The importance of technology architecture and infrastructure within businesses has magnified greatly over recent years. If, say 20 years ago, technology was seen as a support function, it has now become an absolute necessity for any company to operate and, if optimised, it is a significant differentiator.
The creation of both ‘open’ and secure architectures is key – it enables the establishment of connected technology ecosystems that extend way beyond the traditional company boundaries and are far more powerful than ever before.
The ability to achieve this architecture is now becoming a core assessment when reviewing the current state of a company, its prospects for the future and, ultimately, its intrinsic value. As such, for dynamic businesses who are looking to grow and create value, the state of its technology infrastructure should be under constant, constructive review.
At Hg’s mid-year catch up, CIOs & CTOs from across the portfolio, as well as experts in technology due diligence and security, came together to discuss the importance of maintaining a critical, but constructive eye on the ever changing and connected business technology ecosystem. The sessions reviewed three core questions asked when diligencing the tech architecture of a company:
- Is the technological architecture of the business suitable and will it sustain and support the business’ future aspirations?
- If the architecture needs to evolve, do they know where they are going…and how to get there?
- Do they have the right people (leadership, technical know-how and structure) to execute this vision or roadmap?
The Forum provided guides on how to assess your own business against these questions, whilst also discussing the importance of maintaining a secure development lifecycle. The benefits of this include building customer and buyer confidence, treating security (including cybersecurity) as a continual concern, helping to build more secure software products, improving stakeholder awareness and engagement of security concerns, reducing cost through the early detection of security concerns, and, overall, reducing intrinsic business risk across a company.
The topics discussed were supplemented with examples of how Hg’s Operations Innovation team have helped assess the portfolio to highlight best practices across the group. Until the full year CIO / CTO catch up later this year, technology leaders continue their discussions on Hg’s Hive platform – our newly launched, trusted, online environment for portfolio collaboration.
“I found the mid-year forum extremely useful. The due diligence content was great and applies to both when we look at acquisitions, and also when we review our own systems. Security is always an interesting subject and we look at how that applies to our development lifecycles, so this content was also highly relevant. Overall this is a great opportunity to connect with everyone, old faces and new teams, that have been introduced to the Hg portfolio. I’m on Hg’s Hive platform and I’ve already thought of a few questions I can get feedback on. This is a great tool for us to use and share information.”John Landy, Chief Technology Officer, Sovos.
“The forum was fantastic, with great, hugely relevant topics. The key takeaway for me was to look at the bigger picture, the new cover framework on security and M&A. I am already looking forward to the larger forum in March.”Espen Håkonsen, CIO, Visma.
“The session was really useful. We learned a lot about technology due diligence which is now an ever important factor for all the people here, who ultimately get involved in that process. Sharing experiences about our toolkits really make an impact as well. Key takeaways are that I’m going to make great use of the Hg Hive platform. The idea that we now have somewhere to have these conversations, to share that information and to uplift everybody else, is part of the magic ingredient of Hg and I can’t wait to make better use of it.”Matthew Burnett, Chief Technology Officer, Commify.
“It’s really great that Hg hosts these events for the portfolio. They’re really interesting, with a good bunch of people coming together, sharing ideas, networking and collaborating, which I think is always useful. I think the topics today were also very relevant and pertinent – top of the mind for CIO & CTO’s today. I’ve seen other private equity firms bring their portfolio together, but I think the way that Hg does it sets them apart, so really good job.”Wayne Filin-Matthews, Global Head of Digital Strategy & Architecture, Crosslake.