IT strategy is a challenge business entities should agree and document since it represents a long term framework for the technology solutions to be made available and in place to operate the business entities.
Who is responsible for planning to create IT Strategy?
It is the responsibility of the Board of Directors or the equivalent governing body to plan for creating the IT Strategy while the CEO is responsible for developing such strategy whether such development is undertaken internally or outsourced to a specialist consultant. CEO then presents the IT Strategy to Board of Director for approval and follows up the implementation thereof.
What are the common challenges in implementing IT Strategy?
The commons challenges when developing and implementing IT strategy includes the requirement that objectives should be subject to the SMART methodology to ensure their accuracy and clarity. In addition, there is another challenge relating to the availability of highly qualified and experienced human resources in the IT domain together with maintaining their updated knowledge since any deficiency in these resources may result in a catastrophic situation.
What are the methodologies adopted in developing IT Strategy?
IT gap analysis is conducted for the business entity, then the vision of board of directors and executive management is explored and the available financial resources are identified. All these aspects are analyzed and strategic objectives are developed in a balanced manner considering the current technology development and the vision of the board of directors and executive management and the available budget.
What is the added value of IT Strategy for business entities?
IT Strategy is a critical document to keep pace with global trends in IT. A business entity can only achieve this goal if it has a holistic vision to set up and develop information technology that is recognized and collectively implemented by all functions. Such IT Strategy realizes added value for business entities in terms of ensuring consistency with the surrounding business environment on one hand, and attaining a competitive advantage over the competitors on the other hand, and hence, maximizing shareholders’ value.
What are the services offered by Baker Tilly?
Development of IT Strategy.
Other related services
- Information Technology Governance
- Digital Transformation
- Big Data Management
- Cyber Security
- Vulnerability Assessment and Penetration Testing
- ISO/IEC 27001:2013 Information Security Management System
- ISO 22301:2012 Business Continuity Management System
- Disaster Recovery Plan (DRP)
- Technology Project Management
- Financial Technology (FinTech) Consulting