The CIO's and COO's Guide To Maximizing Technology ROI While Minimizing Risk Using Valerity's ROI Transformation Method
Learn How To Find Out If You Are Overspending On Your Technology Without Losing Control Of Your Tech And Security Risks.
Most companies don’t know if they are overspending or underspending on their technology, and in either case it’s costing you money. The reason it’s costing you money is because you are either spending money on things you don’t need, or the underspend on technology is costing you money on lost productivity and other inefficiencies. Again, either way it’s costing you.
As an executive in charge of your company’s technology, we know you are under increasing pressure to improve the technology that allows your company, your employees, and your clients to flourish, while simultaneously forced to manage costs. We also know that any risk in technology efficiency or information security falls on your shoulders. You are responsible for making sure you get the maximum ROI out of your technology and information security, while minimizing any risk associated with both.
Oh, and yeah, you have to make sure you manage the costs for all of this.
Most firms don’t have a solid understanding of whether or not they are overspending or underspending on their technology, which means they don’t have a true picture of their ROI.
And if you don’t have a clear picture of your ROI, you are most likely overspending.
Your challenge is to understand the ROI or your tech and reduce your risk. And that’s the problem you need to solve.
We developed the ROI Transformation Method to help companies maximize the ROI and minimize the risk of their technology and their information security. The goal here is to align your technology and information security with your firm’s business goals. That’s where the magic happens. And that is the purpose of our Method.
There are 5 phases to the ROI Transformation Method.
1. ROI Assessment
In this initial phase, we take a complete look at all of your firm’s technology and your information security to help you get a solid understanding of where you stand today.
This includes careful analysis of all or your software, any IoT devices, and any other hardware and your technology staff. We look at your entire infosec system, technology assets and systems, and help you gain a full understanding of your security controls.
We also look at firm’s business goals and how aligned your technology is with your business goals. [Note: this is something most consultants don’t do.] This is crucial for you to understand if and how your technology is working FOR your company. Assessing the alignment of your technology, security and business goals is critical to your success.
Our experience has shown that most firms have never done a complete assessment, and even fewer have done so with their firm’s business goals in mind.
After a deep dive into all of these areas, then we look to see where there may be issues, problems, needs, etc. And that takes us to the next step.
2. Roadmap Clarity
In this phase, we build you a roadmap that takes you from where you are to where your technology and business goals are aligned. This is the strategy portion of the process that allows us to fix any problems, get rid of any wasteful spending and enact any new tech or protocols needed to maximize your ROI and reduce your risk.
This strategic phase is critical to success, but it is where many consultants stop and leave you with a really nice-looking PowerPoint deck.
We ensure that your roadmap is aligned with your firm’s business goals and also that it’s aligned with the growth of your firm. If you aren’t planning for the future and your growth, you’ll find yourself quickly back wondering if/how your tech is or isn’t supporting you.
Again, this strategic phase makes it clear how you are going to get from where you are now to where you need to be.
This phase puts our Roadmap into action and makes all of those strategic decisions in the past two phases become reality.
This is often the phase where many companies fail, because they don’t see this entire process through to the end. They will execute part of the transformation, but not all of it. Or they execute a tech strategy without the other phases of the ROI Transformation Method and lose out on the ROI part of this process. And they wonder why they don’t see the expected results.
If you are going to commit to understanding and having control over your tech and business goals alignment, then you must see this through.
Another important part of the Transformation phase is ensuring proper training for your employees to ensure success. It’s important all of your employees understand everything you’ve done, why you’ve done it, where you are headed, and that they are properly trained on any new systems they will use.
4. Specialized Feedback
The 4th phase of the ROI Transformation Method identifies the meaningful metrics that make sense for your company. We want to monitor the things that impact your business goals, and make sure you have a way to monitor everything to keep it on track.
This phase is like having the dashboard and GPS in your car. At all times you know it’s monitoring the critical elements that keep you safe and on track.
5. Progress Loop
The key to making this all work is understanding this process is not a one-time thing. Our business, security threats, business markets, clients, partners, etc. all change on almost a daily basis. If you complete this process and think you are done, in three months you’ll be looking at the tech and security controls you have in place and wondering again if it’s right or still relevant…and again, if you are overspending.
The Progress Loop phase ensures that does not happen. Getting maximum ROI from your technology is an ongoing process. As things change, your strategy and roadmap will have to change with it. Therefore, you must have routine and regular checkups on your progress.
The Progress Loop sets up those checkpoints and ensures that you complete those checkups. It’s the only way to ensure that you know exactly where you are and where you are going on an ongoing basis. While you will be monitoring your metrics on a daily/weekly basis, you need to step back at least quarterly to make sure you are still on track.
If you look at the ROI Transformation Method graphic above, you’ll notice that there is an arrow that goes from Progress Loop back to ROI Assessment. The idea is that this process is ongoing and regular.
Once the initial work is done, the subsequent iterations of your assessments won’t take nearly as long, because you understand your current technology ecosystem and then just need to make sure it’s still on track given new security risks and the challenges that will come as your firm grows. And the ROI Assessment phase will be made much more efficient due to the meaningful metrics already established in the Specialized Feedback phase.
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