8OCTOBER 2024CFO TECH OUTLOOKIN MY OPINIONTHE CULTURE OF TECHNOLOGY AND WHY IT MATTERSBy Shaun Kapusinski, Senior Director, Technology, Sequoia Financial GroupWe live in an environment that celebrates more, faster, better. It seems like every time we turn around, there is another update, upgrade, or version of the technology we're currently using. Often, changes are minor and incremental. We need to make the smallest of tweaks, if any at all, to keep up. But other times, there's a jump that requires more effort and mental energy than we have to give. It's no surprise, then, when companies find technology that meets their needs, or at least meets enough of their needs, that they choose to stick with what works. Unfortunately, in such a fast-paced environment with a technology landscape that is constantly changing, this mindset hinders companies from keeping up with their competitors. We don't want to be stuck with outdated tech, but we also don't want to make changes just for the sake of making changes. What we want to develop is a culture of technology that serves our clients, supports our staff, and influences our decisions for a successful future.In The Financial Advisor M&A Guidebook, my co-author and I refer to the common adage that "culture trumps strategy." I believe this truth goes well beyond M&A events and applies to any financial environment. Culture will always dictate expectations of behavior, language, and ways of thinking. What we do and what we say affects our team's mindset for growth, change, and adaptation. Because culture is so important, it behooves us as overseers of information and technology to take time to evaluate whether our current tech culture needs to change. In the following sections, we'll look at why. A Culture of Technology Influences Our FocusDoes your technology allow your team to focus on client needs versus their own fully? Do the needs of your clients match up with the capabilities of your systems? Do your employees have the resources and training to serve and assist clients in a timely manner? Is there a disconnect or mismatch anywhere? If there is, the first step in changing culture is to communicate the value your technology brings to each person's role. How do you do that? It starts with managers. Internal technology systems are worthwhile insofar as they are actually used and how well they are used. Make sure your staff knows your expectations that technology is a means to ultimately benefit the clients. You must clearly communicate that people are the focus, not the programs.When a company systematically invests in technology and spends time and money to train employees properly, you create a cultural expectation for growth. For example, companies that provide learning management systems, create documented manuals with procedural standards, and match new employees with mentors or learning buddies show that the company values communication, connection, and consistency -- all of which create a positive work environment that ultimately benefits the clients.
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