8 Types of Statistics You Need For Your Next Board Meeting

8 Types Of Statistics You Need For Your Next Board Meeting

Board Meeting statistics
Organisations tend to push IT proposals aside, often in favour of departments that can provide more tangible results. Yet the health of the IT infrastructure is an important building block of a successful organisation. This is the key takeaway that your board of directors should understand when you finish presenting your IT proposal in a board meeting. Statistics can help you achieve this. If you’re wondering how to make your IT proposal more influential and get everyone on board (pun intended) with it, here are eight useful tips about proposal statistics that will help you.

#1 Make Statistics Relevant

Statistics provide an in-depth look at the current state of affairs and are a good starting point to showcase just how your solution can make it better. Back up every statement you make when presenting your IT proposal with statistical data: detail your current operations and IT structure, highlight the current issue, and present supporting evidence and figures. If you wish to implement new security solutions to the whole IT framework, explain what’s wrong with the current setup. For example, you have a significant amount of unstructured data that makes it hard to analyse and monitor everything. Show them statistics on how businesses without centralised data have a hard time protecting it.

#2 Statistics Provide A Fuller Picture

Staying ahead of your competitors is intertwined with staying on top of the latest technological trends, and it’s hard to keep up if you’re not an IT professional. This is why you shouldn’t stop at statistics about improving security and business operations in your organisation. Give the board statistics that highlight a full picture of how your IT solutions will affect their position on the market. How will they strengthen it? Will they shift power levels compared to the competitors?

#3 Use Their Point Of View – What Metrics Matter The Most?

This is the basic “what’s in it for me?” question. What is the most important thing to them? To make sure the organisation remains profitable. How does your proposal help with that? Avoid being overly technical: explain how your proposed IT solution works, and then focus on benefits. Expect a “why fix if it ain’t broken” remark along the way, and prepare your statistics accordingly. For example, why would you invest in additional security measures if you’ve never had a security breach? You have to explain that data breaches have to be detected, and without the right solution, it’s very hard to determine whether your data is being leaked or not. The latest example of Marriot shows that it can go on for years before being discovered. Statistics from other organisations showing losses, the business impact, and the true cost of a threat can be the numbers that the board needs to see what they could be exposing themselves to.

#4 Prepare Data-Driven Answers To Their Pain Points

Prepare answers for the biggest pain points of implementing new IT solutions: downtime, costs, and the risks of not implementing the solutions you suggest. For some businesses, downtime is just not acceptable in any shape or form. To get them on board with your idea even if downtime is required, explain how much it would cost to do nothing in the long run. Prepare statistical data on the costs of implementation and switching to a new system vs. costs of continuing using the old system over the course of five years, and present long-term outcomes. You might want to invest in a system that can give you real-time statistics for such scenarios. When they see the numbers in real-time, it will be easier to convince them.

#5 Alignment On Goals Is The Most Important Thing

It all boils down to whether your proposal aligns with the business goals. Find out which goals are most important, and then you can provide relevant statistics on how the implementation of your solution helps achieve those goals faster.

#6 Show Them Numbers On Disruptive Technology

New and better ways of doing things pop up almost every day, and it’s hard to keep up without investing in new solutions. Emphasise that those solutions are now cloud-based, which brings costs down considerably when compared to traditional in-house settings. This also makes them highly adaptable to your needs – if you need to scale up, they will scale up; if you need to take it down a notch, you can do that too, and the pricing will follow accordingly. This gives the company the much-needed agility to quickly respond to shifts in business environments.

#7 Present Opportunities

Follow up by quantifying the benefits of implementing your solution, for example, how much better security, lower costs, by how much? , quick adaptation to changes, how quick?, faster and less disruptive security updates, and so on.

#8 Also Mention Dangers

Explain that your solution doesn’t come without risks. List those risks, as well as ballpark numbers on the likelihood that they happen, and present backup plans for each. Statistics are one of the best ways on how to make your IT proposal more influential and help you ace your board meeting.

Improve Business Reactivity

When technology meets ‘bottom line’, There’s Boardish.

5 Tools in a CTO’s Arsenal for Making Tech Proposals

5 Tools In A CTO’s Arsenal For Making Tech Proposals

5 Tools in a CTO’s Arsenal for Making Tech Proposals
When preparing your tech proposal, there are many hurdles to overcome – first and foremost, you need to align it with long-term organisational goals, but this is only the beginning. In order to truly ace the proposal in front of the board, you will need a good selection of tools for making tech proposals to help you prepare.

#1 PowerPoint

It goes without saying that PowerPoint is the go-to tool when you’re making a tech proposal.  It helps you emphasis what you’re presenting, can make your proposal more engaging and offers a delivery method that is pleasing to the eye. Just remember to keep information concise! There’s no point in you just reading off of a slide so keep it brief and make your speech go hand in hand. 

