CEOs and business leaders face a growing challenge of acquiring the right expertise in a timely, cost-effective manner. As their business grows their needs and challenges are frequently changing and expanding.  They need true, proven experts to identify the key opportunities, chart the right course of action, and ensure timely execution. 

But typically companies can't afford to hire full-time employees for every expertise needed.  Further more, they shouldn't... it's not cost-effective.  Once the challenge has been addressed, you no longer need that level of expertise, or the needs change, what are you going to do with that expensive full-time employee?    With extremely expensive health care costs, benefits and other rising costs, savvy business-leaders are tapping Expert-as-a-Service (EaaS) as the new alternative to hiring full-time employees for an area of expertise. 

It provides a top expert for a specific need in the most affordable, cost-effective manner.  EaaS does NOT provide a "Consultant".... "Consultants" are often just "theory people.  You need someone that has been there, done it, and has proven, successful results.  Xtrii's EaaS provides a proven CIO, CTO, and/or technology expert that has successfully performed the hands-on role for some of the most successful companies in the world.   

This approach is extremely effective for mid-cap, small-cap and rapid-growth companies.  It allows them to tap into a world-class expert that has helped some of the world's top companies achieve success, at a rate that is tailored to their specific needs and budget.   Now these companies can leverage the same caliber of expertise as their Fortune 100 competitors, and pay far less. 

A client recently engaged one of our highly-accomplished technology leaders to help them transform their technology organization. The Xtrii technology expert helped the organization quickly assess their gaps and most-pressing needs, set the optimal course of action, and is serving as their contracted CIO to fast-track the improvements. The client's CEO is thrilled with the timely improvements, and the client's CFO is happy that Xtrii's EaaS approach is saving them more than $100,000/year.  Better results, lower costs... that's what business leaders need today. 

Savvy business leaders invest in the best expertise, not in some other company's corporate overhead.  When traditional, mega-size consulting firms put their corporate name on buildings and shirts/hats of professional golfer's, and accumulate massive overhead costs, they have to pass those huge overhead costs onto their customers by charging huge fees.  In addition to their extreme rates, they also tend to send an "army of consultants" instead of the one true expert that you really need.  

So, look for boutique firms and focused experts that specialize in the area of your needs.  They provide the top experts at rates that are HALF of the price of the traditional, mega-sized consulting firms. 

Invest in the best resource and best value, not in the mega-firm's corporate overhead.       

With this approach, you get the familiarity of a seasoned, proven technology leader/expert that is focused on your business, but in a more effective, affordable, modern approach.  It's the secret sauce of savvy business leaders today, and is becoming the preferred way CEOs and business leaders acquire the top resources.  

Additional insight and resources can be found here. 
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​The competitive forces in healthcare continue to grow, and can be seen in the Austin market.  Historically, the Austin healthcare market was dominated by Seton and St. David’s.  Austin Regional Clinic (ARC), Austin Diagnostic Clinic and other local providers also have a notable presence.  But times are changing in the Austin healthcare market.  Baylor Scott & White has now moved into the Austin and Central Texas market and is rapidly growing their presence.  

​With now a third major player in the market and transformation occurring throughout the healthcare industry, change is certain.   When you study history and other industries, typically the top two in a market will thrive and the others continue to lose market share and struggle to survive.  So, let’s look at each of these organizations and how technology will play a role in reshaping the Austin healthcare market.

• St. David’s is owned by HCA, one of the largest healthcare systems in the U.S.
• Seton is owned by Ascension Health, one of the largest healthcare systems in the U.S.
• Baylor Scott & White is one of the largest healthcare systems in Texas and is typically very dominate in their markets.
• ARC and ADC continue to expand their footprint throughout the Austin area.  While they are not a full-service healthcare system like the others previously mentioned, their clinics play a noteworthy role in the local market.  These clinic organizations often have “affiliations” with a healthcare system.   But the healthcare systems are now opening competing clinics, and the clinics are expanding their locations and services offered, so they are competing for the same customer in many cases.

 
While many factors will influence the market, technology will play in pivotal role.  Let’s look at why technology and digital transformation will make such an impact. 

1. Customer’s/patient’s expectations:  Today’s customers are tech- savvy and expect the same of their service providers.  With fitness trackers, smart watches, smart phones and the every-growing role of technology in our lives, the technology capabilities of an organization highly influence perceptions and customer preferences.    
2. Physician expectations:   With ever-growing pressures on physicians, the organization that can provide the best digital experience for the physicians and their patients will have an advantage.
3. Digital Transformation, convenience, access and customer experience:  The optimal use of technology to provide timely access to the right care, when, where and how the consumer wants it.   Amazon has leveraged this point to take massive market share from traditional retailers, and some healthcare organization will do the same in healthcare.  

