Information technology generates almost infinite business opportunities. But this sea of possibilities can quickly become worrying for companies that are not already at the forefront of technological advances. This is an exciting yet also concerning situation for business leaders.
In fact, almost half admit they do not know what their industry will look like in three years and are afraid of becoming obsolete within the next 3 to 5 years. More disconcerting, 3/4 of managers feel threatened by digital startups.¹
This high level of uncertainty is symptomatic of many concerns related to technological change. Among those:
• Changing customer expectations;
• The ability to gain and maintain customer confidence;
• Loss of current market shares;
• The ability to reach new markets;
• The required acceleration in time to market;
• Costs associated with market entry;
• Infrastructure obsolescence;
• Fast pace of technological advances
In fact, these concerns reflect three major challenges faced by businesses that operate with a more traditional IT.
The lack of time devoted to the development of new services leads to a second challenge: the inability to meet the new demands of the business world. Application life cycles measured in months or even years and compartmentalized infrastructures deprive managers of an overview of their technological performance. A discrepancy that too often affects the customer experience in a world that nevertheless requires constant availability.
The IT leader of a company is the best person to implement these types of solutions and to lead a successful digital transformation. His deep understanding of the current state of technology, his ability to anticipate new developments and his familiarity with current business processes make him the ideal ally to support the digital decisions of management. A well-informed CIO will ensure that its company remains an IT leader by:
This helps to highlight and encourage best practices, accelerate the development of solutions and pass them on to the rest of the company.
With the complexity of the challenges that companies face, IT leaders are at the forefront, as technology is at the heart of the transformations required to adapt. Of course, these leaders must be able to develop a deep and strategic understanding of the issues, but they must also surround themselves with the appropriate resources, internal or external, to meet these challenges and lead the business to the next level of maturity.
The right use of technology addresses business challenges and drives business growth in all areas of an enterprise. We hope this blog will offer insight into developing strategies and tactics to enable you to identify those key drivers of growth and keep pace with and anticipate the rapid technology change of today.