In the face of emerging technologies, most businesses struggle with security breaches, gaps in applications and middleware, unanticipated costs, and revenue losses. But those businesses that can leverage IT strategically enjoy higher cost savings and ease the complexities of new tech adoption. Business technology management is critical for enterprises to identify non-performing technology investments and upgrade their tech stack to stay relevant, competitive, and profitable.
Why Business Technology Management?
Global expenditure on public cloud infrastructure capabilities and services is expected to increase by 100% in the forecast period of 2019-2023. According to a report from IDC, the spending on the public cloud is expected to grow to approximately $500 billion by 2023.1
As per CNBC, new-age mobile applications are helping SMEs save up to 725 million work hours per year.2 In addition, organizations with more resources than SMBs are prioritizing IT and are satisfactorily adopting emerging technologies 500% faster than startups and small businesses.3
These intense areas of growth mean that businesses in all industries and of all sizes are rapidly leveraging technology to stay competitive. It is critical for organizations to ensure their technology systems are updated and fit for use if they want to keep pace with the evolving technology landscape. They should invest in business technology management to assess whether every part of their technology mix offers value or not. This investment can transform their IT preparedness with strategies to shape processes and tools for the future.
If your business is lagging in technology adoption, these three guiding steps will enable better monitoring, maintenance, and management of your software applications, patches, modules, and IT equipment.
Step 1: Determine if your business technology is outdated.
To begin with, assess your legacy systems and current environment. Are they addressing your business needs, future growth plans, and various technology life cycle phases? It is essential to take stock of your expansion plans and understand how business technology management can support your short and long-term goals.
PAG can conduct an audit of your existing systems to determine the gaps and inefficiencies, saving opportunities, and how new IT systems can be integrated within your budget readily.
Step 2: Take concrete steps to ensure fulfillment of your technology needs.
The business technology consultants at PAG can help you achieve the following:
- Procure technology assets after considering their logistics and financing options
- Deploy and integrate the latest technology tools, solutions, and devices to increase business efficiency
- Set aside funds for future technology requirements and optimization of system components or devices
Step 3: Implement and manage solutions/devices in your existing IT environment.
PAG’s technology lifecycle management can support your IT environment for optimum results. For instance, it can monitor incidents, configure management, provide phone support, evaluate product warranties extension, and carry out periodic reviews of IT system performance metrics to ensure better telecom outcomes.
Connect With PAG
It’s time to fuel your key technology initiatives with PAG. Find additional information for managing your business technology on our ultimate guide to TLM page. Our capabilities in technology business management provide real-time, accurate reporting via automation to reduce your costs and increase the ROI. If you are set to start the journey, explore our Telecom Audit services and change your existing cost-centers to profit-making units today.