New companies are built on modern technology platforms, meaning agility and flexibility are built-in from the outset. Although experience and heritage in business can be very valuable in driving future success, it can also be considered a drawback when seeking to drive digital transformation.
Now is the time for CIOs to prepare themselves for a modern way of working, here are a few ways they can do so:
INNOVATION HAS TO BE STRATEGIC
Today, 51% of CIOs struggle to respond to digital opportunities in a timely way as Gartner has cited in its recent report. It appears to be true that inability to innovate is a real driver for IT modernisation.
There are triggers that can force the fear of innovation to change and free up more resource to fuel innovation.
An example of a potential trigger is development in legislation. This can potentially ask for more from IT than it can adequately deliver. With regards to security protocols around biometric banking authentication as an example, it’s foreseeable that big advance in what IT needs to support could render a legacy product obsolete and accelerate the need for innovation.
The ‘how best to accommodate innovation problem’ has been hindered by the need to ‘keep the lights on’.
Another trigger to consider is top-down pressure on CIOs to contribute to business strategy. Having them proactively add to the bottom line instead of solely concentrating on performing the traditional reactive Head of IT role of managing and maintaining. In the insurance sector, this may mean aligning IT development to strategies that will enable the selling of more policies.
KEEP UP WITH TRENDS
Technology is constantly evolving, meaning there’s no sense that modernisation ever really stops. Instead, the key is to always do just enough to at least keep up with trends and competitors if not, stay ahead of them.
Either way, in a business environment where CIOs are constantly asked to reduce the budget and drive innovation, it’s essential to introduce an approach to IT modernisation that rationally assesses core IT, understands what’s essential to keeping the lights on and allows for innovation according to strategy.
All it takes is the courage to start. For more information on how your business can be modernised, do not hesitate to contact us.
