Why internalising IT isn't always the best strategy | Spencer Knightsbridge, Head of Delivery
Personnel in organisations are frequently stretched thin with multiple duties to perform. So, IT personnel often find themselves wearing many hats in their day-to-day functions.
While these flexible and numerous IT roles allow your organisation to function internally with fewer costs, a swamped internal IT team can’t consistently deliver the technology solutions needed for your growth-oriented vision. Therefore, organisations must leverage technology partners to overcome the bottleneck of an overloaded IT department and create sustained success, without the costs of maintaining solutions at the same time.
If you’re looking to scale and reach your company’s growth point, utilising external technology expertise is a must. While your in-house team may be running on empty and unable to keep up with every demand, there are additional implications to consider. Technology providers naturally have experience with issues you may be facing or goals you are looking to achieve and have likely solved them time and time again across several different industries and use cases. Leveraging such depth in expertise allows your organisation to learn quickly, avoiding failures and jump-starting growth.
To provide further evidence to the case of ‘what we’re calling the piece’, here are three reasons why an internal IT department in your organisation can’t drive long-term business growth on its own:
Foggy long-term vision
While every IT professional loves to look to the future, an overwhelmed IT specialist doesn't have the time for long-range planning. However, if he or she is putting out technology fires for your business daily, then time for professional best practices – such as documentation, high-level organization and long-term development – are some of the first items to go.
No time to learn
The world of information technology is constantly changing, so any IT professional should dedicate a regular amount of time to staying current on every applicable technology area for your SMB. However, suppose an individual IT specialist must also be responsible for day-to-day user support and IT operations. In that case, they don't have time to consistently keep up with technological changes, which will ultimately have a negative effect in the long term.
Insufficient technical support... and innovation!
Alone IT professional working in an SMB may often have few checks and balances on their work. Because there might not be a colleague available with sufficient technical knowledge or complementary skills, a developer that works alone has no accountability to guard against human error. Additionally, there may not be sufficient resources available to innovate from a technical point of view on top of day-to-day responsibilities.
It’s important to note that internal IT teams can be crucial to delivering on business priorities on a day-to-day basis. However, when it comes to long-term business growth the array of choices can be dizzying, to say the least. Innovation in the space has led to products with exposure to different sectors, asset classes, regions, and themes. The development of ESG portfolios also allows more investors to allocate capital according to their values and desired impact on society, creating a new dimension for people to calibrate their investment decision-making.
If any of these reasons ring true for your internal IT department, it is time to consider partnering with an experienced technology provider. Because technology consulting is outsourced, you avoid the cost of hiring an IT team. You also counteract the three key problems outlined above in the following ways:
- The fresh perspectives of technology consultants build on your long-term vision.
- Your own IT team has more time to stay current on technology trends.
- Outsourcing technology build and support creates accountability for your internal IT team, providing an important reference point and partnership.
- Technology companies provide unique specialisations and skill sets, allowing your in-house IT team to work more efficiently on their own specialisations.
- Technology providers have likely worked with many other clients in your industry and can help you tackle similar industry-specific challenges.
Don’t let technology concerns overwhelm your in-house team. Instead, choose to partner with an experienced technology provider to consult and deliver on your strategic priorities for achieving your company's growth ambitions.
You must strategise for your future – not just wait for technology-related fires to flare up. Talk to a NovaFori expert today to discuss your company’s long-term growth strategy.
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