A technology roadmap is an integrated plan that charts out both the big picture on how to succeed with new technologies, as well as the technical side of things that need to be undertaken to achieve success. For example, a technology roadmap includes plans relating to technology forecasts, product development, system development and resource development.
Technology roadmapping is an essential part of any winning business plan. It gets you ahead of the game by giving you ultimate clarity on what technology to implement, where it adds value to your company, when to implement it and how to bring it into reality.
Driving new innovation with success
While people are obsessed with the latest tech, the successful implementation of any technological opportunities needs to be in sync with a myriad of considerations like the needs of customers, business prospects and implementation feasibility. It is not just about having the most advanced in tech. Think about the long lists of cutting-edge initiatives like ‘Google glass’ that never took off.
When technology roadmapping is done right, you will have a business plan that is continuously evolving with new technology used in the most impactful and relevant way. You will be able to deliver products and services that brings a smile to your customers and bridge your business to the next level.
A technology roadmap is beneficial in some of these ways:
- New and relevant product and service innovations to delight your customers
- Alignment of resources, capabilities and stakeholders to bring innovations alive
- Enhanced investor’s confidence through advanced technology foresight and expertise
Turning opportunities into reality
Every technology roadmap begins with explorative technology scouting and forecasting. Strong and weak signals regarding up and coming technology developments are collected, categorized and evaluated according to your context, customers’s profiles and business vision. Feasible, viable and desirable innovation are then charted and prioritized strategically into a timeline according to the insights gathered. At this juncture, it is important to establish a systematic framework to plan, coordinate the envisioned outcome, technology development and resource development progressively.
A clear understanding of your internal capabilities and the potential impact of its expansion to support your technology vision will also need to be factored in. Finally, with a comprehensive roadmap at hand, the final step will be to develop assessment cycles that will guide you to continuously sharpen, detail and futureproof the plan as you run it. Just as technology will continue to evolve at neck-breaking speed, a roadmap is never finalized. Curious about how to get started on a technology roadmap tailored to your organization? Get in touch!