  
THE CHALLENGE:

1. TIMING, AGILITY, SPEED:  While the healthcare systems in Austin are some of the largest in the country, unfortunately massive size can often be a detriment.   Too often the huge healthcare organizations get bogged down and their enterprise processes take far too long to execute, while their smaller, more agile, innovative competitors seize the “window of opportunity”.  Those “windows of opportunity” are getting smaller, technology change is moving faster, and timing is mission critical. 
2. ABILITY TO TRANSFORM: Which one of these organizations will break free of the historically slow processes and traditional approaches, and embrace agility and digital transformation in healthcare?
3. LEADER vs. FOLLOWER:   More than 30 years ago I heard a renowned healthcare leader state “in healthcare there are only a few real leaders, and most are followers”.   Unfortunately, now many years later, the same is still true.  So, the questions are:
   • Who will be that leader? 
   • Who will challenge traditional ways, change the pace, seize the window of opportunity and lead real healthcare transformation?  
   • Who will be the technology-savvy leader that leverages digital transformation and the full potential of technology in healthcare? 

Healthcare is going through a time of significant change in Austin, and digital transformation will cause the pace and impact to increase.  It will be exciting to see which organization will take the right, decisive actions to turn these changes into advantages, and create the best healthcare in Austin.   

​Most business leaders recognize the importance of having the right leadership in key roles.  They also know the influential role that technology plays in business, especially now that we are in the “Digital Age” and Digital Transformation is reshaping industries.  So why do some business leaders settle for an ineffective technology leader that can drag down their operations and the competitive position of their entire company? The common misconceptions and justifications often heard are:

An independent, comprehensive review of the company’s technology organization will provide valuable insight into the gaps, hidden issues, root causes, technology leadership effectiveness and potential risks of the current state.  Successful companies have engaged excellent technology leaders, and you can too once you have the right plan of action and a better approach.

For more than thirty years I have served both as the CIO/CTO that’s leading the technology organization, and I’ve also served as a global technology advisor to CEOs that are seeking to transform their under-performing technology organization.  Business leaders often know that they need more from their technology organization, and they are looking for the right place to start the improvements. 

Having reviewed many technology organizations over the years, the common finding is great technology leaders produce great technology organizations, and an ineffective technology leader will produce a struggling, ineffective technology organization.  Just as great companies have great CEOs, the same is true for great technology teams being led by great CIOs.
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If your company is struggling with your technology, it’s time to review the technology organization and it's leadership.  Regardless of the size of your company, your organization must have the right technology leadership, and there are new, excellent, affordable options available.  Don’t settle for less, and don’t let traditional thinking get in the way of success. 

A common challenge for rapid growth businesses is finding the right leadership resources for key roles. Do any of these scenarios sound familiar?

• You need a proven, accomplished leader and/or a specific expertise but can’t afford it right now.
• You need to upgrade or improve company leadership in a key area.
• You need immediate expertise and can’t wait for the typical long recruiting and placement cycle. Your business needs help right now, not 6 months from now.

One of the business functions most commonly impacted by this dilemma is technology. Technological capability can be a great strength and advantage for companies, but it can also be very costly and damaging if it’s not properly executed. Poor technology decisions can leave a business leader struggling to play catch-up and paying for very costly missteps.

Fortunately, there are firms that offer a great option to address these challenges, in the form of virtual or fractional leadership.  They provide a proven leader that is tailored for your specific business needs and budget.  

In this article, we’ll focus on the solutions available to solve constraints for your technology leadership, but it’s important to note that similar solutions are also available for marketing, sales, human resources, and other core business operations areas.

Let’s review some common scenarios business leaders may face, and outline how working with a fractional or virtual leadership firm can help:

Affordability: 
Often small businesses start out just hiring someone to support their PCs, network, phones, and basic technology operations. As the business grows, a higher level of expertise and strategic thinking is needed. Your business needs resources and expertise, but you can’t afford to pay the cost of a high-quality full-time Chief Information Officer (CIO) or Chief Technology Officer (CTO).
Fortunately, there are firms that can provide a fractional/virtual Chief Information Officer that has the right expertise at a fraction of the price of a full-time employee. Whether you need them onsite 2 hours a week or 40 hours a week, these firms can tailor their services to fit your specific needs and budget. You get the expertise you need, when you need it, and at a cost that fits current business. This approach can save a business more than $100,000 per year over hiring a full-time employee.

