What is our long-term technology strategy?
Unwrapping the enigma that is the long-term technological strategy can often feel like you're staring into a foggy abyss. It's a big question and one that carries substantial weight, as it drives the direction of your company's future technological initiatives. To pave a path to success, there are a few key considerations businesses must keep front-of-mind.
Starting with Solid Foundations
Ensuring that your technology's starting point is a solid one, with no risk of it being abandoned in the following few years, is a crucial aspect of every long-term strategy. Apparel companies wouldn't make denim jeans from a fabric that will be obsolete tomorrow, so why should digital companies base their future on a technology that might evaporate in the next few years? Your foundations must be solid, forward-thinking, and adaptable to future innovations.
Managing System Complexity and Scalability
System complexity and scalability should be deftly managed and always under your control. If there comes a time where your system no longer appears well-designed or captivates you, this could be an indication that your technology strategy needs reassessment. This could be a call to action to realign your key components and reconsider the software that was once thought as the panacea for your business needs.
Creating and Adapting to Plans
Always keeping a strategic timeline in mind is critical when it comes to technology planning. You should always have the foresight for your 3-month, 6-month, 1-year, 3-year, and 5-year plans. The vision for where your technology should be in the next half-decade should be clear in your vision. If your company's resources and capabilities align with this vision, then you're on the right track for a successful long-term technology strategy.