Breakfast Bytes with Felicia King for Saturday, November 2.
Why You Need a CTO: Avoiding Costly Mistakes in Document Management
In this riveting episode of Breakfast Bytes, host Felicia King delves into the often overlooked but crucial aspect of business technology: document management platforms. With a sharp focus on how organizations of all sizes can benefit from these systems, Felicia underscores the importance of operational maturity and strategic decision-making.
Through compelling narratives and real-world examples, she illustrates the perils of inadequate technology leadership. From misguided IT directors to costly missteps, Felicia shares stories from her 30-year career, shedding light on the vital role a Chief Technology Officer (CTO) plays in safeguarding a company's resources and ensuring seamless technology integration.
Listeners are invited to explore the intricacies of technology planning, from policy formulation to platform selection, and the far-reaching consequences of neglecting expert guidance. This episode is a must-listen for business leaders eager to avoid lighting money on fire and to achieve sustainable growth through informed technology investments.
Quick recap
Felicia King discussed the importance of document management platforms and the need for a technology executive in organizations of all sizes. She emphasized the significance of strategic architecture choices, operational maturity, and inclusive decision-making in implementing these platforms. Felicia also highlighted the challenges of managing contracts with consulting firms and stressed the importance of having a clear engineering and implementation plan before purchasing any technology.
Next steps
• Business leaders to consult with a qualified CTO before making strategic technology decisions, especially for document management platforms.
• Organizations to develop written requirements, document business processes, and create an engineering/implementation plan before purchasing new technology systems.
• Companies to review and potentially modify contracts with technology vendors to ensure compliance with organizational policies and support protocols.
Summary
Document Management and Operational Maturity
In the meeting, Felicia King discussed the importance of document management platforms for organizations with more than one employee. She emphasized the need for operational maturity and the use of systems to scale a business. Felicia also highlighted the necessity of a technology executive, even for small organizations, to navigate complex issues. She stressed the importance of understanding these matters, as they are too complicated to be handled by IT support alone.
Importance of Technology Executives in Orgs
Felicia discussed the importance of having a technology executive in organizations, emphasizing that an IT director often lacks the necessary skills and capabilities. She shared a past example where an IT director made a costly mistake due to lack of oversight, leading to significant financial losses and compliance issues. Felicia advised business decision-makers to use their technology executive in an advisory capacity to avoid such problems, particularly when making large purchases or embarking on significant projects.
Avoiding Costly Technical System Mistakes
Felicia discussed a long-standing relationship with a client that migrated to a new system, resulting in numerous issues. She reviewed the service contracts and master services agreements, discovering that the client was sold a system that was technically impossible to achieve an effective outcome with. The system violated its own requirements, leading to constant issues and financial losses for the client. Felicia emphasized the importance of using a chief technology officer to avoid such costly mistakes.
Strategic Architecture Choices in Document Management
Felicia discussed the importance of strategic architecture choices in document management platforms, emphasizing the need for operational maturity, understanding of business processes, and inclusive decision-making. She highlighted the cost implications of using platforms like Atlassian, Sharepoint, and iManage, and the need for a written set of requirements for any project. Felicia also pointed out the challenges of outsourcing document management platform implementations and the need for a highly qualified CTO for consultation. She suggested that Microsoft 365, with its advanced premium licensing and purview, could be a viable alternative to other platforms.
Managing Contracts With Consulting Firms
Felicia discussed the challenges of managing contracts with consulting firms and the importance of having a CTO to navigate these complexities. She highlighted the need for clear communication and contractual agreements to ensure project success, as she has often encountered issues with support protocols and project kickoffs. Felicia emphasized the importance of having a CTO who understands business, legal, and economic aspects to ensure smooth project implementation, completion, and ongoing support.
Clear Engineering Plan for Tech Purchases
Felicia emphasized the importance of having a clear engineering and implementation plan before purchasing any technology, likening it to buying a server without understanding its capabilities. She stressed the need for a Chief Technology Officer (CTO) to review proposals and ensure they meet the business's requirements, as well as to avoid potential breaches of contract with other vendors. Felicia also highlighted the value of having a CTO with the right skills, rather than relying on IT personnel, to make informed decisions.