to leadership. When making the business case for your IT strategy, it is critical to illustrate how IT initiatives will support the business. Provide concrete examples of the advantages that technology can deliver.

In today’s business environment, technology is a significant component of success. As your organization grows, resolving day-to-day technology issues will not be enough. Your IT operation will need to progress from strictly reactive to proactive. Only with thoughtful planning can IT lead your company in meeting its goals.

Choosing an MSP with expertise as a strategic partner gives your company the advantages needed to stand out from the competition, maximize profits, and expand.

Trust Coretelligent’s Experience

At Coretelligent, we understand the business imperatives that drive intelligent technology decisions. While other MSPs do not offer strategic engagement, IT business strategy development is the foundation of every Coretelligent relationship. We are ready to work with you to craft a roadmap to optimize your IT platform for your current and future needs.

Our technology strategists can support your internal team in creating and making the business case for your IT plan. Our approach to strategy is deliberate, thorough, and insightful. We bring years of industry-specific expertise to the table and have significant experience providing strategic guidance to clients in financial services, life sciences, and other sectors. Contact us to learn more and begin your journey to success.

 

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IT Strategy for Business: 6 Components You Can't Ignore in 2023

IT Strategy: 6 Components You Can’t Ignore in 2023

In-house IT teams often become caught in a cycle of responding to issues as they arise instead of taking a proactive approach due to the overwhelming volume of tasks they must handle. But this break/fix method is not sustainable. To prioritize and support business goals, organizations must look beyond day-to-day transactional IT and toward long-term IT strategy for their business.

This need is why Coretelligent offers clients Virtual CIO (VCIO) sessions which provide an organization’s in-house IT with the leadership and guidance needed to make critical IT decisions. VCIO sessions are an opportunity to discuss the state of your IT infrastructure and how to make improvements so that it’s proactively supporting your operations.

Like all strategies, your IT strategy is not a set it and forget it process. At Coretelligent, we regularly evaluate our clients’ IT infrastructure and make proactive recommendations to keep them secure, compliant, positioned for growth, and aligned with their business goals. To ensure your IT roadmap aligns with your business initiatives, here are the topics we suggest you reevaluate at least once a year.

Six topics that you should address with your IT Partner in your next IT strategy session:

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Laptops and hands on a table discussing IT Strategy for Business and the 6 Components You Can't Ignore in 2023

 

Cybersecurity

Year-over-year, cybersecurity attacks and incidents continue to increase. And with more companies shifting to a permanent hybrid or work-from-home policy, more vulnerabilities are uncovered every day. Without the proper infrastructure, remote work environments can present substantial security risks. Coretelligent stays abreast of cyber threats and compliance regulations in our client’s industries. We make recommendations to address these threats, as well as client-specific vulnerabilities.

Endpoint security is critical with the transition to a remote workforce. Your IT partner should be monitoring your infrastructure, including your endpoints for cybersecurity incidents, and running regular vulnerability assessments. During your IT strategy meetings, they should make recommendations on how you can improve your endpoint security with tools like endpoint detection and response (EDR) platforms and security awareness training. If your IT partner is providing user security awareness training, ask if they are validating the effectiveness of that training with phishing testing.

Compliance

In an ever-changing regulatory and security climate, firms that attempt to meet the obligations set forth by regulators by using manual processes can quickly cause inconsistencies that are not easily discovered without a full audit of systems and processes. Coretelligent’s VCIO sessions provide compliance strategies for aligning your policies, procedures, and systems with regulatory standards.

Proper access management is the foundation of cybersecurity and compliance. Your IT partner should regularly evaluate your current IT strategy and create a plan to close any compliance gaps. This includes reviewing and updating your data governance policies and procedures.

Cloud Strategy

There is no one-size-fits-all when it comes to cloud strategy. Many organizations take a multi-cloud approach, having a combination of public and private cloud solutions. Depending on your business needs, you may require a hybrid cloud model with some systems on the cloud while others remain on-premise. With a variety of combinations, how do you know which cloud strategy is right for you?

Ultimately, your cloud strategy will depend on your operations, data, business goals, and budget. Coretelligent’s consultative approach to cloud solutions ensures that client’s cloud strategies and solutions are built around their current and future business goals. If you have questions about scalability, mobility, and availability, the cloud is a topic you will want to discuss with your IT partner.

