You’ve had your financial audit…. Next up is your technology audit!

Given how much businesses now rely on digital infrastructure, a comprehensive, formal technology audit could be argued to be just as essential to an organization’s long-term health and success as a financial audit.  Just like businesses conduct financial audits to evaluate the accuracy, compliance and efficiency of their financial state, a technology assessment can be just as critical, if not more so, in today’s tech-driven world. Technology changes rapidly, and with it, new vulnerabilities emerge.  A technology assessment evaluates vulnerabilities in your network, data systems, and infrastructure. Given the growing threat of cyberattacks, regular assessments can help identify weaknesses before they’re exploited. Similar to how financial audits examine how well a company can weather a downturn, a technology assessment ensures that a company can recover quickly in the event of a cyber attack, hardware failure, or other tech-related disaster.  A key component of a technology assessment is evaluating disaster recovery plans, data backups, and system redundancy. Just as financial audits look for waste or inefficiencies in spending, a technology assessment can uncover redundant tools, processes, or systems that could be streamlined or replaced and can help identify areas where the company is overspending on technology services, licenses, or subscriptions, and suggest more cost-effective solutions. In short, technology isn’t a secondary concern anymore—it’s woven into the very fabric of how modern businesses operate and compete. The risks of failing to regularly assess and improve your technology is just as severe as failing to properly audit your finances.