2023: The Year of Strategic Business Technology Planning

2023: The Year of Strategic Business Technology Planning

How much time did you spend planning your IT needs in 2023? If you aren’t sure what this is all about, you must dive deeper into information technology planning. While 2023 can bring many new technologies into the picture, it’s also likely to introduce several challenges.

Creating a comprehensive IT strategic plan can help you prepare for what 2023 may bring while cutting costs, optimizing business operations, and outrunning the competition.

Information technology planning is an integral part of your company’s success. It allows you to implement the newest IT strategies and help your employees focus on revenue-generating tasks.

Let’s look closely at developing a flourishing IT strategic plan in 2023.

What Is an IT Strategic Plan?  

An IT strategic plan is a map of your IT needs and requirements. Information technology planning focuses on tactics that help you implement a successful IT strategy. Many companies create long-term IT roadmaps that forecast IT needs for several years.

Since the world has been changing too fast in the past couple of years, long-term plans are out of the picture. Today, companies focus on short-term plans that streamline IT strategies and avoid downtime here and now.

Companies that implement information technology planning can:

• Respond to changes quickly
• Design successful IT strategies
• Reduce operational costs
• Improve communications
• Understand the market better
• Take advantage of digital innovations

While it may be impossible to know exactly what to expect with IT technologies, availability, and accessibility in the next 12 months, studying trends and preparing an advance can be highly useful for operations in any industry.

What to Expect From 2023

It’s not a secret that the economies of many countries are currently experiencing a recession. In 2023, the trend is likely to remain.

Some parts of the world are still feeling the reverberations of the COVID-19 era. Others are struggling with war-related issues. Since all economies are interconnected, it’s imperative to consider these problems.

Logistics Issues

Logistics problems are plaguing the entire world, including North America. Some of the issues to expect in 2023 include the following:

Trucker Shortage

High work stress and low pay lead to a significant trucker shortage. In Canada, the vacancy rate in the trucking industry is around 8%, the second vacancy rate in the country’s economy.

Higher Transportation Costs

The combination of the Russian-Ukrainian war, Brexit, rising fuel prices, and labor shortage significantly increased transportation costs.

The entire logistics industry is feeling the toll. Since fuel prices are likely to remain volatile throughout the year, transportation costs are unlikely to decrease.

Cybersecurity Issues

The issue of cybersecurity is becoming more and more important for businesses around the world. It’s no longer possible to implement an IT strategy without considering high-quality cybersecurity measures.

At least 20% of Canadian businesses are suffering from cybersecurity attacks. The number and intensity of these threats are constantly rising. Companies must spend more money on cybersecurity plans, software, monitoring, and other related products and services.

How to Design an Effective 2023 Information Technology Plan

To design an effective IT plan in 2023, you must take several necessary steps while keeping logistics and cybersecurity issues in mind.

Perform an Assessment

The first step is to assess your company’s IT needs and requirements. You may need to:

• Speak with department heads (not just IT)
• Evaluate last year’s IT expenses
• Review workflow procedures to understand employee requirements
• Evaluate your customers (if any) IT needs related to your offers.
• Identify the budget and its limitations

The key to this type of assessment is reviewing your IT strategy. It can give you valuable insight into what you need to buy, eliminate, or change in the IT environment.

Evaluate Technology and Services

Next, use this information to list the technology you need for implementing a successful IT strategy. This doesn’t just include buying equipment. It can involve tool upgrades, custom software development, website development, and more.

The logistic disruptions will likely hurt equipment vendors and make it harder to find laptops, printers, and networking gear. Having a transparent plan for IT upgrades and equipment purchases can lessen the effect of supply chain issues.

You may also need to consider new IT-related services you could require this year. For example, you may want to hire a managed IT service provider or sign a contract with a cybersecurity team.

Review Cybersecurity Needs

When you consider the rising need for serious cybersecurity measures, you’ll notice that your company’s cybersecurity requirements change rapidly. It makes sense to reevaluate these needs every quarter to see opportunities for plan adjustments.

When designing your IT strategic plan, allocate a sufficient budget for cybersecurity needs. Besides equipment and software, you may want to consider investing in employee training.

Create a Policy

If you don’t already have a policy that tells employees when and how to request new hardware and software, you should create one now. If you already have a policy, consider adjusting it with the possible logistics issues in mind.

Besides allocating a technology budget, consider smaller expenses, such as ink and cartridges for your printers. These seemingly insignificant things can have an impact on IT strategy implementation.

Information Technology Planning Is a Must-Do

Information technology planning is no longer a nice addition to your business operations. It directly affects your company’s bottom line by helping you avoid downtime and implement successful IT tactics.

Even the best IT strategy can fail without strategic IT planning. Losing an opportunity to steal market share due to logistics problems or poor budget planning is out of the question.

It’s not too late to design a comprehensive IT strategic plan for 2023. By evaluating possible challenges this year will bring, you are preventing serious expenses, downtime, and unpleasant surprises. Meanwhile, you are allowing your business to thrive in a volatile environment.