Collaboration Platforms

Daily operations rely on employees’ ability to communicate efficiently. Coretelligent provides clients with recommendations for collaboration tools that optimize workflows. Sometimes, clients can reduce costs by consolidating to one collaboration platform.

Your IT partner should make recommendations that increase productivity while maintaining security and compliance. Is your firm subject to compliance standards requiring communications archiving? An IT partner familiar with your industry and compliance standards can ensure you are securely archiving emails and video conferencing communications.

Business Continuity

In addition to optimizing your IT infrastructure for security and operational efficiency, Coretelligent uses time during your VCIO session to discuss business continuity. We evaluate the systems and procedures you have in place in the event of a breach or disaster and then make recommendations on how to improve them.

When was the last time you reviewed your disaster recovery plan? Have you tested it? Your IT partner should help you review and update your disaster recovery plan. They should ensure your backups are secure and accessible even during a disaster. Does your IT partner regularly maintain an asset inventory? Maintaining an accurate list of your assets and their locations is often required by regulatory agencies.

Digital Transformation

And finally, ensuring your business is positioned for continued success means making sure you can achieve your business goals and prepare your organization for the future. Digital transformation leverages platforms, tools, and expertly crafted IT strategy to create, implement, and maintain custom technology solutions that will keep your operations running smoothly.

Evaluation by a digital transformation consultant can help you navigate how to enhance process efficiency, improve customer experience, gain greater data insights, and even lower operational costs. Coretelligent’s CoreDTS team takes a holistic approach to assess and address common pain points that can be resolved with best-in-class technology and IT strategy.

 

A Comprehensive IT Strategy for Your Business

Not all IT teams or MSPs have the expertise to provide meaningful recommendations for your IT infrastructure. Too little experience could result in purchasing unnecessary or insufficient tools which can cost your business money. Organizations looking for long-term success must move away from the break-fix methodology.

At Coretelligent, IT strategy comes standard. We have years of experience developing IT roadmaps for firms in highly regulated industries like financial services and life sciences. Looking to improve your security, migrate to the cloud, or need support with IT planning and strategy? Coretelligent can help! Contact us to schedule a VCIO session.

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Business technology trends

9 Business Technology Trends to Watch in 2022

Think About It
It is no secret that business needs to stay on top of the ever-changing technology landscape. Companies that do not keep up will not succeed in the digital age. But, depending on how fast your business adapts, you could be missing out—or left behind altogether.

As a new year begins, we start to see lists touting the latest information technology trends to watch. However, it can be a challenge for non-technological business leaders and busy IT managers to keep up, digest, and make thoughtful decisions about the technologies in which to invest.

In this post, I share nine tech trends that we consider the most impactful for our clients and similar companies in the coming year.

For a deeper dive on how these trends will impact your business, download the free white paper → The Top 9 Business Technology Trends to Prepare for in 2022.

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The Top 9 Business Technology Trends to Prepare for in 2022.What Are the Biggest Technology Trends for 2022?

  1. Data Fabric

Gartner defines data fabric as a “concept that serves as an integrated layer (fabric) of data and connecting processes.”

  1. Distributed Enterprises

As we have seen the rise of remote and hybrid work, we also see an increase in the distributed enterprise model. The distributed model entails co-locating various teams that make up a company.

  1. Cybersecurity Mesh

Escalating cyber threats and decentralizing the workplace requires an innovative approach to cybersecurity. Enter the concept of cybersecurity mesh which broadens defense beyond a central physical plant.

  1. Hyperautomation

The growing utilization of artificial intelligence (AI) in business processes has been a powerful technology disrupter. Hyperautomation is one of the leading outcomes of this development.

  1. Privacy-enhancing computation

Privacy-enhancing computation (PEC) is part of a collection of methods helping to solve the challenge of achieving data privacy.

  1. Low-Code/No-Code

Low-code and no-code techniques allow non-developers to piece together without specialized knowledge.

  1. Predictive Analysis

Predictive analysis is a data-driven assessment that is used to forecast the likelihood of a given future outcome using historical data and machine learning.

  1. Networking, Connectivity, and Security for Remote and Distributed Work

Whether part of a formalized hybrid or distributed workplace model or just a liberal remote work policy, dealing with protecting data and systems is the new normal.

  1. Cybersecurity

Finally, cybersecurity deserves to be singled out as it will remain a constant focus for IT in the coming year. Discover which types of cyber attacks are expected to increase in 2022 in the whitepaper.

