“Return To Growth – that’s what the article discusses in the June 28th, 2010 Information Week. Does your company prioritize IT spending? It is a highly debated topic in some companies; a budgeted and automatic spend in others.
Some interesting factoids from the article:
- Results of 333 IT executives surveyed showed that half of them will focus on streamlining business processes in 2010 to build growth.
- IT companies have been dealt some serious blows in recent years. They understand and feel most comfortable providing solutions to their clients that make the business more efficient.
And it should be. Why not, easy wins, easier user adoption, proof of understanding? It’s all about reducing the transaction time.
Many in the manufacturing, distribution and services industries used to think that spending more money on technology created an improvement in profits and that was the sole motivation for most spending. Be the biggest, the best, and the fastest.
Recession Lessons Learned
In the last few years’ of lean budgets and cutbacks, many companies have learned that spending on technology without a primary business need was a waste of money. Too often the promises of the technology don’t meet the expectations of the users or even solve the specific business need at all. Therefore, adoption drops and often there is no measurable ROI as a result.
Waste not, Want Not
The key to the successful adaptation of a business technology is a first step of a thorough business process evaluation. Find the weak spots and work on them, don’t recreate the wheel.