Overview
A Cornerstone Strategic Technology Plan provides you with a clear picture of your organization's technology vision, helping you better prioritize technology initiatives, invest appropriately in new systems, and ensure your employees and support staff are prepared for the company's emerging technology environment.

The Strategic Technology Plan utilizes findings of a Technology Assessment to provide your institution with:

• A forward-looking view of new technologies, an understanding of how they will impact financial services, and an outline of innovations your organization should exploit
• A formal technical architecture that will guide the procurement and development of all future systems in the institution
• A clear articulation of the organization's strategic business requirements and how technology will specifically support this strategy
• A prioritization of technology initiatives with corresponding cost estimates for each proposed investment
• A clear delineation of how technology resources will be managed within the organization, including roles and expectations of both I.T. and business area staff
• A plan of action to integrate technology initiatives with process improvement and product/channel development opportunities
• A review of the existing processes and organizational structures that support I.T. planning and project review and potential recommendations for increased efficiency and accountability

Our methodology is strengthened by a team of business strategy and IT professionals that specialize in communicating an integrated strategic and technology vision appropriate for senior management, board members, regulators, and vendor partners.

Our Approach
A highly competitive landscape demands that financial institutions leverage their IT investments to provide measurable business benefits. Your success relies on infrastructure and systems that align the strategy, people, and processes of your organization. Cornerstone utilizes a six-step approach for Strategic Technology Planning to achieve alignment.

Step 1 - The Technology Assessment
Our project starts with a formal assessment of your institution's technology environment, including the level of satisfaction with applications and outsourcers utilized as well as the condition and reliability of the technology infrastructure. The Technology Assessment can be performed as part of a strategic technology planning effort or as a standalone project.

Step 2 - Management Planning Session
Cornerstone presents its findings in a management planning session that includes an open discussion regarding the organization's competitive strategy and the role technology will play in supporting it. We help you define how your institution will differentiate itself and identify business requirements to execute this vision.

Step 3 - Departmental Strategy and Project Plan Development
During this step, Cornerstone works with individual departments and the business integration function to finalize IT strategies and process improvement plans.

Step 4 - Strategic Technology Plan Integration
Cornerstone consolidates departmental plans with the overall IT strategy to create a single, unified plan document that details how your institution will prioritize, manage and finance a "best of breed" environment.

Step 5 - Presentation of Strategic Technology Plan
Cornerstone and the IT group present the final Strategic Technology Plan to senior management in a meeting that solidifies commitment from senior management to an overall technology vision and educates business executives on the need to coordinate technologies and processes to make customer integration a strategic priority.

Step 6 - Information Technology Steering Committee
Cornerstone helps your institution develop and/or mature processes related to its IT Steering Committee. We work with you to guarantee that, through the Steering Committee, management technology planning and discussions focus on strategic issues and opportunities.

Cornerstone's approach will leave you with a pragmatic road map in hand for deploying and operating technology, giving you confidence that IT investments support your institution's strategic goals.

Many of our bank, thrift, and credit union clients combine a Strategic Technology Plan with our Project Prioritization methodology services.

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