Technology Trends and Strategy

While these are not the only tech trends of note, they are the trends that we expect to have the most impact on SMBs in specific sectors. We, at Coretelligent, will be tracking these trends and collaborating with our clients as they navigate the challenges and opportunities they bring.

The business landscape is constantly changing, and it’s crucial to adjust your business strategy accordingly. As a leading managed service provider with industry-specific experience and a full suite of IT solutions (including IT strategy and planning, cloud services, and more), Coretelligent is exceptionally well-positioned to help executives and business owners decode these trends. We can help guide your business in determining what technology enhancements are appropriate to incorporate into your technology strategy.

Reach out to learn more about our solutions and continue the conversation about technology and strategy.

Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer at Coretelligent, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

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9 Obstacles to Scalable Technology for Growing SMBs

9 Obstacles to Scalable Technology for Growing SMBs

Think About ItScalable technology is an area of regular concern for companies throughout the growth cycle, but it is a make-or-break-it concern for early- to mid-stage companies. At this point, the introduction of IT compliance requirements for privacy, data storage, cybersecurity, reporting, and more create a technology imperative that cannot be ignored. Due diligence requests from investors to determine a company’s viability combined with government-mandated compliance requires a serious assessment of an organization’s technology. And that means proving that your technology infrastructure can meet its current business needs and effectively scale as your company grows.

You can read more about the intersection of compliance and technology here (and specifically for  financial services here and life sciences here).

9 Obstacles to Scalable Technology for Growing SMBsScalable Technology is Mission Critical for Growth

In considering scalable technology solutions, it is essential to remember that IT functions do not exist in a vacuum but touch every aspect of business operations. In addition, the roots of technology extend further into operations as your company grows. IT impacts the success or failure of every function from quickly and seamlessly onboarding an ever-expanding pool of employees to implementing software to manage clinical trials and for your biotech startup or developing a technology stack that guarantees uptime for your investment firm. Leveraging technology’s power will become critical as your company progresses from startup to Series A and B.

Technology scalability can be defined as the range of a system’s ability to expand as demand changes. Anticipating how quickly storage loads can be increased or how databases will respond as new users are added are examples of gauging scale. Scalability is an almost constant operational concern but matters most during periods of rapid growth. The twin points of capacity and flexibility can be used to measure the scalability of any technology system.

Scaling technology should be viewed as an investment that reduces growth busting complexity and silos, includes flexible software and infrastructure, aligns with industry best practices, increases efficiency, and recognized as a revenue enabler and driver.

Taking a deeper dive, just what are some key areas of consideration for scaling technology for early-stage to mid-stage companies?

9 Factors for Delivering Scalable Technology

  1. Cloud Infrastructure – Cloud computing offers businesses the opportunity to realize cost savings, increase flexibility, and reduce complexity. However, things can get complicated as a business needs a scalable system. Out-of-the-box cloud services may no longer provide the required sophistication, and a customized mix of public, private, or hybrid cloud solutions is necessary. Increased spending will be needed to address additional processing, storage, and security requirements.
  2. Emerging Technologies – Be aware of developing technologies that could act as disruptors to your industry. For example, machine learning and AI have transformed various industries—some companies were ready to adapt, and some were not. Whether they deliver opportunities or challenges, emerging technologies can be significant game-changers that require a series of proactive steps or investments. For example, just think how different Blockbuster’s future could have been if they had only taken advantage of the industry-disrupting online DVD rental market sooner than they did.
  3. Avoid Data Silos – To the digital enterprise, data silos are anathema to growth, yet they are prone to develop as an organization scales. Therefore, as a company expands, it is essential to have a data management and governance program to address these silos before they become entrenched.
  4. Growing Employee Base – Your workforce is only as good as the technology it utilizes. From employee onboarding to performance management, your technology needs to seamlessly accommodate a growing workforce.
  5. Software Integrations – Be mindful of painting yourself into a corner with software applications and integrations as your organization scales. The scalable approach is to deploy a line of business applications with native support for integrations. These scalable business applications reduce the likelihood of data silos and the creation of time-consuming processes to counteract non-interoperability.
  6. Managing Collaboration – Collaboration is critical at any stage, but effective collaboration can suffer as an organization grows. A scalable collaboration platform should enable file-sharing and facilitate workflows seamlessly across a growing user base while protecting against security breaches.
  7. Building Processes – Document processes as your business scales to ensure a framework for producing repeatable and predictable results. Scalable processes can be executed quickly and efficiently as increased volume, more users, and greater complexity demands.
  8. Growing Necessity for Support – No matter your sector, planning for IT support is integral for your growing enterprise. As you add capacity, support can quickly become unwieldy or unresponsive and be a real stopgap to growth. As the number of users expands, the demands on an internal support team magnify. Planning for this challenge by outsourcing support to an IT partner will keep your firm on a growth trajectory.
  9. Increased Need for Cybersecurity and Compliance – Both cybersecurity and compliance increase in complexity as your company grows, especially in heavily regulated industries like financial service and life sciences. As a company progresses from startup to the funding stages, it needs to be prepared to take on the increased cybersecurity and IT compliance requirements that come with growth.

