Somehow, 2023 is already coming to an end. And with a new year just weeks away, tech leaders face the pressure of perfecting their IT strategy for 2024. While strategic planning is sometimes left to the last minute, it’s a critical business activity.
Developing your IT strategy for 2024 does take some time and effort – but it’s worth it. A clear and structured approach to technology is the best way to ensure that IT initiatives are implemented to drive you towards business goals. A well-defined IT strategy and roadmap also helps to keep IT costs from spiralling out of control.
But with the effort required, if everything technology-wise is working well, why make any changes at all? This blog offers some ideas for developing your 2024 IT strategy, and the risk of doing nothing.
Just Do Nothing?
When it comes to business IT, there are so many different areas to consider, it can be hard to know what to do. There is one easy option – you could just do nothing. But at what cost?
Doing Nothing About Old Systems
Running old or dated technologies can actually end up costing your business more money than it would if you were to upgrade or invest in new solutions. That’s because outdated IT and legacy systems require significantly more maintenance than modern solutions. This means businesses end up spending more time and money trying to keep systems afloat. Dated solutions also often negatively impact productivity, cause increased amounts of costly downtime, and leave your business more vulnerable to damaging cyberattacks.
If your business is running a plethora of old or legacy systems, it may be a good idea to assess what this is costing you both financially and in resources. If the cost quickly adds up, it may be something to consider when it comes to your IT strategy in 2024.
Doing Nothing to Stay Secure
Security breaches have drastic financial and reputational impact on organisations – and anyone can be a victim. Throughout 2023, cyberattacks continued to make headlines. Cyber criminals are always finding new ways to target businesses, using new tactics and emerging technologies such as AI. If you don’t continuously evolve your security strategy, security gaps will quickly form across your organisation’s IT landscape.
If security is a focal point for your IT strategy in 2024, you’re not alone. In a recent survey carried out by Gartner, 80% of CIOs expressed plans to increase spending on cyber security in 2024, making it the top technology area due to see increased investment. This highlights that the majority of businesses are more aware of the impact of cybercrime. Don’t forget – when thinking about cyber security, it’s important to address the three key pillars to best protect your business from threats.
Doing Nothing About Skill Gaps
You can give your employees the best tech in the world, but if they don’t know how to use it properly, your business will miss out on the full benefits. When staff lack the digital skills they need to do their best work, productivity takes a big hit. Upskilling and training your teams on new systems and processes can help improve business efficiency, employee performance and satisfaction.
There is also an ongoing shortage of tech talent. In one survey conducted by Forbes, 93% of businesses reported a skills gap in the UK job market. 42% of those asked believed rapid advancements in technology from AI to automation are a key cause of the problem, while 41% stated training opportunities are an issue.
If your business is facing issues surrounding skills shortages, it may be something you want to address in your 2024 IT strategy. An IT partner and MSP like 848 can help you address resource gaps, or provide training to improve your employee digital skills.
Doing Nothing to Address Change
The world we operate in is always shifting. Businesses that struggle to keep up with the current pace of change will often fall behind their competitors. While those that refuse to innovate or respond to change at all are likely to fail. As technology is fundamental in driving change, it’s important for organisations to continuously review and evolve their approach to IT. It isn’t as simple as adopting a new technology and being done with it. Digital transformation is an ongoing activity, as solutions and processes can quickly become outdated.
The Importance of Reflection When Creating Your 2024 IT Strategy
The end of the year is a time for businesses to reflect on what went well, what went wrong, and what needs improving. A core area of this reflection should consider your IT strategy – did you achieve your IT vision for the year, or was your plan derailed? Did technology help drive your business forward, or has IT been more of a hindrance?
Evaluating the success of your approach to technology is vital if you want to improve your IT strategy for 2024. By conducting a thorough assessment, you can uncover insights and opportunities to improve your use of technology.
It’s also important to figure out what it is your business wants to achieve, and how technology will help you get there. Do you want to reduce costs, increase sales, or improve business efficiency? Are legacy systems holding your team back, or are outdated processes slowing down productivity? Only with clear goals can you develop an effective IT strategy for 2024.
Your IT Strategy in 2024
Experts predict user experience, security, AI and automation will continue to be pivotal elements of any IT strategy in 2024. The 848 Group is an experienced IT partner with a diverse team of IT experts who can help you secure your business, streamline processes and more. If you need support in designing, developing, or implementing your IT strategy for 2024, please get in touch with a member of our team. We can help you prioritise your requirements and address any challenges you face when it comes to technology.