Better fit:
Imagine that your business needs expertise for a very critical decision, a specific initiative, or a peak demand period, and/or to help you ensure your technology organization and technology investments are appropriate for your goals. However, whatever expertise you pay for, it must be affordable and a great fit for your specific needs. Fractional/contracted leadership is a perfect solution for these situations. You get to work with someone who has the specific expertise and experience you need for your challenge, but instead of paying a full salary, you only pay for advice as needed.  

Don’t settle for less:
Too often, companies settle for a department leader that lacks the correct experience and/or expertise just because they feel that they can’t afford a better fit. Whether you are recruiting for a new leader, or evaluating a current leader in your organization, don’t settle for less. Remember the old business saying, “The resources that brought you to this point probably aren’t the right ones to take you to the next level.”  While you greatly appreciate the efforts of the personnel that helped you get the business started, you need to improve the caliber of leadership in order to be successful.

If you find yourself in this scenario, it may be time to consider engaging a technology leadership expert or firm that can provide the top talent for your company’s specific needs,  in a manner that best fits your budget. Don’t just settle. Instead have the right, proven, accomplished expert on your team. It will make a big difference.

Immediate Contribution: 
Need immediate expertise and can’t wait, business leaders may find themselves in need of advice, but they can’t wait the 6+ months necessary for a full recruiting and placement cycle. In the fast pace of today’s market, that six-month period represents the potential for a lot of missed opportunities or missteps. Fortunately, there are firms that provide world-class expertise to address your needs immediately. Instead of waiting through the grueling 6+ month process of a traditional recruiting process, you can make meaningful and informed decisions quickly.  

David vs. Goliath:
You need high-quality expertise to compete with your larger competitors. They may have larger budgets, but when you apply this innovative leadership approach, you can take advantage of world-class leadership talent with a far more affordable and agile approach. The best talent at a significantly lower cost: that’s how David conquers Goliath.
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Savvy business leaders are now tapping into this new approach and using it to their advantage, as it quickly allows them to access proven experts that are tailored to their specific business needs and budget. Evaluate your improvement opportunities and determine whether your business may benefit from this better approach.  ​

Digital Transformation will reshape your industry and significantly impact your business. The age of digital transformation rewards early adopters (and a few super-fast followers), leaving others to play catch-up and struggle to survive.  It’s vital for business leaders to have a clear understanding of Digital Transformation and the right way to approach it.  Too many companies get caught in the hype, are misled by the wrong guidance, and don’t really understand the true business value and the right approach. Let’s clear up some of the common misconceptions.

Digital Projects vs. Digital Transformation: 
Some companies mistakenly think that implementing a digital project, such as a new ERP, CRM, or financial system, is the extent of digital transformation. While those projects may provide an incremental improvement, they’re far from the full potential a digital transformation can provide.  Merely implementing a technology/system is not the same as Digital Transformation. Let’s better define Digital Projects and Digital Transformation, and take a closer look at the differences.   

• Digital Projects: Projects that reduce costs, increase speed and/or quality within the current operating model through the application of digital technologies.

• Digital Transformation: Programs that change how the business operates and business objectives are achieved, removes friction and optimizes the customer experience, and transforms the overall business model by leveraging digital technologies.

 
Technology initiatives typically take the form of either digital projects or digital transformation. These different directions deliver two very different types of results in value:

• Digital projects can produce only incremental value.
• Digital transformation can produce business-changing/market-changing value.

 
Improving the operating or business model is the key to achieving business-changing value and changing a company’s competitive position.  At the same time as a company designs and builds its digital platform, it must reengineer its operating model, including their mindset, resources model, customer experience, organizational structures, and end-to-end processes.

A recent cautionary example: 
For an example of how digital transformation affects businesses, let’s look at the retail industry. Years ago, local family-owned retail stores dominated most of the market. Then Walmart came along with their “just in time” inventory system that facilitated lower prices and an ever-growing network of stores. They looked unstoppable… but along came Amazon. Though at first it seemed like just an online bookstore, Amazon had ambitions of expansion and a well-thought-out digital transformation plan.

As a result, the once-dominant Walmart has been significantly impacted, and has closed stores across the country. In this instance, Walmart has been relegated to the role of “superfast follower.” In an effort to compete, Walmart purchased online retail startup Jet.com and revamped their leadership team to fast-track their plans to catch up to Amazon.

Amazon’s digital transformation has changed the way the retail industry works, and they’ve left big-box retail stores struggling to stay in business. All it takes is a look around the empty shopping malls and shuttered outlet malls to see the impact of digital transformation on the retail industry as a whole.   

There are similar examples in other industries, and eventually every industry will be impacted, including your industry.  