Some pointers on how to design your PowerPoint presentation include the following: 

  • Your first slide is the one that should grab their attention, so be direct and simply list all the topics you will cover. Avoid any specifics here.
  • After that, discuss the risks the business are currently facing, as well as the potential impact they might see. 
  • Then discuss possible solutions you’re proposing and how your tech solutions will contribute to business optimisation, execution, and efficiency.  
  • The closing slide should always be strong, summarise the most important points, and be clear about your requests. 

Statistics are the key here! The board and senior staff members are interested in the numbers! They want you to justify and quantify what you’re saying.  

 

#2 Canva

Compelling graphics help you emphasise key points and help the board members remember key data and statistics. 

Canva is a great beginner graphics tool that can help you. It’s very simple to use, with tons of templates to get you started. There are free templates to choose from, or you can create your own designs from scratch too. Plus, they have PowerPoint-ready formats you can adapt to save you even more time. 
 

#3 Boardish

Boardish is a uniquely equipped platform that helps you to quantify risks and solutions using visualisations and calculations that the board can relate to. You can use these visualisations in your presentation to demonstrate how specific factors will affect the organisation. It means the board will have an easier time grasping the actual impact of your proposal when you present some hands-on evidence, and they will see clearly how doing nothing or not implementing specific security options will affect them in the long term.

#4 Prezi

For those who want a fully dynamic presentation, this tool for making tech proposals is the next step up from PowerPoint. Instead of making your proposal a one-sided and linear experience, Prezi makes your proposal highly interactive.

There are no slides, just a single large canvas where all the other elements are located. Going from one point to another doesn’t involve going from slide to slide, but from one element to another. You can zoom in, reveal, or jump between elements to achieve a dynamic look.

The only downside is that you have to pay for this particular solution because all presentations are public by default in the free version of Prezi.

#5 Collaboration Tools

Whether it’s PowerPoint Online or Google Slides, being able to collaborate on your presentation with the rest of your IT team or switching devices while preparing your presentation will save you time and resources. If you will be the only one working on the presentation, you can opt for cloud storage options instead of collaborative software solutions to make it simple to work on from anywhere.

A well-prepared tech proposal will be much more than just a well laid out reasoning on why certain IT or cyber security upgrades are needed. It will have captivating visuals, a good narrative, and the right data and statistics too.

Improve Business Reactivity

When technology meets ‘bottom line’, There’s Boardish.

6 Ways To Improve Communication Between IT And The Board​

6 Ways To Improve Communication Between IT And The Board

Budget Pitching Mistakes IT Managers Make
We are finally seeing advancements in how cybersecurity issues are treated across businesses in recent years, with the topic of cybersecurity becoming increasingly important and discussed in board meetings. It’s a good first step, but CSOs, IT managers and CTOs still need to improve communication with the board to make sure everyone is on the same page when it comes to risk and protection.

Why You Need To Improve IT Communication With The Board Of Directors

Every IT executive is aware of how little they can do without the board’s approval when trying to implement a company-wide cybersecurity strategy. But, with new cybersecurity risks detected each day and cyber attacks becoming increasingly sophisticated and malevolent it’s now becoming a must.

How To Communicate With Your Board Of Directors

We are seeing a trend of authorities implementing stricter data security acts to prompt businesses to step up their game. Because of this, the cybersecurity strategy has become a crucial topic to discuss at board meetings.

CTOs, IT experts and managers, as well as cybersecurity experts, need to be aware the the board doesn’t need to understand the mechanisms used by cybercriminals to exploit security flaws.

They are not IT experts; you are. You have to make them aware just what those exploits mean for the company: ruin. But how can you improve IT communications and bring this to their attention? Here are some tips that will help you:

#1 Align With Company Goals

The most important way to improve IT communication is to know what goals are important to the board of directors. That information is crucial to present your cybersecurity proposal as a critical business enabler that will get them there. You will improve your credibility if the board knows you support their business and want to make sure they remain operational.

#2 Use The Right Language

Another method to improve IT communication is to choose your words wisely. Avoid using technical jargon and explaining complex details of your cybersecurity programs. Your board won’t understand you any better if you try to explain the current security architecture.

This is probably the biggest challenge you will face – it’s hard to explain the intricacies of cybersecurity without dwelling into the technical side of things.

Still, focus on keeping things simple: explain where the organisation is standing currently, how much at risk they are, how it might affect stocks, and what steps are needed to mitigate risks.

You will improve IT communication by making your presentation relatable. Use real-life examples and analogies to bring the subject closer to board members. Explain just how important it is to have good security nowadays by highlighting how much damage cyber attacks can cause.

#3 Send Proposal Documents In Advance

You will have a much easier time explaining the need for new systems if you send your proposal documents in advance.

A week in advance should be enough time for everyone to look over your proposal. That way, they can send inquiries and feedback that will help you adjust details that you might have missed.

Include relevant audit and compliance metrics, as well as operational effectiveness. Relevant statistics on cybersecurity that relate to the organisation and what threats could impact its operations are a good points to present to pique their interest. You might want to include recent reports that highlight how unsecured data, public folders, and old accounts enable malware and ransomware attacks.

