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Technology Roadmap: How They Can Save You Money

June 6, 2024
Reading Time: 4 mins
Author: Ray Sweeney

One of the most common phrases we hear is "We don't know what we don't know".

Put another way, business leaders know they could be doing things better, they're aware they may have risks they don't know about, they may even know they're falling behind. The challenge is having a clear picture of what needs to be done and where to start.

An effective solution is adopting a Technology Roadmap. A simple, straight forward document that outlines the various initiatives, investments and ideas on the table to make the business better.

This relatively simple tool is commonly missing from many SMB/MSP relationships, and is generally the greatest separator between a good IT provider and a great IT partner.

Having a technology roadmap saves you money & ensures that your IT investments have a greater commercial return, aligned to your business goals.

Let's explore this topic further, and dig into how a roadmap can save your business money!

 

What is a Technology Roadmap?

 

A technology roadmap is a strategic plan that outlines the technology initiatives and investments a business needs to make in the near future. This plan serves as a guide for aligning technology with business goals, ensuring that IT investments are prioritised and sequenced effectively.

Technology roadmaps can cover a range of areas, including hardware and software upgrades, system integrations, security implementations, and productivity improvements. By mapping out these initiatives, businesses can get a clear picture of their options & strategy; avoiding ad-hoc, reactive decision-making.

Technology roadmaps don't need to be complicated. As an example, we keep things simple for our clients by visualising the various initiatives as cards spread over quarters in a Kanban style board.

Technology Roadmap

 

How a Technology Roadmap Can Save You Money

 

1. Getting The Order Right

When trying to get from A to B there's always an optimal path. Adopting new technology in a reactive, hap-hazard way can increase overall implementation costs by over 30%.

As an example, implementing new cyber security tools may require certain works or reconfigurations to be done in order for the tools to work properly. Commonly these works may be half a job of something larger. These works may need to be completed again at a later date as part of other initiatives.

By having a plan, efficiencies can be identified in the order of initiatives. Bringing one job forward may reduce the cost of subsequent rollouts by as much as 50% each.

Think about every time you've started a "small job" around the house that's later become a much larger project. In hindsight you'll notice you wasted a lot of time and effort in the early stages as you weren't considering a bigger picture at the time.

A reactive, unplanned approach to IT strategy yields the same result.

 

2. Operating Objectively

If your printer dies on a day you desperately need to print something important, you'll be going to Officeworks and buying the most expensive printer at the end of the isle. Why? it's human nature to place significantly more value on things we see as urgent, scarce or something taken away form us.

This plays out all the time in reactive overcorrections to solve business impacting problems. Speed issues? upgrade the internet to the plan 3x faster than recommended. Laptop issues? replace it with the top model with all the add-ons.

With a proactive approach, you can take the emotion out of purchasing decisions. Businesses with a technology roadmap tend to significantly reduce their capex expenditure by taking a reasoned, strategic approach to purchases.

This not only ensures that the right solution is found, but also that the solution is not oversized or impractical for your business. It's aways cheaper to chase gains rather than recover losses.

Lastly, by anticipating technology needs businesses can take advantage of discounts, bulk pricing, and other cost-saving opportunities.

 

3. Clear Goals & Purpose

What is the purpose of technology in your business? It should be one (or more) of the following:

A well-defined technology roadmap helps businesses understand their goals and purpose when it comes to technology spend. This clarity ensures that each project aligns with the company's strategic objectives and delivers meaningful results.

There are significant costs incurred by every SMB that far outweigh technology spend. Getting value from IT spend should reduce these costs and ultimately save you money.

How much impact could you make to the bottom line if you had a clear picture of tangible ways to increase productivity, reduce overhead and improve customer engagement?

 

Summary

In summary, a technology roadmap is a fantastic tool for small businesses wanting to save money. By planning initiatives, making proactive purchases, and aligning tech with business goals, companies can take control of their IT budget.

Want to learn more? We'd love to chat about what you're life might look like with clear direction and understanding of technology initiatives - Book a Chat.

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