Here we are, already in the final quarter of 2023. Businesses all over the world are gearing up to plan and budget for the coming year, and many could use some guidance in today’s dynamic and fast-paced atmosphere. A crucial element of this process is aligning financial budgets with the goals and objectives of the organization. On a recent episode of the Digitally Transformed podcast, Jeff Wilhelm, Founder & CEO, and Brian Smith, Senior Strategic Advisor at Infused Innovations, sat down with host Justin Starbird to discuss the way in which strategic planning with Infused Innovations can support companies during this critical phase, helping them navigate the evolving arenas of business, technology, and innovation as they move toward the new year.
Looking Ahead Strategically
Our advisors listen carefully to the unique situation of each organization that we work with. What will be changing in the coming year in regard to the way the business is run? After Covid-19’s reshuffling of the workplace, many companies are now still questioning whether they should continue with remote practices, make their way more fully back into the office, or solidify their own hybrid work environment. We’ll help you figure out what makes the most sense for you, and assess other changes like potential expansions, mergers, acquisitions, downsizing, or entering new markets. And we’ll bring clarity to the conversation by using Key Performance Indicators (KPIs) that measure the effectiveness of budget allocations, helping you make strong decisions that align with your organizational goals.
Insights from the Whole Team
The best strategic planning happens when you include insights from the whole team, at every organizational level. That’s why we value not only the knowledge and ideas of the executive leadership, but also the experience of staff who are working at given tasks daily. What areas are holding them back or making them miserable, and what would improve their workflows and job satisfaction? Looking at the whole picture of an organization allows us, and the leaders we work with, to make innovative improvements that improve the bottom line and the company’s culture and wellbeing.
Strategic Data Management
Along with insights from various levels of organizational teams, there’s a wealth of data that companies can tap into to make the most informed decisions. Oftentimes organizations don’t know what to do with the data they amass, or how to filter it into useful information. We help clients gather and understand their various data points, creating value and insights they never recognized before. Paying attention to this treasury of information can make the difference between a business that’s operating rather blindly and one that’s really excelling through smart decision-making. Data is one of our specialties at Infused Innovations, and we can help you convert it into strategic and successful planning.
Agility in a Rapidly Changing Marketplace
In today’s business and technology world, planning for the next year often means planning first for the next quarter and being ready to pivot and adapt based on market changes that occur in those few months. It’s a very dynamic environment with technology rapidly evolving, so no one can say for sure what things will look like a full year ahead. Instead of trying to set plans in stone, flexibility is key—and moreover, being set up for agility ahead of time will give companies the advantage when those changes happen.
One of the ways to do this is to create a center of excellence, which is a team (or time and budget allocation) dedicated to prioritizing innovation and thinking ahead to possible developments within the company. With such a culture and structure set up, you will be ready to take steps once time makes it more clear which technologies or paths you want to pursue.
Another fundamental measure that continues to play a crucial role with each new year is security. Reducing security vulnerabilities and setting up the strongest safeguards helps you ensure that you’re ready for whatever comes in 2024. This is a proactive approach that prepares companies to navigate uncertainties while fostering growth and resilience.
Strategic Planning with Infused Innovations: Smart Innovation for a Thriving Business
With the new year on the horizon, businesses are peering into possibilities and opportunities, even as they face a lot of uncertainty about what it will look like. Infused Innovations can help you navigate the technologies that are changing work across industries. We’ll provide strategic advisory and technological solutions that align with your company’s objectives and keep you ahead of the curve.
To hear more from Jeff and Brian, you can listen to our latest episode of the Digitally Transformed podcast, “A Strategic Approach to IT Budgeting in the Age of Innovation”. Also, be sure to return soon and check out the next podcast and blog in our 2024 Budget & Planning series, where you will discover the ways in which you can plan for the tremendous impact of AI as well as learn more about our advisory services, budgeting, and planning!