May 13, 2025 - We polled 1,000 senior leaders of privately held companies spanning industry sectors across the nation to take stock of actions, concerns, and challenges in key areas including tech improvements and investments for the technology industry. Our 2025 Private Company Performance Report sheds light on the growth trends and challenges reported by our survey respondents. Our survey revealed that companies that invest time and resources into thoughtful strategic planning for technology initiatives are better equipped to reap long-term benefits, minimize risks, and optimize ROI.

The Importance of Planning

One of the key reasons why upfront planning is essential is to ensure that technology investments align with a company’s broader business objectives. Too often, companies rush into technology projects without fully understanding how these tools will contribute to their strategic goals. This misalignment can lead to wasted resources, underutilized systems, and missed opportunities. By investing time early on clearly defined objectives of a technology initiative, companies can ensure they are choosing the right tools that will provide measurable and long-term value.

In fact, our survey found that 72% of respondents plan to invest more in upfront planning services and place greater emphasis on training and end-user participation — further underscoring how critical the early phases of a technology initiative are to long-term success.

From a financial perspective, planning upfront allows companies to create more accurate budgets. Without a clear plan, it’s easy for costs to spiral out of control, with unexpected expenses related to implementation, training, or system maintenance. Detailed upfront planning provides the opportunity to forecast both short-term and long-term costs, ensuring businesses are fully prepared for the financial commitment required for successful technology adoption.

Moreover, upfront planning helps mitigate risks associated with technology investments. Every technology implementation carries inherent risks, such as integration challenges, data security concerns, and potential operational disruptions. By anticipating these risks early, businesses can put in place necessary safeguards, allocate appropriate resources for risk management, and ensure smooth transitions.

Investing in upfront planning for technology initiatives is crucial for a company’s future.

To fully leverage the potential of technology investments, businesses must approach these projects with careful planning, aligning technology with business objectives, managing costs and risks, and preparing for future scalability. By dedicating time to thoughtful planning, companies position themselves for success, ensuring that technology fosters sustainable growth and delivers measurable returns.

Citrin Cooperman’s Private Company Performance Report

Citrin Cooperman has been serving and advising middle-market, private companies and high net worth individuals for over 40 years and created an annual Private Company Performance Report to discuss what is top of mind for business leaders across the country. Access our report to discover valuable insights into the trends, opportunities, and challenges facing businesses today.

Access the 2025 Private Company Performance Report