Have you ever made a decision that saved money in the short term only to lose out on a bigger opportunity?
We live in a world where we often get rewarded for short-term wins while we lose out on bigger opportunities because we cannot see the big picture.
This phenomenon often occurs when organizations are stressed for economic reasons and decisions are driven by short-term priorities.
We also see this in the public markets as companies must perform each quarter and in order to do this, they become focused on short-term wins versus long term results.
Technology decisions often fall into this category especially if the technology is not seen as a strategic lever for the company.
Our experience shows that if the organization looks at technology from a bigger picture perspective and drives its expenditures strategically it can manage both long and short term objectives together.
One organization we have been involved with over a long term history has invested strategically both in good times and in bad times. Their focus has been on using technology to:
- To make better decisions
- Reduce frictional costs between departments and other companies
- Improve productivity
- Leverage technology to reduce overall all costs and per unit costs
Over an 8 year period, they have not exceeded industry average spending for technology and they have expanded and contracted their budget in good and bad times while continuing to focus on the main goals of the organization.
They have improved accountability, driven a 30% productivity improvement, established more strategic reporting and reduced rework while building a sustainable long-term infrastructure and platform that they can continue to drive value from.
Looking at problems strategically and with the big picture in mind often leads to greater rewards in the long term and also allows you greater flexibility in the short term.
CEO Founder – Innovation Centric Group
For more information on how ICG can help your company visit our website: http://icgteam.com/