What Is Tech Strategy – Benefit, Purpose, Goals, And More

Tech strategy, or technology strategy, is a business area that plans and manages the technologies used in the company to design, monitor, and manage workflows to achieve strategic objectives.

In other words, the business discipline deals with business planning, management, and technological architecture.

With digital transformation, technology has become central in companies of all sizes and segments.

At the same time, the available digital solutions have multiplied, giving rise to a series of tools, software, and platforms that are implemented in the business to drive its growth.

Therefore, the tech strategy area emerges as a fundamental support point for companies to plan and choose suitable systems to achieve their goals, starting from the strategy to select the technological resources necessary for the business.

We call professionals in this field “tech strategists” or technological strategists – those responsible for analyzing which technologies should be adopted by the company and managing them to optimize results.

How Can Tech Strategy Help Companies Achieve Their Goals?

Technology is a primary means to achieve business goals, as it allows for streamlining processes, automating tasks, and accurately measuring results.

Every company needs a management system to centralize its information and connect the different areas.

This system is the ERP (Enterprise Resource Planning), which has modules for financial control, sales management, accounting organization, inventory control, and human resources, among other resources.

Then you also need to have a system to manage the customer relationship, which  call CRM (Customer Relationship Management). These are the two essential software that a business must implement to automate tasks and gain management agility.

In addition, it is necessary to seek tools to analyze data, automate marketing, manage the sales funnel, manage the processes of the People Management area, and issue invoices and reports, among other fundamental management activities.

These digital solutions represent a significant competitive advantage for companies, eliminating repetitive tasks and saving time and money. In this way, any business objective can be achieved faster and more accurately with the support of technology.

What is the purpose of tech strategy in business?

The tech strategy arises to ensure that companies choose the right technologies according to their goals, succeed in their implementation, and extract the maximum value from their digital, physical, or even reputational assets.

With the increasing availability of technological solutions available in the market, it is natural that entrepreneurs have doubts about the resources needed to manage their businesses efficiently.

Often, all the manager does is copy a competitor’s technology, which has brought good results for him, but this tool will not always be suitable for the company.

Furthermore, it is necessary to have specific know-how in information technology to make the best possible use of the available digital tools so that there is no shortage or surplus of resources.

With the tech strategy, there is a complete study and planning before implementing a new digital solution in the business.

The person in charge of the area must verify if the new technology is necessary, meets the company’s demands, is compatible with its structure, and requires very advanced training, among other essential issues in any innovation.

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What Kind Of Company Needs To Invest In Technological Planning And Management?

In general, every company that needs some level of automation should invest in technological planning and management. This does not depend on the size of the business but its demands regarding technology.

For example, a merchant with a micro-enterprise does not have great technological needs to manage his store, and can opt for a simple management system and even use spreadsheets daily. On the other hand, a startup is entirely technology-based , and may need a dedicat tech strategy since the company’s birth, even if it has a lean team.

In addition, medium and large companies that want to get ahead of the competition need a well-developed technological strategy, as many of their processes require automation and digital control. factory, for example, needs production automation systems, quality management, control of raw materials and suppliers, control of production orders, etc.

The larger the company, the more complex the technological structure needed to automate processes and increase its productivity and profitability – and, of course, the more critical the tech strategy will be.

How Can Tech Strategy Benefit Companies?

The tech strategy provides several advantages for companies that adopt it.

Increase Operational Efficiency

Operational efficiency will measur the company’s ability to deliver results at the lowest possible costs, eliminating waste and optimizing processes in all its activities.

With a tech strategy, it is possible to identify the key processes that must automat to improve business results and eliminate any bottlenecks in operations. In this way, the organization becomes more efficient and makes more rational use of its financial, material, human or technological resources.

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Take A Long-Term View Of The Business

The tech strategy also offers a long-term view of the business, providing managers with greater visibility and the ability to project results.

With the proper data analysis tools, for example, it is possible to generate predictive analyzes from the history of the company and create several possible scenarios for the future.

In this way, the manager has a macro view of the business and the probability of making more accurate decisions and walking toward prosperity.

In this context, artificial intelligence is one of the significant assets of tech strategy, as it allows algorithms to map different scenarios and identify market trends.

What Is The Role Of A Tech Strategist?

The tech strategist, or technological strategist, is the professional responsible for planning and managing the technologies implemented in the company. He doesn’t necessarily need to have training or work as a developer.

It is enough for the professional to have technical and conceptual knowledge of information technology and to be able to combine this background with a strategic vision of business management.

Within the company, the tech strategist will be responsible for the diagnosis, implementation, and technology management stages we mentioned in the previous topic.

He will collaborate directly with the CTO (Chief Technology Officer) to overcome the challenges in the area and ensure that the technology contributes to achieving business objectives.

In addition, the tech strategist will be responsible for controlling information security in each implementation, ensuring the protection of the company’s data and preservation of its informational capital.

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