Seize the opportunity
Which role will your business play: the digital transformation market leader, or the straggler? What should you do now to make sure you are in the right market position?  
The following recommendations can help you get on the right track:

Article originally provided to and featured by the Business Bank of Texas: www.businessbankoftexas.com/business-resource-center/10-signs-that-you-need-to-evaluate-your-business-information-technology?utm_campaign=Q1%202017-%20BRC%20Business%20Owner&utm_source=hs_email&utm_medium=email&utm_content=67812255&_hsenc=p2ANqtz-_3Ijyjrn7y_qXbKbV9nfknJH98Uz-NKoASCvR6Zu4MyMrI0XUZWH_IZaqu_AzHAYsZ8-r8zfcO4AlltGdjhgkODIE6og&_hsmi=67812255

This article is the fourth and final part of a series on the technological challenges business owners face in 2018. In past articles, we’ve looked at cybersecurity measures, getting ahead of the technology skills shortage, and building agility into processes. Today we’ll look at how businesses can incorporate smart processes with technological solutions, or to put it simply: digital transformation.

In order to improve operations and deliver more value to customers, businesses need to effectively integrate the right technologies. All too often, company leaders are lulled into thinking they can maintain the status quo and continue to perform well. But recent history is full of examples of companies that fell into this mindset; by the time they finally responded, it was too late.

​Times have changed. The age of digital transformation rewards early adopters (and a few super-fast followers), leaving others to play catch-up and struggle to survive.

A recent cautionary tale
For an example of how digital transformation affects businesses, let’s look at the retail industry. Years ago, local family-owned retail stores dominated most of the market. Then Walmart came along; their “just in time” inventory system facilitated lower prices and an ever-growing network of stores. They looked unstoppable… but along came Amazon. Though at first it seemed like just an online bookstore, Amazon had ambitions of expansion and a well-thought-out digital transformation plan.
As a result, the once-dominant Walmart has been significantly impacted, and has closed stores across the country. In this instance, Walmart has been relegated to the role of “superfast follower.” In an effort to compete, Walmart purchased online retail startup Jet.com and revamped their leadership team to fast-track their plans to catch up to Amazon.
Amazon’s digital transformation has changed the way the retail industry works, and they’ve left big-box retail stores struggling to stay above water. All it takes is a look around the empty shopping malls and shuttered outlet malls to see the impact of digital transformation on the retail industry as a whole.

How to stay ahead
Which role will your business play: the digital transformation early adopter, or the straggler? What should you do now to make sure you are in the right market position?
The following recommendations should help you get on the right track:

Identify and acquire the required resources
To win the digital transformation game, you need to have the right tools and team for success. Assess your ability to execute your digital plan with the resources you currently have. Typically, the technological solutions that brought you to this point won’t be the same ones that will drive your future success.
You also need to determine whether your current internal resources can continue to run the day-to-day aspects of the business while effectively driving your digital transformation. Engage a seasoned advisor who can provide an unbiased review of your current systems, identify opportunities, and drive timely execution. Digital transformation is a new concept for most people, and many companies struggle to figure it out on their own. The right advisor can help your company avoid missteps on the road to a timely and successful outcome.

The Right Plan
Some companies mistakenly think that implementing a new ERP, CRM, or financial system is the extent of digital transformation. While those tools may be a piece of the overall plan, they’re far from the full potential a digital transformation can offer. True transformation involves internal processes, customer experience, delivery of services and products— essentially the full continuum of your business. Make sure your digital transformation leaders understand the difference and are prepared to serve as change catalysts. That means challenging traditional thinking and identifying needs, gaps, and opportunities.

Execute
Act and execute like your future is counting on it… because it is. Amazon didn’t gain their advantage in the retail industry by merely crafting a great plan; they also executed the plan in a more timely and more effective manner than their competitors. Innovation and business opportunities have a window of opportunity. Take action now, start fast, and execute to win this race.

​Market-leading companies fully leverage and optimize technology to improve their operations and deliver more value to their customers.  When your technology fails, you’re not only losing profits, you’re also losing customer confidence.  Businesses are currently in a Digital Transformation race that rewards the first movers and most agile, and leaves the others playing catch-up to survive.  Inadequate cybersecurity can expose sensitive information and put your business at risk. If it’s been a while since you’ve evaluated your company’s technology, most likely there are many issues that you’re not even aware of.

