Things have been tough for most companies over the last year, often stunting opportunities for midsize company growth. With interest rates rising, acquiring and retaining customers and generating orders has been hard for smaller businesses. However, there are signs on improvement. With it unlikely that the UK will be going into recession in 2023, there is hope for growth in a number of sectors. However, there is work to be done for SMEs. Midsize company growth is reliant on preparation, and in this article we will aim to get you ready for the good times to come.
Prepare for Midsize Company Growth with IT Improvements
Midsize companies face unique challenges as they strive for growth, the main one being the structure of their IT departments. To ensure smooth scalability and support expansion, here are six important steps you can take with your IT infrastructure:
1. Evaluate and Optimise Existing Infrastructure
Conduct a thorough assessment of your current IT infrastructure. This evaluation involves reviewing hardware, software, networking, and storage systems. By identifying any bottlenecks or inefficiencies, you can make informed decisions on where to invest in upgrades or reconfigurations. Optimising existing infrastructure improves performance, scalability, and lay a solid foundation for future growth and can even reduce costs.
2. Avoid Duplication of Solutions
As products become more sophisticated and feature-rich, it is worth reviewing what services each product offers within its core and the associated cost. If you are a Microsoft 365 customer, evaluate the licence you have and what comes bundled in the product. You may find that a product bundled in the licence you have meets the needs currently available through another cloud service. Do you really need both?
3. Adopt Scalable Solutions
Scalability is crucial for accommodating midsize company growth. You should consider adopting scalable IT solutions that can easily expand as your business grows. Cloud-based services, such as Infrastructure-as-a-Service (IaaS) or Software-as-a-Service (SaaS), offer flexibility and the ability to scale up or down based on demand. Leveraging the cloud allows you to avoid significant upfront infrastructure investment and provides the agility needed to adapt quickly to changing business requirements. It is also important to have a detailed budget that accurately reflects the licence costs as you scale.
4. Enhance Cybersecurity Measures
As your company grows, it becomes a more enticing target for cyberattacks. You need to prioritise cybersecurity to protect sensitive data and ensure business continuity. This involves implementing robust security measures, including firewalls, intrusion detection systems, antivirus software, and data encryption. Regular security audits and updates are crucial to identify and address vulnerabilities. Additionally, comprehensive employee training programs help raise awareness of security threats and promote a culture of cybersecurity within your organisation.
5. Streamline Business Processes With Automation
Automation is a powerful tool for improving efficiency and productivity. You should be looking to identify repetitive or time-consuming tasks that can be automated, such as data entry, reporting, or customer support. By implementing automation tools and workflows, you can reduce human errors, enhance accuracy, and free up resources for more strategic initiatives. Automation not only streamlines operations but also enables your employees to focus on value-added activities that drive midsize company growth.
6. Foster a Culture of Innovation and Adaptability
To prepare for growth you should also nurture a culture of innovation and adaptability within your IT team. Encouraging employees to explore new technologies such as AI, experiment with innovative solutions, and embrace continuous learning can foster creativity and drive technological advancements. Collaboration and knowledge sharing among team members are also vital for staying agile and responsive to changing business needs.
IT Excellence to Power Midsize Company Growth
By evaluating and optimising infrastructure, adopting scalable solutions, enhancing cybersecurity measures, streamlining processes with automation, and fostering a culture of innovation and adaptability, you can position yourself for successful midsize company growth.
The Leadership Services has experienced CIOs and CTOs, with detailed knowledge of many different industries who can help provide your IT team with the leadership it needs to help prepare your organisation for growth.
Why not contact us now for a free discussion on how your company can prepare for growth?