How to align your technology choices with your business goals?

Technology is constantly evolving and creating new opportunities and challenges for businesses. But how do you know which technology trends are worth investing in and which ones are just hype? How do you ensure that your technology choices align with your business goals and objectives and deliver value to your customers?

In this blog post, we will explore some of the key technology trends that are shaping the future of business and how they can affect the value proposition of technology for customers who view their technology as a critical part of their goals and objectives achievement for business success.

What is technology value proposition?

Technology value proposition is the statement that describes how your technology solution solves a customer's problem, meets their needs, or provides them with a benefit. It is the reason why a customer would choose your technology over other alternatives or stick with your technology over time.

Technology value proposition is not just about the features or functions of your technology, but also about the outcomes and benefits that your technology enables for your customers. It is about how your technology helps your customers achieve their goals and objectives, whether they are related to efficiency, productivity, innovation, quality, customer satisfaction, or competitive advantage.

Why is technology value proposition important?

Technology value proposition is important because it helps you communicate the value of your technology to your customers and differentiate your technology from your competitors. It also helps you align your technology strategy with your business strategy and ensure that your technology investments are aligned with your customer needs and expectations.

Technology value proposition can help you attract, retain, and grow your customer base, as well as increase customer loyalty and advocacy. It can also help you justify your technology spending and demonstrate your return on investment (ROI) to your stakeholders.

How do technology trends affect technology value proposition?

Technology trends are the changes or developments in technology that have the potential to impact the way businesses operate, compete, or serve their customers. Technology trends can create new opportunities or challenges for businesses, depending on how they respond to them and how they leverage them to create value for their customers.

Some of the technology trends that are shaping the future of business include:

• Artificial intelligence (AI) and machine learning (ML): AI and ML are the technologies that enable machines to perform tasks that normally require human intelligence, such as reasoning, learning, decision making, and natural language processing. AI and ML can help businesses automate processes, optimize operations, enhance customer experience, generate insights, and drive innovation.
• Internet of things (IoT) and edge computing: IoT and edge computing are the technologies that enable the interconnection and communication of devices, sensors, and machines across the internet, as well as the processing of data at the source or the edge of the network. IoT and edge computing can help businesses collect and analyze data from various sources, improve efficiency and performance, enable real-time and remote monitoring and control, and create new business models and services.
• Cloud computing and 5G: Cloud computing and 5G are the technologies that enable the delivery of computing resources and services over the internet, as well as the next generation of wireless network that offers faster speed, lower latency, and higher capacity. Cloud computing and 5G can help businesses access and scale resources on demand, reduce costs and complexity, enhance mobility and connectivity, and enable new applications and experiences.
• Blockchain and cybersecurity: Blockchain and cybersecurity are the technologies that enable the secure and transparent exchange of data and transactions across a distributed network, as well as the protection of data and systems from unauthorized access, use, or damage. Blockchain and cybersecurity can help businesses improve trust and transparency, reduce fraud and risk, streamline processes, and comply with regulations.

Technology trends can affect the value proposition of technology for customers in various ways, depending on how they relate to the customer's problem, need, or benefit. For example, technology trends can:

• Enhance the value proposition of technology by creating new or improved outcomes and benefits for customers, such as increasing efficiency, productivity, innovation, quality, customer satisfaction, or competitive advantage.
• Diminish the value proposition of technology by creating new or increased challenges or risks for customers, such as increasing complexity, cost, vulnerability, or uncertainty.
• Change the value proposition of technology by creating new or different expectations or preferences for customers, such as increasing convenience, personalization, collaboration, or sustainability.

How to align technology trends with technology value proposition?

To align technology trends with technology value proposition, businesses need to understand how technology trends affect their customers and how they can leverage technology trends to create value for their customers. Businesses need to:

• Monitor and analyze technology trends and their impact on the market, industry, and customer segments.
• Identify and prioritize the customer problems, needs, or benefits that are relevant to the technology trends and their business goals and objectives.
• Develop and communicate a clear and compelling technology value proposition that addresses the customer problems, needs, or benefits and differentiates the technology from the alternatives.
• Deliver and measure the technology value proposition by implementing the technology solution, providing customer support and education, and tracking customer feedback and satisfaction.

By aligning technology trends with technology value proposition, businesses can ensure that their technology choices are aligned with their business goals and objectives and deliver value to their customers.

#TopTechnologyChangingNamibia

Sonja Coetzer - Managing Director

What have we seen happening with the cybersecurity front in Namibia so far in 2024?

In the first quarter of 2024, we have seen an uptake in the lockbit 3.0 or AKA known as lockbit black. We have seen the hacker group “Hive” and the collective ransomware as a service group “Blackcat” working together in deploying Lockbit 3.0 in more creative ways.

So, how did this effect Namibia, we have seen that no Financial institute and no Parastatal is save. Ransomware has been the primary attack against Namibian companies as a whole and both collectives, Hive and Blackcat being behind most of these attacks. Although these attacks is old news for most, Namibia and Sothern Africa, it is new and a very real threat.

Are these attacks a threat, if any?

Yes, these are, and very successful executions has been made. What is more concerning is that these attackers leaves a message stating that they can do it again at anytime and that ransom is the only way to get your network back. These attackers do not hold back and have no shame. The big threat here is, the lack of management or security staff in Namibia. We see that these attacks are well directed where these attackers realize loopholes in the management of passwords, VPN and remote RDP connections.

What to do?

Again, Namibian companies must really look at securing the basics. Password Policies, Anti-Virus being up to date, patching regularly. These three area’s falls short in almost every successful attack. Namibia is playing in the big league on the internet. There is no “3^rd world” internet for Namibia. Here we play with the big boys and will be attacked just like the big countries and companies.

What to expect in 2024 going forward?

Two very big factors to look at, although there are many more, these two stand out. Ransomware with Blackcat and Hive will go on and WILL escalate. These attacks are very well thought out and companies that does not take their security polices seriously (by actually implementing them) will be an easy target.

The 2^nd. IOT all over the world have become an easy target, just because home users connect these devices to their home network with out any security and this opens up easy backdoors. As this is becoming more prevalent over the world, Namibia needs to lear from it. True, Namibia is not heavily invested in IOT yet, but it is coming, and when it does, take your IOT security seriously. Change the default settings and password.

#TopTechnologyChangingNamibia

Johann van Rooyen - SOC and SIEM Manager