Forrester launched the concept of high-performance IT in Q1 of 2024. High-performance IT is the pursuit of continuously improving business results through technology. It rests on three principles. IT must: 1) continuously align with the business; 2) build trust on a foundation of security, privacy, and resilience; and 3) empower the business to readily adapt to changing market conditions and customer demand. Forrester’s 2024 Technology Strategy Impact Awards celebrate companies that have successfully embraced these three principles. This year, we honor two outstanding winners: First Student and Best Buy. Both companies have demonstrated exceptional alignment, adaptivity, and trust in their IT strategies, setting new benchmarks in their respective industries.
Introducing The Winners
First Student: A leader in student transportation services across North America, First Student operates over 46,000 vehicles, serving more than 19,000 schools across North America. Its innovative approach to integrating electric vehicles into its fleet highlights the company’s commitment to sustainability and technological advancement. Recognized as the school transportation Contractor of the Year by the National School Transportation Association, First Student’s high customer satisfaction scores and impressive revenue growth underscore its operational excellence.
Best Buy: The largest specialty consumer electronics retailer in North America, Best Buy operates more than 1,000 stores and has more than 85,000 employees in the United States and Canada. The company is leveraging artificial intelligence to enhance customer experiences and solve real human needs. Earlier this year, Best Buy implemented AI-powered chatbots and self-service tools for customers, showcasing its commitment to using innovative technologies to create better experiences for both its customers and employees.
Alignment: Strategic Integration Of IT And Business Goals
First Student’s IT organization exemplifies strategic alignment with broader business objectives through a multifaceted approach ensuring that technology initiatives are in lockstep with company goals. The establishment of an IT steering committee, regular portfolio reviews, and close collaboration with business units facilitate a dynamic alignment process, enabling rapid response to emerging challenges and opportunities. This comprehensive approach develops a culture of innovation, responsiveness, and continuous improvement. Similarly, Best Buy integrates digital, analytics, and technology into every aspect of its operations, and its mobile-first approach, powered by data and AI, enhances customer experience and drives sales growth. Advanced analytics and intelligent automation enable Best Buy to serve customers better and more efficiently, consistently delivering high performance.
Adaptivity: Rapid Response To Market Demands
First Student’s FirstAlt service is a bespoke digital solution for the specialized transportation needs of students with special needs, those experiencing homelessness, and others requiring tailored transit solutions. This initiative not only addresses a critical market gap but also showcases First Student’s adaptability and innovation in leveraging technology to enhance service delivery. The project’s success, marked by exceeding revenue projections and high customer satisfaction, also demonstrates the transformative power of technology in solving real-world challenges. At Best Buy, adaptivity is not just a strategy; it’s ingrained in the company’s culture, empowering associates by ensuring that the right expertise is always available to meet customers’ needs. Best Buy’s continuous learning initiatives, such as the Learning Network and on-the-job training, keep associates ahead of tech trends, and its commitment to rapid adaptation is evident in its sales success, enabling Best Buy to lead the industry while enriching the lives of its customers and employees.
Trust: Building A Foundation Of Security And Resilience
First Student’s core values, emphasizing safety, care, exceeding customer expectations, teamwork, and setting high standards, require high levels of trust that are the foundation of high performance. This strategic framework not only drives internal performance but also positions First Student as a leader in sustainable, efficient, and innovative student transportation solutions. Best Buy’s commitment to ethical operations and trust-building has been at the core of its success for more than 50 years. Its IT strategy prioritizes leadership, governance, cybersecurity, privacy, resilience, ethics, and risk management to effectively manage technology risks and fulfill commitments, and its security organization implements advanced protocols, regular audits, and transparent communication about data handling practices to ensure trust throughout the organization, facilitating successful and secure projects.
Learn More At Technology & Innovation Summit
Join us at our upcoming Technology & Innovation Summit North America in Austin, Texas, September 9–12, to celebrate the achievements of First Student and Best Buy and learn more about the strategies behind their success. Gain invaluable insights from their high-performance IT strategies and learn how you can apply these principles to your own organization. Don’t miss this opportunity to network with industry leaders, exchange ideas, and drive your IT performance to new heights.