​The following are signs that it’s time for an independent review of your Information Technology (“I.T.”) organization:

1. Your business is evaluating new technology options.   Are you considering a new system or a move to the Cloud?  There are many factors, risks and issues that must be taken into consideration.  An unbiased, I.T. assessment will help evaluate the options, provide essential insight, and craft the right plan of action.
2. Lack of a comprehensive technology strategy and roadmap. 
3. I.T. costs continue to increase, but I.T. service and satisfaction declines.  There is a negative view/sentiment of I.T. within the company.
4. I.T. tends to be a Laggard instead of a Leader for your company.  In today's rapidly changing market, companies are in a Digital Transformation race. Do you have the right team to win this vital race?  Is your I.T. frequently in “fire-drill mode” and merely reacting to requests?  A technology assessment will uncover the issues and chart the course for putting your technology organization on the right path.  
5. Your systems have been hacked, or your cybersecurity readiness is unknown.  The proper cybersecurity is essential for your future, and it starts with an independent cybersecurity review.  You must proactively identify and address your risks. 
6. Frequent and/or unexplainable outages and technology emergencies.  Nagging I.T. issues are pulling time away from core business functions.
7. Lack of Agility​:  I.T, can’t keep up with the pace of your company.   It’s great that your business is growing, but the celebration won’t last long if you’re trying to expand and meet the needs of a growing market, but your technology can’t keep up.  Today’s business requires agility, and your technology organization must be able to quickly adjust to changing demands, and be capable of producing timely results.  
8. Ineffective technology governance.  Many departments have pressing technology needs.  How does your company set, manage and communicate unified technology priorities?  Does your company have data silos?  Does the information that executives receive vary by department, and/or the reports don’t paint an accurate, cohesive picture?
9. Frequent “NO” from I.T. on new requests.  Are the negative responses from I.T. due to resource constraints, inefficiencies, lack of governance, culture, attitudes, processes, or leadership?  An assessment is a great way to understand the underlying issues and turn "no" into "yes, we can".  
10. Skill set shortage.  Do you have the right technology resources?  Do you have the right leadership, the right skill sets, optimized processes, and the most effective technology organization?  

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If you observe any of these signs, it's time for an Information Technology assessment.
Xtrii performs comprehensive, cost-effective technology assessments that are conducted by proven technology experts that have helped some of the world's best companies achieve extraordinary success.     

The following is a written transcript of an interview of Mark Johnson, Chief Executive of Xtrii, conducted by Exec Tech.  

​Technology plays a key role in all businesses today.    The right technology can provide a competitive advantage and be a valuable asset for your business, and conversely, the wrong technology and/or an unsuccessful technology implementation can be devastating.   So, before you make that key technology decision, consider these key points in selecting the right technology guidance:

1. Hands-on experience with proven results:  the source of real knowledge is experience.  Avoid a career-consultant that only has theories and generic consulting templates.  Only take advice from someone that has been there, done it, and has had to live with the results. 
2. Ability to initiate a mental shift: to fully leverage technology and achieve better outcomes, often it requires a mental shift.  The organization has to change their old ways, rethink processes, and be willing to change.  The right consultant is a change catalyst to help you and the entire organization with the mental shift.
3. Unbiased:  make sure your internal advisor isn’t biased with internal agendas or personal relationship.  For external advisors, make sure they aren’t also reselling or representing the products/services you are considering, or have other incentives that can influence or bias their opinions.  
4. Uncomfortable truths and unpopular decisions: the advisor must have the courage to call a bad idea, a bad idea.   Even experienced business leaders can be prone to ignoring uncomfortable truths about your business, but the realities exist and must be addressed. 
5. Timelines:  The right advisor will help you determine the right pace and time frame.  If you drag out a technology initiative too long, the organization tends to get project fatigue and loose focus.  If you rush the process or skip vital steps, it could produce unsuccessful results.   True innovation has a “window of opportunity”… don’t miss it.      
6. Unique: Don’t follow a “generalist” that is just reusing the same generic templates from their national firm… if you follow the same generic plan that everyone else if following, where’s your differentiator or competitive advantage?  Insist on tailored guidance and unique expertise.   Your technology advisor must have the depth of understanding and applicable, extensive experience to provide the right insight and unique guidance tailored to your specific needs.  
7. Provide a real solution and overcome challenges:  While many consultants can motivate you and tell you inspiring, interesting stories, do they have the right experience, insight and leadership to help you overcome challenges and achieve the goals?  The right advisor will help you navigate challenges, and implement timely solutions that work. 
8. Clear, written roles and expectations:   Make sure their role, the deliverables and the expected outcome is clear at the outset. and spelled out in a written statement of work.  

This image shows the impact that storytelling has on the human brain.   It's a great example of why your presentation should include storytelling.  

So next time you prepare your presentation, don't create the same old boring, bullet-point style presentation ... instead, think about how you can create a great STORY that will engage and leverage the affects that storytelling has on the brain of each of your audience members.