Focus On The Tech That Generates Growth

A forward-looking tech strategy empowers businesses to swiftly adapt, infuse emotion and engagement into customer experiences, and consistently deliver on brand promises and visions.

According to Forrester’s 2023 findings, 43% of US enterprise technology decision-makers in digital or digital strategy roles actively engage in refining or reimagining their business models.

To showcase the tangible business value of technology in 2024, concentrate investments on intertwining customer, employee, and partner journeys to fuel growth. Here’s how:

Optimize the Customer Experience with Technology

Harness technology to enhance the customer experience, catering to evolving needs effectively. With 51% of US enterprise technology decision-makers in digital or digital strategy roles actively managing customer-facing websites or apps, investments should prioritize streamlining customer relationship systems, modernizing data analytics, and personalizing marketing efforts to deliver tailored experiences.

According to Forrester’s Priorities Survey for 2023, 88% of global business and technology professionals from future-fit enterprises anticipate increased investments in customer management techs like ERP, call center, and CRM over the next year, underscoring the importance of exceptional customer service and fostering long-term relationships.

Utilize AI to Empower Employees and Boost Productivity

Leverage AI to automate processes, expand operational capacity, and enhance productivity. In Forrester’s Budget Planning Survey for 2023, 71% of US enterprise technology decision-makers anticipated increased investments in operations technology over the next year.

To capitalize on this trend, focus on advancing software capabilities to streamline tasks, reduce manual dependencies, and encourage employee creativity.

Forrester’s 2023 data also indicates that 81% of global business and technology professionals from future-fit organizations expect increased investments in business automation and robotics, highlighting the significance of leveraging AI for efficiency and effectiveness.

Harness Partnerships as a Catalyst for Growth

Position technology as a catalyst for rapid response to market changes by fostering partnerships within and between value networks.

With 64% of US enterprise technology decision-makers in digital or digital strategy roles actively involved in evaluating, selecting, and managing vendors, investments should prioritize leveraging internal and external communities of practice for co-creation opportunities.

Forrester’s Future Fit Survey for 2023 underscores the importance of preparing organizations to drive co-innovation with partners, emphasizing the need to build end-to-end value streams across networks to accelerate value generation in the market.

Optimize Technology Investments by Aligning with Business Objectives

Align technology investments with growth objectives by scaling customer solutions and directing investment towards revenue-generating activities.

Forrester’s 2023 data highlights that US enterprise decision-makers with high alignment across marketing, CX, and digital functions report 2.4 times higher revenue growth than those with no alignment.

To demonstrate market impact, identify key differentiation points along customer journeys and product lifecycles where investments can yield maximum returns.

Experiment to Accelerate Growth Enablement and Creation

Foster innovation by evaluating emerging technologies, refreshing customer experiences, and focusing on the holistic value of the tech portfolio. Future-fit leaders, prioritizing innovation, report 1.6 times faster average annual revenue growth than those who do not.

Rising customer demands and evolving technology landscapes present tech leaders with an opportunity to lead innovation efforts by creatively leveraging emerging tech, staying at the forefront of market trends, and developing differentiated products and services.

The Table of Contents of “Planning Guide 2024: Technology Executives” :

• Reinvigorate Tech’s Role In Your Company’s Growth Engine
• Benchmark Your Budget For Growth
  • Application and software reinforce new products and services.
  • Infrastructure modernization is the foundation for future growth.
  • Management spend provides the human resources to innovate.
• Focus On The Tech That Generates Growth
  • Leverage technology to optimize the customer experience.
  • Use AI to enhance employee autonomy and expand capacity.
  • Activate partnerships to be a force multiplier.
• Optimize Tech Investment By Focusing On Opportunities With Strong Business Alignment
  • Set a one-to-many AI investment instead of a many-to-many strategy.
  • Increase cloud interoperability instead of adding additional cloud environments.
  • Draw down technical debt so you can reinvest in the future.
• Experiment To Accelerate How You Enable, Create, And Amplify Growth
  • Enable growth by expanding and extending market frontiers.
  • Create products and services that differentiate customer experience.
  • Emphasize AI to deliver long-term growth.

Number of Pages:

• 8 pages

Pricing: 

• Free