What Is Business Technology Management?

In today’s day and age, staying oblivious to technological development is impossible. Whether we like it or not, technology permeates more and more aspects of our lives. One area where this process is particularly evident is business.

Regardless of the sector your company operates in, you probably have already seen the power inventions hold in an ultra-competitive environment. This power can make or break entire organizations. New technologies allow you to reshape communication with your customers, make production processes more efficient, or help your employees complete their tasks.

Nevertheless — whether it is something as simple as a free faxing app or a fine-tuned management system — you have to learn what technologies to deploy and how to deploy them. This is what business technology management (BTM) is all about.

Below, we explain what business technology management is, outline its scope of influence, and answer why it is vital for modern-day businesses. Let’s get started.

Business Technology Management

BTM is the process of managing and organizing a company’s technology resources. It encompasses everything from procuring new technologies to integrating them into the company’s workflows to monitoring their performance.

Business technology management also includes tasks such as maintaining IT infrastructure, ensuring data security, and training employees on how to use new technologies. Essentially, it is about making sure that technology supports the company’s overall goals and strategies.

In a nutshell, BTM is all about making sure your company uses the right technologies in the right way.

Scope of Business Technology Management

The scope of BTM can be quite broad. It can encompass anything from the selection of office software to the management of complex IT systems. In general, though, BTM focuses on using technology to improve business efficiency, communication, and productivity.

This includes, among other things, technology:

• planning,
• implementation,
• monitoring of performance and efficiency,
• budgeting,
• forecasting.

Business Technology Management vs. IT Management

Although there are many similarities between business technology management and information technology management (ITM), there are also some key differences between these two concepts. Business technology management is broader in scope than ITM, as it covers not only information technology but also other forms of technology used by your organization, such as:

• Office technology. For example, office equipment (such as fax machines or printers), telephones, and so on.
• Enterprise resource planning (ERP) systems. ERP is a business software system that helps businesses manage their processes, from inventory and sales to manufacturing and production. It is one of the most commonly used enterprise software solutions worldwide.
• Workforce management systems. These systems help businesses manage and optimize their workforce by providing access to employee work schedules, hiring and firing, payroll, etc.

Business technology management is also more strategic than ITM. It focuses on creating a long-term plan for technology deployment and adoption in your business. On the other hand, ITM looks at the short-term. It is mostly concerned with the day-to-day operation of your network, servers, and other IT systems.

Why Is BTM Important for Businesses?

Businesses of all sizes can benefit from sound BTM practices. Here are a few reasons why it is so important:

Better Scalability

The tools you use have to match your business needs as well as your budget. If your company is growing, this is not always easy to achieve. Although there are many software packages available on the market today, it isn’t always easy to find one that has everything you need and is also affordable.

That’s why BTM is so important. It allows you to make the right choice when it comes to the tools and services you want to acquire for your business. You can choose only those tools that are really going to give you a competitive advantage or allow you to save money without losing performance.

Overall, it improves scalability, allowing you to take your business to the next level much faster.

Increased Efficiency and Productivity

The goal of any enterprise is to provide value to its customers while making a profit. The only way your business can accomplish this mission today is with the help of efficient and effective technologies. The more sophisticated they are, the better your company will be at managing all its internal processes, as well as its interactions with customers.

Technologies like cloud computing and mobile apps allow employees to work faster and more productively. They also help companies to operate more efficiently by automating tasks and reducing the need for manual input.

High-tech systems enable you to track time spent on particular tasks, collaborate on projects, and organize information about your product or service. As a result, you know what is expected from you by your customers, employees, and other stakeholders.

Improved Customer Interaction

Technology can also help businesses to communicate more effectively with customers and partners. Tools like social media and video conferencing enable two-way communication at a fraction of the cost of traditional methods.

By using the latest tools, businesses can communicate with customers in new and innovative ways, which, in turn, leads to increased customer satisfaction and loyalty.

Competitive Advantage

In a highly competitive environment, every company strives to be the best. Nonetheless, this is not always possible with the resources at hand. That’s where new technologies come into play.

Using the right technologies can give businesses a competitive advantage. By implementing technologies that their rivals are not using, companies can gain an edge over the competition.

For example, by using a cloud-based ERP system, you can reduce IT infrastructure costs, simplify your processes, and still provide the best service. It allows you to stand out from the crowd without sacrificing too much time and resources.

Conclusion

In this article, we have given you a broad overview of the role business technology management plays in a company. This role is crucial for staying on top of the competition and improving employee productivity.

As a business leader, you need to be able to put your finger on the pulse of technological change. New technologies can help you achieve your business goals and provide additional value to your customers. Furthermore, a well-managed technological landscape represents reduced risks and lowers the chance of costly mistakes.

Technology has become an integral part of our lives, so ignoring it is no longer an option for modern businesses. We hope that the article has been helpful and will aid you in understanding how to improve your technological solutions in the best way possible.