#4 Make Your Presentation Interactive

PowerPoint might be a go-to tool for presentations in general, and it’s a good starting point, but there are other tools that can help you prove your point.

You can use data breach calculators in real time to asses just how damaging a data breach can be to your organisation, how long it would take to identify a breach, and how much time you will spend until you manage to contain it. You can also include other types of media that help emphasise your points such as video, audio and visualisations.

#5 Be Direct About What To Expect

It is crucial that your board of directors understands that cybersecurity risks can’t be eliminated – they can only be mitigated. Your proposal should emphasise risk mitigation heavily. Explain what procedures you should have in case of a cybersecurity attack. Include things like escalation policies and who to notify first, what insurances will help contain it, how your proposed security measures will help, and what activities are needed after the breach.

#6 Use The Right Tools

Understand the tools that you have at your disposal (we’ve outlined some of the essentials here.) and don’t be afraid to use them. Boardish, for example, will help you create a snapshot of the full risk analysis of the company right now and offer visualisations to put in your proposal. This is a good way to explore and input various elements of cybersecurity and get to see what kind of impact they have on the organisation.

The only surefire way to get your IT proposal approved is to improve IT communication with your board of directors. Present your strategy as a solution that helps the organisation manage risk effectively, and present KPIs to measure the effectiveness and ROI of your strategy.

Improve Business Reactivity

When technology meets ‘bottom line’, There’s Boardish.

6 Winning IT Proposal Ideas to Take to the Board

6 Winning IT Proposal Ideas To Take To The Board

Winning IT Proposal ideas to take tot he board
Taking your proposal to a board of directors is nerve-wracking even with all the preparation in the world. And, you can never be 100% sure whether they will accept your idea or not. This is why we have prepared some tips on the best IT proposal ideas to present to your board of directors, and how to explain the benefits they bring:

#1 Lower Cybersecurity Risks With New Security Solutions

Cybersecurity has become a major focus of all businesses because the latest data breach statistics speak volumes about how much damage they can cause. Keeping everyone up to date on the latest cybersecurity threats and having advanced encryption options is the way to do this.

Educate the board on just how these solutions work. For example: It monitors who is accessing what information, and thanks to machine learning, it will quickly detect anomalies in such processes. If a specific workstation is accessing too much information all of a sudden, it will raise a red flag that you can follow to determine if systems have been compromised.

#2 Reduce IT Costs By Moving To The Cloud

The best IT proposal ideas will emphasise savings and cost reduction, and cloud computing is the way to go. Introduce your proposal on moving to the cloud by presenting the benefits of cloud computing:

  • No more on-site servers
  • No high costs of server maintenance
  • No need to have security staff on premises
  • Lower energy costs
  • Increased security
  • Automatic updates
  • Disaster recovery options

Prepare to explain how security can be better if your data isn’t on premises anymore, and why they should trust somebody from the outside to handle important updates.

 

#3 Reduce Energy Costs And Carbon Footprint

Another great way to get your IT proposal ideas approved is to explain how much energy you can save annually by switching to a system you are proposing. Don’t just say “It’s simple math” – give them hard facts and figures about energy savings. Make sure you mention that your company can get quite a lot of tax breaks for reducing your carbon footprint and going green. The best way to go green is by switching to virtual machines, implementing cloud computing solutions, and going paperless.

#4 How You Can Improve Operations With Automation

Your IT proposal ideas should always explain how they are improving certain aspects of the business. Every business wishes to be profitable, which means to gain as much as possible with minimal investment. This is exactly what new software solutions are helping you achieve.

If your company is still stuck with doing everything manually, get them on board with automation and software-as-a-service solutions. Be very detailed about their benefits – explain how they work, how they are used, how they impact regular operations, and how they can improve them.

#5 Eliminate Delays And Bottlenecks With AI

AI (artificial intelligence) software is already an integral part of business operations. It helps collect and analyse data, and often has advanced tracking and analytical capabilities that can show you real-time data on all operations. These capabilities also identify bottlenecks that might have been missed up until this point. By removing such bottlenecks, the company will increase profits because they can do more in less time, and staff will have more time to work on important tasks instead of being stuck with daily busywork.

#6 Innovating With Smart Technology

IoT (Internet-of-Things) devices that are essentially smart sensors relaying data via the internet are a big game changer. These sensors can be used to track inventory and processes within the supply chain. The company will have real-time information on where inventory is currently located, and even whether it has been damaged in transit. That information helps discover inefficiencies that could have not been observed otherwise.

It also helps by tracking of inventory levels. Inventory management is improved because you can now track how much materials and products are used, so you will always know when it’s time to order more, and have data on how much you have to order.

Smart devices can also be installed to track machines and assets. These sensors can predict possible issues thanks to all the data they gather. Ultimately, this will save lots of money because you will prevent expensive breakdowns before they ever happen.

Just remember that the right IT proposal ideas will not only get your project approved but will propel your business operations and increase company profits, which will help you get your future proposals approved easier.

Improve Business Reactivity

When technology meets ‘bottom line’, There’s Boardish.