Startups & IT Roadmaps
Building a new business, particularly from the ground-up, is an extraordinarily complex undertaking. Many factors vie for management attention including securing funding, developing proof-of-concepts, business development, and regulatory / compliance issues to name only a few. Unfortunately, during this busy time developing an Information Technology Strategy is often overlooked.
As a matter of necessity, companies will address their immediate needs for computers, e-mail, networks, phones, and end-user support. The problem arises when companies stop there and not look at the broader strategic issues surrounding IT. The Information Technology strategy, sometimes referred to as the technology strategy or IT Roadmap, is a comprehensive plan outlining how technology will aid in the achievement of the company goals. This is accomplished by defining the systems which will enable the company’s core capabilities. At a high-level, these are systems like CRM systems, ERP systems, Data Analytics systems, etc. Its strategic goals should mirror the business and take into account the needs of key stakeholders including employees, customers and business partners. It is a living plan that requires updating on an ongoing basis. The process begins by understanding the company’s operating model along with its core capabilities. It is these core capabilities that will drive what systems are need. Next, the systems which will be need to be acquired or developed is defined. Other important elements can include cost management, sourcing, hardware and software management, vendor management risk management, security, and compliance. The result should be a roadmap showing how technology will support and shape the company’s overall business strategy and provides insight into the required investments and timing. Failing to develop an Information Technology Strategy may lead to both short and long- term consequences. Some examples include:
- Failing to account for the amount and timing of required IT investments
- Missed milestones due to not factoring in IT lead times
- Excessive costs due to multiple (and often non-integrated) point solutions
- Duplicative costs as core systems have to be replaced due their inability to scale / meet evolving requirements
To help start-ups address these issues, Puffin Advisors provides the following services.
Our Services and Value Proposition
- Smart Launch – Ensure you begin with the right core systems, services, and processes to launch operations and grow the business
- Roadmapping – Understanding your unique business model and develop an IT “Roadmap” (strategic plan). Click on IT Roadmaps for more information on our approach
- Realization – Bringing the IT Roadmap to life by defining the programs, providers and vendors requires to make it a reality
- Journey Management – Ensure ongoing alignment of IT and business
- Prepare for successful IPO and/or value creation event
- Provide access to a highly experienced life sciences Chief Information Officer (CIO) in proportion to your specific needs
- Enable your organization to rapidly arrive at an operational level by the creation of a holistic startup environment tailored to your specific needs
- Drive the creation of a business IT capability (follow-on to a roadmap) plan to guide future investments, reduce rework, and proactively enable the enterprise
Puffin Advisors combines extensive business experience, Information Technology knowledge, and pragmatic thinking. We the experience to respond to the unexpected ensure your start-up is on the right track. Contact Puffin Advisors today and let us help your IT organization fly to the right target. Learn how we would approach your unique situation and make lasting and positive impacts. To learn about our other services, please click here.