27 Nov 2022 - Digital Strategy // By Productive Edge Team

How Do You Develop a Technology Strategy?

As companies grow and evolve their long-term business strategies, technology strategy is one important element to take note of to keep up with demand and stay up-to-date on operations.   Technology strategy services expand your digital ambitions by specifying the scope of your technology foundation and all the execution details needed to connect your digital strategy with successful delivery.

What Is a Technology Strategy?

Technology strategy is the creation of an overall business plan that consists of principles, objectives, and tactics for using technology to achieve organizational objectives. Companies look to technology strategy consultants to implement modern approaches, state-of-the-art technology, and precise execution that meet industry standards. But where do you start? Creating a technology strategy starts with assessing the current state of your systems and how they pair up with your digital strategy ambitions. Maturity assessments provide clear roadmaps, technology selection assistance, high-level architecture, ROI, and detailed iteration plans. The next step is creating a realistic technology strategy implementation plan that addresses your assessment. The ultimate goal is to create modern and resilient technology solutions that scale as your business grows. This can be done with end-state solution architecture and detailed technology blueprints required for delivery teams to execute.  Monitoring and continuing support of your technology strategy is key to ensuring long-term success and guaranteeing customer satisfaction. Assign members to maintain upkeep on the digital outcomes and keep track of initial investment needs to compare the current and future run-rate costs in order to arrive at an ROI you can use to build a business case. woman and man with a tablet looking at data written on a glass to form a technology strategy

The Future of Technology-Led Strategy

The current pace of technology innovation isn’t going to slow down. However, investments in legacy technology can often impede your business from rapidly achieving digitization. Therefore, developing a strong technology strategy is imperative to ensuring the successful execution of your digital initiatives. Technology consultants provide strategic services to ensure your organization's tech strategy connects to your digital ambitions. Consultants take the guesswork out of execution and delivery for desired business outcomes. Applying technology at the speed of innovation has become a strategic priority for every business across all industries that strive to meet growing consumer expectations. Bridging digital strategy with delivery, a successful technology strategy services team should accelerate strategic initiatives with technology strategies tailored to the organization’s specific industry and function.

Examples of technology strategy for specific industries: 

In healthcare, integrated care delivery and consumer healthcare experience are driving payers and providers to focus on data interoperability, consumer analytics, automation, exchange of actionable insights, and intelligent next-best actions at the time of care. For the insurance industry, technology such as modern data platforms, machine learning, intelligent automation, APIs, and content management solutions are driving the shift in how the industry approaches its business and customers.

How Can Productive Edge Help?

Productive Edge provides digital solutions across industry verticals. Using the methodologies of customer-focused research, we are able to understand what your customer's journey is; what their behaviors, motivations, needs, and environmental contexts are; and how that relates to your organization and the individual disciplines that exist within it. We institute a series of methods that cultivate ideas on how to solve any issues identified in both our customer and organizational research, providing more cohesive processes that align with customer needs, goals, behaviors, and values. We then work with key stakeholders to prioritize these ideas relative to the value provided to the organization and its customers while also considering the technological feasibility. With the prioritized list of solutions created in the Ideation Phase, we then create a plan to make these solutions a reality. Want to learn more about our technology strategy services? Contact us today! 
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How Do You Develop a Technology Strategy?