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Also review – Impact on Revenue blog
Growing your business or struggling with your business, IT Process will deliver beyond your expectations. Scalability is the ability for a business to grow Or, to put it more precisely, a scalable business can adapt to a larger workload without compromising performance or losing revenue. Can your business grow 10 times more in annual revenue company? IT Process provides that scalability for your business.
Every great business center around a core system of processes. No major car manufacturer would survive if each of their cars was hand-assembled from memory. Each car would be slightly different, most cars probably wouldn’t pass inspection. It would be a nightmare.
IT Process is a key for any stage or goals in your business
Growing your business: All business leaders understand that every growing business required some sort of strategy. However, building plan and strategy without measuring your current process and detailed information on gap analysis will result in misalignment of technology and business growth. IT Process bridge all the gaps: It measures current process, provide gap analysis and build IT Strategy with budget to align business goals and technology objectives.
Growth by Acquisition - If you have current IT Process running properly, while taking over new business your process will clearly identify opportunities for consolidations and transition process. Consider following:
- Are you able to run gap analysis on your recently acquired business to find out, time & efforts it will take to bring newly acquired business to your IT standards?
- Do you have roadmap for consolidation on systems and resources?
- If you have access to above information before final sign off, would it help in adjusting business value?
Organic Growth: When growing business organically, IT strategy and roadmap becomes a key component to control cost. Your business growth will not deliver expected profit margin if your operational cost and risk (soft cost) will increase with new growth. If your business is growing but profit margin is not as per your expectations, review your operations strategy…see more on soft cost here.
Scaling down: Either you are positioning your business for exit strategy or scaling down for new business directions/goals, a mature IT Process is a key to increase your business value. Considering cost of hardware and software in market, your IT Assets will not provide as much value as you expect, however your IT Process will impact your business assessment. For this reason, most compliance and business assessments are focused on IT Process rather than your assets – most IT assets depreciate in 3-4 years.
Status Quote: If you are planning to run status quote, you will need to keep your operations lean to get expected profit margins. Your IT cost may not be your issue but impact of IT on business soft cost (Risks, Productivity etc) is critical for lean operations. IT process to reduce and eliminate all soft cost will ensure higher profit margins…read more
Whether your company is a startup looking to scale or an enterprise company looking to find new growth opportunities or scaling new parts of the business, great process is key.
Topics: Insider, Data Security, Productivity, Business Risks, Time, Teams, Revenue, IT Process, Business Impact, Hard Cost, IT Strategy, Technology Cost, Payroll, Profit Margin, IT Department, Low Performance
