Technology Framework for Success-Slides-Technology Framework

Slides-Technology Framework

Pdf Summary

The document discusses the challenges faced by firms in adopting and implementing technology systems effectively. It emphasizes the importance of understanding the hidden costs associated with building a tech stack and provides a framework for the success of technology systems.<br /><br />The author argues that competition in the market allows firms to choose the best solutions for their specific needs and create unique client experiences through their tech selections. However, it can be overwhelming if the firm does not know what problems they are trying to solve.<br /><br />The document explores the concept of buying vs. building technology systems and describes the game plan and collaboration necessary for successful adoption. It also highlights the potential hidden costs of tech builds.<br /><br />A framework is introduced as a layered structure indicating what kind of programs should be built and how they should interrelate. The author emphasizes the importance of delivering results and discusses the response of advisors when tech systems fail.<br /><br />The document suggests that firms often want to build new tech systems without considering the maintenance and improvement of existing systems. The necessity of balancing tech needs and maintaining and improving existing systems is emphasized.<br /><br />The author discusses the technological debt and operational debt associated with technology systems and presents a hierarchy of needs for technology. This hierarchy categorizes systems based on their criticality to a business.<br /><br />The document concludes with five tech strategy tips, which include planning for support time, developing a feedback mechanism, staying focused, putting up guardrails, and choosing to make systems better.<br /><br />The author ends the document by extending gratitude and providing contact information for further questions.

Keywords

challenges faced by firms

hidden costs

technology systems

buying vs. building

game plan

hidden costs of tech builds

maintenance and improvement

technological debt

hierarchy of needs

tech strategy tips