If the past year has taught us anything, it's that technology is ever-evolving. From the rapid spread of artificial intelligence (AI) to the increased usage of digital tools, there's no sign of things slowing down. This is just one of the reasons why business professionals in any industry must stay familiar with the advancements in technology that are happening faster than ever before.
As the CEO of a business, you don't need to know every minute detail of your company's network or technological operations, but you should have a solid understanding of its overall structure. At Premier IT, we partner with CEOs and their staff from diverse industries and companies of all sizes to help them identify gaps in their technology, cybersecurity, and more. In this article, we'll share why it's imperative for CEOs to be equipped with an understanding of technology.
Some areas of technology that CEOs should be familiar with include:
Although it might not be your responsibility to compile and analyze data, it's essential to have a basic understanding of what information is significant to your business, how to obtain it, and how to interpret it. Leveraging valuable analytics in your organization can help guide strategic business decisions.
Speaking of data, do you understand how and where your data is being stored? Is it on-premise, in the cloud, or a hybrid of both? Knowing where your data lives is crucial. It's not just a matter of security; your data storage system also affects your operational efficiency, your ability to scale as needed and business operating costs.
As a CEO or business leader, you should have a working knowledge of the technology and platforms your organization relies on, everything from ERP systems, CRM tools, supply chain and logistics management software, collaboration tools, HR and payroll platforms and project management solutions; you should understand the systems that keep your operation running smoothly. This also included having an awareness of new technology that your company is currently not utilizing that could enable improved efficiencies and innovation. It's also not a bad idea to know what technology your competitors may be using, as this can provide valuable insights into industry trends and help you identify opportunities to enhance your own operations.
Artificial intelligence (AI) has been making waves and is now being utilized in nearly every industry. Even if you have not yet adapted AI platforms within your organization, it's important to stay abreast of the trends and capabilities of this evolving technology. When it comes to AI, it's ideal to stay ahead of the curve, test out the new technology, and determine where it can and should not be used within your organization. In addition to AI, automation is another area you want to understand. Assess how automation is currently being used within your business and where lies the opportunity to implement automated systems that will improve your existing processes, enhance customer satisfaction or free up time and resources.
One of the main reasons CEOs and business leaders should be familiar with the technology utilized by their organization and new technology trends that are emerging is to keep their companies protected against the cyber threats that are increasingly occurring to businesses, both large and small.
Here are a few questions to ask yourself.
What are our cybersecurity policies?
How do we protect and safely back up our company data?
Are we informed and current on the latest regulatory compliance requirements for our industry?
As a CEO, being aware and confident in your company's virtual security is key to managing risks and preventing potential cyber-attacks that could threaten your organization's assets and reputation.
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As a business leader or CEO, you have countless responsibilities to attend to. Having a basic understanding of the above aspects within your business' technology is essential, but implementing and managing it all can be overwhelming, even if you have an in-house IT team. Working with a fractional IT company or managed service provider can help your organization thrive.
5 Benefits of Supplementing Your IT Team with an MSP
At Premier IT, we provide both fractional IT services as well as managed IT services and are committed to providing our clients with unsurpassed support for all of your technology needs. Whether it's security, hardware, software, or your network, our team has the experience to deliver reliable and efficient technology solutions tailored to your business's specific needs. Find out how our team of IT experts can help you and your organization.
Premier IT is a Minnesota based managed IT services provider with a dedicated IT support team that manages all your technology needs. We pay attention to the details so you can focus on what you do best. We provide technical consulting, hosted infrastructure, computer & network support, security, Microsoft support, repairs, network monitoring and more. If your small business needs reliable technical support, contact our team of experienced technicians and engineers.