Why is it crucial for SMBs to invest in creating “tech equity”? And what does it really mean?

These are key questions answered by author Michael C. Fillios from IT ALLY Institute in his latest book “Tech Equity: How to Future Ready Your Small Business and Outperform Your Competition.” The just-launched book is a timely follow-up to the concepts and strategies revealed in his first publication, “Tech Debt 2.0.”

The term “equity” is used here in its financial sense. As Fillios says, like a stock that pays dividends, SMBs that build tech equity not only reap higher returns and a more appealing balance sheet andbut also enjoy benefits such as better talent retention, a heightened focus on customer experience, and a better understanding of the company.

His previous book, “Tech Debt 2.0,” dealt with how “tech debt” accumulates over time and is a liability that detracts from a company’s overall value and is a source of risk. Fillios says that tech equity is the opposite; it is an asset comprising key components of a company’s technology portfolio that adds value.

Writing from the perspective of small and medium-sized businesses (SMBs) against the backdrop of the global pandemic, Fillios explains why now, more than ever, it is critical to shift from the defensive maintenance of technical debt, go on offense, and lead the charge toward building tech equity.

"I coined ‘tech equity’ as a term to describe an asset that consists of the value key technology components add to a business," says Fillios, who founded IT Ally and IT Ally Institute. “SMBs that invest in building tech equity are better positioned to navigate crises, take advantage of opportunities, and outperform the competition,” he adds.

So, why should you pick up this book? For starters, the author draws on more than 25 years of experience in business, finance, and IT leadership. The book is written from the perspective of small and medium-sized businesses (SMBs), keeping in mind the devastating effects of the global pandemic. It includes multiple real-world case studies demonstrating tech equity in action, as companies compete for survival and search for new opportunities.

Complete with strategies and tools for building, diagnosing, and measuring tech equity, SMB leaders will find Michael Fillios’ latest publication an invaluable resource for understanding the importance of tech equity and its crucial role as they future ready their businesses.

To get your copy of "Tech Equity: How to Future Ready Your Small Business and Outperform Your Competition," visit Amazon and Bookbaby.