Technology disrupts business and presents significant challenges for CEOs, who must find ways for their company to adapt quickly to maintain or grow market share. By looking to strategic technology partnerships, businesses can turn disruption into an opportunity for transformation.
Fifty-three percent of CEOs surveyed by PricewaterhouseCoopers expect technology to change the nature of how they compete in the next five years. These companies need to find a way to keep up or even surge ahead as technology transforms their business environment at an untiring pace.
More and more, such companies are looking to third-party partners to help: 48 percent of CEOs surveyed by Frost & Sullivan identify strategic partnerships as their top technology strategy. Yet, due to the rapid pace of change in the field, 54 percent of survey respondents also believe they don't have the ability to implement such a strategy.
It's almost impossible for a company to adapt to all the changes in the market or have enough resources to devote to every innovative digital strategy on the horizon. What can CEOs do to grow their company, best the competition, and meet or exceed customer demands, using their available resources in the best way possible? A relationship with the right strategic technology partner is a great start.
Benefits of a Strategic Technology Partner
Working with a third-party partner benefits companies for several reasons. Strategic technology partners have:
- Expertise: Strategic partners are experienced with different industries and technology solutions. Their job is to stay current as new technologies are developed and know which platforms and applications will bring the best value for their enterprise partners.
- Relationships: Technology partners have relationships with resellers, industry organizations and enterprises across industries. This enables them to deploy and service whatever technologies their partners need. Plus, they have buying power that benefits the enterprise partner with lower prices or the availability of products or services from manufacturers that do not work directly with end users.
- Infrastructure: Technology partners can provide resources at whatever scale is needed by the client enterprise, including sales teams, service teams and technicians in the field.
Choosing a Strategic Technology Partner
To find the right third-party partner to develop and maintain your technology infrastructure, consider questions like these:
- Does the partner offer the services and types of technology our company needs?
- Does the partner serve businesses where our company is located, such as throughout the United States or globally?
- Can the partner help me with any solution in my portfolio, such as client solutions, back-end infrastructure, software or hardware?
- Can the partner provide all of this at a competitive price that enables us to use our financial resources effectively and efficiently?
Strategic technology partners promote client success by helping companies deal with technology changes and increase agility. With their expertise and economies of scale, these partners reduce the number of vendors the company has to deal with, deliver integrated solutions that enable the business to stay current and provide the insight to spur true innovation and growth.
All of which can mean turning the rapid changes on the technology front into an advantage for your business.