Technology has long played a critical role in the work of accountants. Some of the oldest relics of human civilization dating back more than 7,000 years ...
Why your company needs technology business reviews
Businesses across all industries need to invest in technology to remain competitive. But because not all technologies deliver on their promised benefits, it’s vital for business leaders and/or their IT partners to make sure that their technology investments are worth keeping. Here’s how technology business reviews can help in that regard.
A technology business review reveals the strengths and weaknesses of your company’s IT framework. It’s often performed by a third-party IT consultant who will give an objective assessment of your technology and provide recommendations to help you meet your goals. If done properly, technology business reviews allow you to:
Every review starts with a cost-benefit analysis to determine whether an implemented solution is worth the continued investment. If there are technologies costing you a fortune in management and maintenance fees, consultants will advise you to cut them from your budget. They will also recommend cost-effective alternatives so you can do more with less.
System-wide reviews of your IT infrastructure show you what processes are hindering business operations. This allows you to formulate solutions to increase productivity. For example, if employees are mainly sharing files via email, consultants might suggest cloud collaboration platforms, like Microsoft 365 or Google Workspace, which store data in a centralized location for seamless file sharing.
Enhance security and compliance
Technology business reviews can also uncover security risks within your business. Consultants look for missed patches, poorly configured networks, and other software vulnerabilities that can be easily exploited by cybercriminals.
They’ll then compile their findings to create a more robust cybersecurity strategy, usually one that involves implementing advanced solutions like intrusion prevention systems, file access restrictions, and patch management software.
If you operate a business that’s subjected to data regulations like the Health Insurance Portability and Accountability Act (HIPAA) or Payment Card Industry Data Security Standard (PCI DSS), consultants will also pinpoint noncompliant IT practices and solutions and then customize a strategy that ensures the privacy, integrity, and availability of your data.
Implement appropriate technologies
Considering that new technologies are released at a breakneck pace, it’s important to pick those that will help you achieve your business goals. Technology business reviews keep you up to date on the latest technology trends and gauge the impact of implementing them so that you can make informed decisions.
Whether your goal is to increase profits, productivity, security, or all of the above, technology business reviews can put you on the right track. Our seasoned IT consultants can conduct these reviews for you and develop a strategy that gives you an edge over the competition. Just give us a call.