Business leaders around the world were surveyed about their concerns going into the next decade. The top concerns included risk management, talent strategy, and innovation. One way for business leaders to ensure that they remain on the competitive edge as they work to address these concerns is through a well-aligned, proactive IT strategy. Better IT is good for business.
From data breaches to regulatory concerns, risk management is a key factor in business strategy. It is also one area in which an organization’s IT strategy can be used as a tool to limit, and in some cases, eliminate, risk. These are the top 10 risks as rated by Protiviti:
- Regulatory changes and scrutiny may impact operational resilience and production and delivery of products and services;
- Economic conditions may significantly restrict growth opportunities;
- Succession challenges and ability to attract and retain top talent may be more difficult;
- Limited operational resilience of legacy IT infrastructure and digital capabilities may restrict the organization’s ability to compete with ‘born digital’ players;
- Resistance to change may restrict organizational agility;
- Preparedness to manage cyber threats may be insufficient;
- Ensuring privacy/identity management and information security/system protection may be challenging;
- Company culture may not empower timely identification and escalation of risk issues;
- Sustaining customer loyalty and retention may be increasingly difficult;
- Adoption of AI-enabled technologies may require new skills that are either in short supply or require significant upskilling/reskilling of existing employees.
Attracting talent in today’s tough and competitive environment is more difficult than ever. It’s not just IT talent that’s hard to find; but acquiring and retaining skilled talent in every area of business has become and ongoing challenge. With a robust IT infrastructure and a well-planned IT strategy, you can attract stronger talent by offering more workplace flexibility and demonstrating your ability to stand apart from the crowd by offering innovative and cutting-edge technology and tools for your employees.
If your organization is always putting out fires, worrying whether or not your server will crash or that someone will click on the wrong link, you simply don’t have the brain space to be innovative. When your business is functioning at peak efficiency, you and your team have time to think creatively and develop solutions that give you a competitive edge.
Working with a managed IT team can:
- Increase uptime for better customer service
- Ensure timely updates to software for better security
- Improve competitiveness and increase speed to market
- Increase budget flexibility
- Improve efficiency and productivity to allow for innovation
- Improve your ability to attract strong talent
The outlook for Canadian businesses is improving, and you can capitalize on this opportunity. A better IT strategy supports your business by reducing risk, as well as improving your ability to attract talent and your opportunity to innovate. We are committed to helping Calgary- and Alberta-based businesses develop proactive, cost-effective IT strategies that minimize risk and maximize efficiency. Contact us to learn more.