Is Your Small Business IT-Astute?

November 16, 2017 by OSYB Staff

Peter Weill, senior research scientist and chairman at MIT’s Sloan Center for Information Systems Research shared that, “IT-savvy firms have margins 20 percent higher than the industry average. Firms with less than average spending and savvy have margins 32 percent lower than their industry.”

Surely, you want your small business to be part of the former and have 20 percent higher margins than the industry average.  Accounting Today shares some tips for you to test how savvy your small business IT really is:

1. Is your team truly committed to IT?   Does everyone from top to bottom attend meetings, and do you all support the strategic use of IT?
2. Is your team integrated?  Is your IT Chief Information Officer considered a business leader?
3. Does internal politics embolden cooperative mechanisms?  Are your team members collaborative and able to share ideas and processes?
4. Are your users empowered to excel and able to perform their jobs with efficiency?   Are they using  a common platform?
5. Is your firm quick to acknowledge and fix errors?  Are you able to fix your processes adroitly, and to mainly avoid repeating mistakes?

To find how your firm can partner with vendors to help you become IT skilled, Read more:  Boomer’s Blueprint: How IT-savvy is your firm?