Reviews of current processes and technology not only yield greater efficiencies but also, ultimately, enhanced revenue.

In today's environment, many companies find themselves having to accomplish more with less. To cope, some organizations are focusing on improving their processes and technology. This requires a change in mindset, especially among those in management who have a tendency to view technology as overhead and fail to see it as a strategic asset. Often, these folks need to be convinced of the value of such an exercise.

Yet, reviews of current processes and technology not only yield greater efficiencies but also, ultimately, enhanced revenue.

Getting Started
Some companies have accurate documentation about their networks and design, others have proper policies and procedures in place, but very few have a strategic technology plan that gives them complete control. Although emergency situations do occur, most projects can be planned ahead of time and controlled properly.

To gain control of technology expenditures, senior management must understand the long-term benefits of the organization's projects as they relate to technology. A proper technology plan can help management get up to speed with the firm's technology investments.

Before you compose a technology plan, inventory all of your technological assets. You cannot properly assess your future goals without knowing what you already have. This inventory should include physical assets as well as all of the software that was purchased or created by the company.

When taking inventory, it is especially important to take stock of the IT personnel's skill sets and credentials. Professional certifications and degrees in computer science are essential. Because the scope of technology is ever-expanding, it is unrealistic to expect one person to have all of the requisite knowledge demanded by the various technologies. The size of your IT staff should be commensurate with the overall size of your organization and the sophistication of your technology tools.

When you initially create the technology plan, define your problem areas as well as management's long- and short-term goals. Management leaders from each department should outline and prioritize their group's current issues and future goals. If managers have a hand in shaping technology for their respective departments, they might be more receptive to working with you to solve problems.

Management may need some guidance when it comes to technology. So it might be beneficial to develop a checklist with probing questions to identify key aspects of how a department conducts business. Once you complete this checklist, you can compile it into a needs assessment report. This report can form the basis of a discussion on how technology can help staff solve its current problems and achieve its future goals.

Design major projects along a three- to five-year timeline. Discuss non-technical topics during this meeting - ideas that aren't necessarily directly related to technology might have some technological tie-ins that need to be considered as part of an overall solution to a problem.

In a separate meeting, the technology team should create its own list that details some of the latest technologies from which your company can benefit. These technologies do not necessarily have to address a specific company concern (e.g., spam) to be useful.

Although you might read about a particular technology that has greatly enhanced another company's profit margin, you still will need to determine whether it is an appropriate fit for your organization.

Projects are not the only items that need to be added to your technology plan; training of your IT staff also needs to be included. Factoring in training allows you to budget sufficient resources for new employees and keeps your staff current on the latest technologies. Without yearly training, your technical team will not have many new ideas to bring to the table when it is time to discuss new projects, nor will it have the ability to execute these projects.

Of course, training of staff at all levels and disciplines is also important. It's the quickest way to increase your return on investment in both technology and people.

According to the Gartner Group, a company can save five hours for every hour of technology training it provides. It's a well-known fact that companies with robust training programs attract and retain the cream of crop.

Cost/Benefit
Next, perform a cost/benefit analysis for each project for senior management approval. You can incorporate the data collected from this analysis into your budget proposal. The budget needs to consist of cost, timeframe and staff hours per project. A project that, at first, may seem cost-effective may not be viable due to time or personnel constraints.

Remember, too, that projects have a tendency to run over budget and/or take longer than you initially anticipated. Managing expectations is a key factor in making sure that management is kept current on why a project is delayed or why it is incurring additional costs. The more planning that goes into a project, the less likely the project will miss its goal.

After the budget is approved by senior management, convert your budget proposal into a project plan by adding milestones and granular detail. Assign a project manager to oversee each project. You can use the project plan as a basis for creating periodic reports to keep management abreast of project progress.

Keep in mind that technology is changing more rapidly than ever. To keep pace, companies must invest more in improving their processes and training. According to recent studies, highly profitable companies will continue spending between 5 and 7 percent of their net revenues annually for technology and support.

You may think this cost is too high, but the cost of not keeping pace with technology is higher. Playing catch-up every few years will cost more than making annual, incremental updates.  F+I

Ken Fishkin is a director in Cohn Consulting Group, a division of J.H. Cohn. He can be reached at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 888-542-6461.