Most organisational leaders are looking to develop their business growth strategy to tap into new markets and increase revenue and profits. Whilst this is a mainstay of business generally, there is a movement to meet the rising demand for high-quality digital services and products and now business growth plans are more closely intertwined with digital transformation. Internal technology leaders are now primed to take centre stage when it comes to facilitating growth by understanding and translating business growth goals into an IT transformation strategy.
Assessing growth goals for IT requirements
The first step is to understand the wider company growth goals. Common business growth goals include:
- Increasing headcount
- Adding new offices or branches in different regions or countries
- Developing new products or services
- Increasing sales or customer acquisition rates
Often business growth goals will encompass more than one of the goals outlined above, and it’s up to IT to facilitate them! To do this, technology leaders need to evaluate their current IT function’s goals and objectives and compare how well it is currently positioned to achieve the new business growth goals.
For example, if an organisation’s growth goals include reaching new target markets and wants to shift their business strategy from re-targeting existing customers to expanding the reach of their online presence to source new leads, they may find that their IT function needs to transform from a business-as-normal structure to a growth model. This could require rapid transformation of:
- Infrastructure or operating models
- Investing in new software or systems
- Re-evaluating existing applications
- Assessing security, regulatory and compliance requirements
How to transform your IT function to meet business growth goals
There are many avenues to consider when transforming your IT function to meet business growth goals. Some of the most popular resources to consider include:
- In-house knowledge and resources
Your IT function already has a solid base of skilled technology professionals and digital transformation projects can offer a great opportunity for up-skilling your team and offering internal career development. A good starting point would be to create an internal transformation project team to brainstorm ideas and research the market and go from there.
However, only using internal resources can create operational challenges as business-as-usual IT processes will still need to be maintained on top of the transformation activities. This can create a lot of pressure on existing staff or may delay transformation delivery and ultimately impact achieving those business growth goals.
- Engaging a technology consultancy
An alternative to pulling in-house resources entirely away from their day-to-day responsibilities is to engage a technology consultancy partner.
A technology consultancy can be engaged at any stage in your transformation journey, they can appraise the situation in line with your current business requirements and future growth goals and offer suggestions for solutions and strategies to reach them. This can be helpful at the beginning to gain industry-best practice advice, or they can help get a project back on its feet if unforeseen impediments occur.
What a partnership entails can vary from consultancy to consultancy, but when you partner with Fruition Consulting, our role is not to replace your teams or tell you how to run your business. On the contrary, our goal is to guide, support and enable your teams to achieve your digital goals and be ready to face future challenges. We can provide a project team of qualified and experienced associates to either manage the project or augment your existing project team.
- Hiring additional resources
Hiring additional permanent staff is also a viable option when transforming your IT function to meet changing business objectives. New priorities for your IT function may open up the opportunity to create new positions and source new skills, technologies and competencies alongside your existing IT workforce. Weighing the cost of recruiting against the benefits of hiring more employees will be a critical part of deciding which option is best to support your developing IT function. Doing your research into the current technology labour market or touching base with an experienced technology and IT recruiter, like our sister brand Fruition IT, can help you navigate this situation.
In most scenarios, which option you choose to explore will be dependent on the split between budget for core operations expenditure (OPEX) and transformation capital expenditure (CAPEX). Many technology leaders opt for a combination of all three, using technology consultancy partnerships to guide the IT roadmap with insightful strategies to achieve business goals, who will then work with your existing team to build or design a new or updated technology stack. This may then create the need to take on new permanent hires to maintain new systems and processes. At Fruition Consulting, we can support your new hires and existing teams by developing their own digital skills to help future-proof your business.
Are you ready to transform your IT function? Get technology consultant support today
Fruition Consulting provides the digital expertise you need to help your business thrive. With an extensive associate network of 200+ specialists, we put some of the best technology talent in the country at your disposal, our mission is to help you unlock the power of technology and get set for future growth. We will support and guide you on that journey, find solutions to whatever challenges you face and make the complex straightforward.
Get in touch to find out more.