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Home Management Leadership

Use a future-fit tech strategy to succeed

Ted Schadler by Ted Schadler
April 13, 2023
Photo by Ali Pazani from Pexels: https://www.pexels.com/photo/photo-of-woman-wearing-turtleneck-top-2777898/

Photo by Ali Pazani from Pexels: https://www.pexels.com/photo/photo-of-woman-wearing-turtleneck-top-2777898/

You may have more scrutiny on spend and hire, but you must still grow amidst the turmoil of disrupting supply chains, persistent war, and geopolitical and climate instability.

As you follow through on your 2023 plans and adapt to changes caused by constraints and rebounds, be sure to reinforce and scale the capabilities embedded in a future-fit technology strategy. Customer-obsessed companies that deploy a future fit tech strategy outperform their competitors two to one, so it works in good times and in bad.

Ted Schadler

"To succeed in tough times, take action in your platforms, practices, and partnerships, plus a fourth ‘P,’ for “people” — which cuts across the other three. Done right, this approach will help you succeed in 2023 while positioning you for the coming rebound."

Ted Schadler

Adopt a pragmatic and future-ready platform strategy. Modern software platforms lend modularity, composability, interconnectedness, extensibility, transparent standards, and trust to your tech stack.

Recessionary times offer opportunities to hit the reset button on traditional, constrained forms of thinking and accelerate the move toward connected, interoperable, and loosely coupled tech stacks.

Look at options to rationalise, leverage automation, and engage the business to optimise your platform strategy.

Drive technology efficiency and effectiveness with adaptive practices. It doesn’t cost anything to work smarter. In this constrained year, find and elevate the practices that can drive greater efficiency and effectiveness.

For example, teams that came together to solve specific problems — agile software development, value stream management, complex transformations, and so on — hold the seeds of success to scale your ability to adapt to new realities and rapidly assemble new solutions.

In a constrained 2023, you’ll have to balance near-term pragmatism with longer-term investments in flexibility to prepare for the coming upward swing of the pendulum. And most importantly, you have to prioritise customer and employee projects.

Improve outcomes and reduce waste with co-innovation partnerships. According to Forrester’s Business And Technology Services Survey, 2022, on average, North American and European senior services decision-makers at enterprises estimated that 31% of their technology budgets would be dedicated to third-party service providers in 2022.

That makes partnerships an essential and costly ingredient in your future fit technology strategy. Rationalise your vendor portfolio and focus on higher expectations and improved contracts to maximise the return on those costs and advance your ability to extract the most value from service providers in 2023.

"Take care of your people to unleash creativity, adaptivity, and resilience. During tough or constrained times, it can be tempting to cut costs by reducing headcount, but that approach will impact your ability to be adaptive in the long term as organisational knowledge is lost and productivity dips. Instead, focus on ways to make your talent more valuable using strategies such as upskilling, a new technology that augments humans, and a more adaptive approach to boom/bust cycles."

Be conservative in acquiring new talent. As the market changes and becomes more hospitable to growth, avoid the temptation to ramp up hiring too quickly. It is better to have organisational stability for your employees than keep having boom and bust cycles. Instead, take advantage of freelance talent marketplaces to address short-term or immediate high-skill talent gaps.

First published on Forrester Blog

Related:  Forrester’s emerging trends predictions to watch in 2021 and after
Tags: automationForresterplatforms
Ted Schadler

Ted Schadler

At Forrester, Ted Schadler is Vice President and Principal Analyst serving digital business professionals. He has 33 years of experience in the technology industry, analysing the effects of disruptive technologies on experiences and on business strategy and architecture. His research agenda focuses on digital transformation, experience-led transformation, commerce and digital experience service providers, and the future of services. Schadler is the co-author of The Mobile Mind Shift: Engineer Your Business to Win in the Mobile Moment (Groundswell Press, June 2014). Companies have a choice: to be present in a customer's hand — or lose the mobile moment to a competitor or other distraction. This book gives companies the guidance and tools to serve customers in their immediate context and moments of need: Continuously identify mobile moments, design mobile engagement, engineer solutions, and analyse to optimize outcomes. Now that it’s clear that most customers won’t download your app, it’s just as true for the mobile web — even more so for most brands. Schadler is also the co-author of Empowered: Unleash Your Employees, Energize Your Customers, and Transform Your Business (Harvard Business Review Press, September 2010). In this ground-breaking and still-current work, he analyses how important it is in the age of the customer for companies to empower employees with the tools and confidence to directly engage customers. Previous Work Experience Schadler’s work at Forrester spans 20 years, starting with the early days of the internet, open source, and web services. In 1999, he launched Forrester’s TechRankings™ product, now the Forrester Wave™. In 2003, he became a Forrester Bill Bluestein award winner; the award is granted annually to one of Forrester’s most influential analysts. In 2005, Schadler analysed the impact of technology on customers’ online and mobile behaviour. He ran Forrester’s data business during this period. In 2009, he launched Forrester's Workforce Technology Assessment, the industry's first benchmark survey of workforce technology adoption. Since 2014, he has focused on digital business and digital experience delivery. Prior to joining Forrester in April 1997, Schadler was a cofounder of Phios, an MIT spinoff. Before that, he worked for eight years as CTO and director of engineering for a software company serving the healthcare industry. Early in his career, after dropping out of MIT’s PhD physics program, he was a singer and bass player for Crash Davenport, a Maryland-based rock-and-roll band. Education Schadler has a master's degree in management from the MIT Sloan School of Management. He also holds an MS in computer science from the University of Maryland and a BA with honours in physics from Swarthmore College.

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