Leave Technology to the Experts

One solution for managing these scalability factors and optimizing growth is to focus on core competencies and leave the technology to the experts. A recent benchmarking study from Fidelity demonstrated that financial services advisors who outsourced reported higher growth. By outsourcing some or all your technology functions, you can focus on expanding your business and not your IT unit. Building in-house IT requires an enormous investment in both people and technology. Instead, choose the best scalable solution by partnering with Coretelligent to leverage our years of experience, industry-specific knowledge, and strategic technology advisors. Our scalable technology solutions will allow your internal teams to increase their focus on revenue-generating activities and achieving business goals.

Chris Messer, Chief Technology Officer at Coretelligent, HeadshotAbout Chris

As Chief Technology Officer, Chris Messer is a transformational and strategic IT leader who establishes and leads Coretelligent’s technical vision and technological development. Click here to learn more about Chris.

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Dallas Managed IT Services

Coretelligent Reinforces Commitment to Support with Expansion of Dallas, Texas Managed IT Services

Coretelligent, a leading IT services provider for the financial industry, announces the expansion of our field offices to provide Dallas Managed IT Services. This extension allows Coretelligent to accommodate the accelerated growth of financial firms in the Dallas–Fort Worth metro area and offer a wide variety of high-quality solutions, including virtual CIO, Help Desk, cybersecurity & compliance, disaster recovery solutions, cloud solutions, our White-glove approach to business, and more to clients in the region.

Dallas Managed IT Services

Reliable, Secure IT Infrastructure

Reliable and secure IT infrastructure is a necessity for financial firms of all sizes–large, small, and mid-market enterprises– in today’s landscape. Dependable infrastructure can provide a competitive advantage by delivering reliable uptime and offering the protection needed to manage the threat from cyber-crime. As an experienced solutions provider, Coretelligent can keep your company safe from cyber threats with our advanced network monitoring & management, security firewall protection, and other security measures. With a team of experienced, knowledgeable, and dedicated financial and technology experts, Coretelligent can assure that you will have the support you need to support your business processes and reach your goals.

Managed IT Services

Having a solid IT infrastructure is not just an advantage in the financial industry—it is a requirement–and our service levels can help give your firm that edge. Coretelligent understands the specialized technology needs for hedge funds and alternative investments from SEC-regulated archiving and backups to specialized trading applications. In addition, we provide IT strategic expertise, managed and co-managed support, proactive maintenance, cloud migration, and start-up and relocation support. From cost-effective fixed price-per-seat agreements to full-time placements, we can suit any sized client’s budget and operational costs with a range of pricing options.

About Coretelligent

Coretelligent are industry leaders providing comprehensive solutions for financial firms of managed IT support services, cybersecurity, and cloud-based solutions. Our team of world-class professionals provides top-tier organizations with a wide range of services needed to thrive in today’s digital economy. We’re proud to be one of the most awarded IT service providers in the nation.

With a proven track record of providing complete business IT solutions 24/7/365 days a year, our innovative proprietary technology solutions and a full suite of security services ensure exceptional business performance, data protection, and security for our clients’ most sensitive information assets across a variety of industries.

Founded in 2006, the company has offices in Massachusetts, Maine, New York, Connecticut, Georgia, and California, with expanded support locations in Dallas, Los Angeles, Philadelphia, Tampa, Washington, DC, and West Palm Beach.

Learn more about our about how to create a partnership for technology success with Coretelligent in the larger Dallas–Fort Worth, TX service area.

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