CONNstruction - Winter 2017 - 21

feature

Improve Operational Efficiency,
Mitigate Risk, and Foster Growth with a

DEFINED IT STRATEGY
By Rebecca W. Lyman, CPA, Manager, CohnReznick
In today's environment, virtually all daily
business processes involve technology in
some form. People are becoming increasingly dependent on technology for the
functionality of their lives and of their organizations. More than ever, it is understood that
in order to effectively serve employees, customers, and management, as well as create
competitive business advantage, it is imperative to leverage the latest technologies.
Technology continues to revolutionize the
way companies across industries improve
their sales and internal operations, as well
as manage their customer relationships.
The construction industry is no exception. Embracing change and technological
advancement has great potential to offer
competitive advantages for those contractors who choose to adopt early. However,
many construction companies are implementing new technologies without taking
a critical first step - developing a comprehensive IT strategy.

of a company's place in a technologically
driven world.

Developing Your IT Strategy
So, what exactly is an IT strategy? It is
usually a documented strategy that examines every piece of a company's IT, including
(but not limited to) the structure of the system, software being used, current staffing
or use of outside consultants, use of websites and social media, and a cost to benefit
analysis of the IT department's spending
and programs. An IT strategy takes these
pieces and incorporates them into a living

A well-defined IT strategy is a
potential resource for growth and
development. Building an IT strategy also
presents an opportune time to assess current use of IT consultants and determine
whether funds are being well spent. Overall,
an IT strategy will help management transform the business by incorporating ideas for
future growth and advancement, while also
addressing the inherent and complex risks

HILCH/SHUTTERSTOCK.COM

The Advantage of
an IT Strategy

document that assesses the risks of the
company and outlines a plan to not only
protect and mitigate those risks, but also
utilize technology to drive growth and profitability within your construction company.
An IT strategy should align with the company's corporate strategy and incorporate
each department's plans for growth. The
document could cover the company's
plan for the next year or for longer (three
to five years), although when aligning with
longer-term plans, it is imperative to update
them regularly. It is equally important to
address who will be implementing the strategy, as the plan's effectiveness can only be
realized if it is incorporated into the daily life
of the company. Members of the team need
to be accountable for their responsibility in
this area and for the overall development
of the plan. Most critically, an IT strategy
should answer these two questions: What
can IT add to the value of the company, and
how can it help the company grow to its
fullest potential?
An IT strategy should also address the
difference in controls and procedures for
the home office versus the field office,
and should include appropriate applications for field personnel.

Assessing Necessity and
Other Considerations
You may ask, "What is so significant about
an IT strategy? My company is doing just
fine now without one; no need to upset the
status quo."
CONNstruction / WINTER 2017 / 21



Table of Contents for the Digital Edition of CONNstruction - Winter 2017

Being Productive
The AGC of Connecticut Foundation: Serving the Industry’s Needs Through Charitable Giving
Productivity, Costs and the Future of Machine Control
Diving Into Unmanned Aerial Systems
Looking to the Future: How Technology will Disrupt and Improve the Construction Industry
Improve Operational Efficiency, Mitigate Risk, and Foster Growth with a Defined IT Strategy
2017 AGC/CT Industry Recognition Awards & Dinner
2017 CRBA Annual Fall Dinner Meeting
2017 Diggers Mixers Fixers: Jim Langlois Memorial Golf Outing
YCF Fall Membership Meeting
Index to Advertisers/Advertiser.com
CONNstruction - Winter 2017 - Intro
CONNstruction - Winter 2017 - cover1
CONNstruction - Winter 2017 - cover2
CONNstruction - Winter 2017 - 3
CONNstruction - Winter 2017 - 4
CONNstruction - Winter 2017 - 5
CONNstruction - Winter 2017 - 6
CONNstruction - Winter 2017 - Being Productive
CONNstruction - Winter 2017 - 8
CONNstruction - Winter 2017 - The AGC of Connecticut Foundation: Serving the Industry’s Needs Through Charitable Giving
CONNstruction - Winter 2017 - Productivity, Costs and the Future of Machine Control
CONNstruction - Winter 2017 - 11
CONNstruction - Winter 2017 - Diving Into Unmanned Aerial Systems
CONNstruction - Winter 2017 - 13
CONNstruction - Winter 2017 - 14
CONNstruction - Winter 2017 - 15
CONNstruction - Winter 2017 - Looking to the Future: How Technology will Disrupt and Improve the Construction Industry
CONNstruction - Winter 2017 - 17
CONNstruction - Winter 2017 - 18
CONNstruction - Winter 2017 - 19
CONNstruction - Winter 2017 - 20
CONNstruction - Winter 2017 - Improve Operational Efficiency, Mitigate Risk, and Foster Growth with a Defined IT Strategy
CONNstruction - Winter 2017 - 22
CONNstruction - Winter 2017 - 23
CONNstruction - Winter 2017 - 2017 AGC/CT Industry Recognition Awards & Dinner
CONNstruction - Winter 2017 - 2017 CRBA Annual Fall Dinner Meeting
CONNstruction - Winter 2017 - 26
CONNstruction - Winter 2017 - 2017 Diggers Mixers Fixers: Jim Langlois Memorial Golf Outing
CONNstruction - Winter 2017 - 28
CONNstruction - Winter 2017 - Index to Advertisers/Advertiser.com
CONNstruction - Winter 2017 - 30
CONNstruction - Winter 2017 - cover3
CONNstruction - Winter 2017 - cover4
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