The Value of Assessing Your IT Operations
Over the last three years the way we live, and work has been upended in unprecedented ways. Many businesses had to quickly adapt to the new remote work paradigm, and technology played a critical role in making that possible. However, the rush to implement new IT systems and processes left some organizations with hidden vulnerabilities and inefficiencies that can only be uncovered through an IT operations assessment.
An IT operations assessment is a comprehensive evaluation of an organization’s IT strategy, organization, infrastructure, and applications, governance, policies & procedures, vendors, and contracts. It can help organizations identify weaknesses in their technology stack and make better data-driven decisions to improve their overall IT operations. Given the critical role that technology plays in today’s business world, it is essential to periodically assess IT operations to ensure they are optimized for the current and future needs of the business.
Organizations that fail to assess their IT operations have suffered in significant negative impacts on their bottom line, customer experience, and overall efficiency. For example, during the pandemic when millions lost their jobs there was an increased demand for unemployment benefits. However, some states’ outdated benefits systems could not handle the unprecedented number of applications, leading to exponential wait times, website crashes, and delayed payments. Similarly, a large airline suffered a massive IT outage, causing over 2,000 flight cancellations and delaying over 300,000 passengers, leading to $150 million in financial losses and damaging its reputation.
To avoid such catastrophes, Chief Technology Officers (CTOs) and Chief Financial Officers (CFOs) should ask themselves critical questions when deciding how frequently to assess their IT operations. These questions should include:
- “Can our current infrastructure support the expected growth in data, users, and applications?”
- “Are there any single points of failure within our infrastructure, and how can we address them?”
They should consider the criticality of their IT systems and how they support the organization’s business objectives. If the IT systems are mission-critical and impact the bottom line directly, it is crucial to assess their performance regularly.
CTOs and CFOs should consider the security risks associated with their IT systems. Cyberattacks are becoming more sophisticated, and organizations need to ensure their IT systems are secure and can withstand a potential attack. Assessing IT operations can help identify security vulnerabilities and therefore implement measures to mitigate risks early on. As we advise organizations to evaluate their infrastructure and security posture, we equally emphasize the importance of CTOs and CFOs evaluating their IT strategy and capital spending to ensure that IT investments are aligned with organizational goals and deliver a positive return on investment. IT projects should align with operational and strategic objectives that drive innovation, growth, and competitive advantage.
For over 20 years, Marcum Technology has assessed IT operations for clients across multiple industries, and we understand the cost of doing nothing. Failure to evaluate IT operations can lead to catastrophic consequences that impact the bottom line and damage a company’s reputation. As a result, CTOs and CFOs should periodically assess their IT operations and ask themselves critical questions to identify areas of improvement and make data-driven decisions to optimize their IT systems. And know that we are here to help.