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Factors to Consider When Creating an IT Strategy

Devise a plan before launching an IT overhaul.

As many CFOs and corporate executives know, technology is becoming integral to almost every business process, from email to tracking stock prices. Because of this trend, many are choosing to invest more heavily in their information technology infrastructure. However, before spending large sums

As many CFOs and corporate executives know, technology is becoming integral to almost every business process, from email to tracking stock prices. Because of this trend, many are choosing to invest more heavily in their information technology infrastructure. However, before spending large sums of money on updating computers and software, the company should devise a strategy for the project.

Executive Brief explains there are several questions to ask as a corporation takes on an IT strategy, including whether there are aspects of the plan that cater specifically to the company's needs and market.

It's also important to keep open the lines of communication throughout the process, explaining the steps not only to the decision makers at the top, but also the people further down the chain who will actually be using the IT additions. Be sure that the strategy is catering to current needs in the market, not just fulfilling the status quo. Ask the end users what functions would improve their workflows and also make sure that the new plan will actually represent an improvement over the current system.

Capital One Financial Corporation is an example of a company that has overhauled its technology infrastructure to deliver support for its clients and employees, Bank Systems & Technology reports.

To learn more about leveraging technology to evolve the strategic role of Finance, Accounting and Treasury, register early for Proformative's upcoming technology conference, ProformaTech 2013.