Digitalization and high-tech solutions may seem enticing, but without the right focus, they rarely generate business value. No matter what technology can do for your business, it won’t create value if you start in the wrong place. Begin by defining your business goals, then use technology to achieve them. Technology and business must work together strategically, with each tech solution supporting the company’s overall goals and vision. This ensures that your digitalization investments truly generate value and long-term success.
Here are five ways to align your tech and business strategies to succeed with your digital initiatives.
Getting started correctly means first setting the goals. Digitalization doesn't mean just one thing, so it’s important to define what you want to achieve and what the concrete outcome should be. Goals act as a compass, helping you avoid mistakes and allocate your resources wisely. Without goals, it’s impossible to measure results, and you won’t be able to see the value of your investment.
To align tech and business, you need someone with a deep understanding of both sides – someone with strategic business insight who also understands how technology can drive the business forward. This responsibility often lies with a CTO (Chief Technology Officer), a member of the leadership team who participates in strategic decision-making. A CTO understands how technical aspects can be integrated with business goals and can lead that work. Having a CTO and a well-functioning tech organization is crucial for developing a tech strategy that supports the company’s goals and long-term vision.
Read more about the CTO role.
Digital transformation is both a strategic and financial investment. Allocating a sufficient, flexible budget is crucial for covering the costs of innovation, exploration, and solution development. A well-planned budget ensures the project can adapt to unexpected challenges and opportunities that arise during the process, which is common in tech-intensive projects.
Working agilely promotes innovation and quick adaptation to changes, which is critical for digitalization. It’s a working method that emphasizes flexibility, continuous learning, and constant improvement, enabling rapid responses to tech trends, customer needs, and market changes. Regular evaluations of the work allow for early adjustments and reduce the risk of costly mistakes.
A common mistake is to focus too early on a specific solution without clearly defining what you want to achieve. Technology and digitalization should not be the goal itself, but rather a tool to reach business objectives. That’s why it’s important to first outline the business outcomes you’re aiming for and then select the right tools to get there. This creates a strategic line that clearly connects technology with concrete, measurable results.
Succeeding with digitalization is about thinking strategically, setting clear goals, and ensuring that technology helps you achieve your business objectives. By following the five steps above, you can align tech and business, laying the foundation for your digital transformation. In doing so, you can ensure that every tech investment moves your business forward towards sustainable and measurable business results.
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