According to Oracle CEO Mark Hurd, CIO’s have the toughest job among all the people. They often find their priorities split between the opposing ends. On one side, they must maintain the legacy systems and existing services that have formed the backbone of traditional IT. On the other hand, they need money to invest in real-time, data-driven, customer centric initiatives that drive the new technology initiatives. Few examples include – Uber and the disruption of the traditional cab service while Amazon not only dismantled the retail book-store but learnt enough from its e-Commerce business to launch a multi-billion dollar cloud spin-off.
CIO’s should lead by examples and have an incredible opportunity to play leading roles in the digital transformation of the company. These are challenging times for the CIO as they need to embrace new technologies at a unique space and time. The top 10 strategic issues faced by CIO are –
Create New Revenue Streams – Digitization of our everyday lives have opened up new exciting possibilities in products, services, and other innovations that enhance the customer experience. All these modalities create new revenue streams for the company.
Create a New Can Do culture – CIO’s can now leverage cloud computing and social/media services to demonstrate their influence and importance to other business units. IT can be abbreviated as Innovation Transformation division.
Create dazzling and relevant new apps – CIO’s now need to transform their team thinking in-line with customer engagement. There focus now needs to center on building customer-centric apps – both for internal customers (employees) and external (customers, suppliers and partners).
Evangelize the business benefits of cloud computing – Cloud has become the go-to weapon for CIO’s for fostering growth capabilities. It can be used to scale the business efficiently, with less money compared to traditional IT infrastructure approach, customer trends can be spotted more quickly. The CIO should go all-out in his capacity to showcase these benefits to the company executives.
Evangelize the power of digital business – Digital capabilities in combination with traditional products and services can open up new possibilities for creating value to customers – new insights into which products are doing well, when and where to promote them.
Transform traditional ideas of “What We Do” – Wearable tech has completely changed the medical industry, digitally activated shelves have made their way into retail, intelligent sensors are used for preventive maintenance. CIO’s need to disrupt the traditional thinking by showcasing what is possible.
Transform customer engagement- Many times companies are oblivious to the actual needs of their clients. Take for example airlines – high fliers want zero human interaction until they are actually on a plane. CIO’s must help in bridging these gaps and drive customer-centric engagements.
Transform decision making from Gut level to Data driven – Huge volumes of customer data resides within the organization. These can be leveraged to enhance the decision-making ability of employees at all levels. CIO’s have an excellent opportunity to work with other business leaders in unlocking these data assets and put them to work for the benefit of the company.
Accelerate the reversal of the 80/20 Budget trap via cloud computing – Before cloud came into force, the number one headache for the CIO’s was the fact that 80% of IT budget was consumed by low-value maintenance and integration activities. Cloud shifts this onus onto the vendors and hence CIO’s can free up resources, budgets and focus on initiatives that drive value to internal and external customers.
Accelerate Deployment of world-class cyber security – The traditional IT model was a security nightmare as IT services were made up of hundreds of disparate components each running their own security protocol. CIO’s have the opportunity to reduce these hundreds of vulnerabilities to a single, unified cyber security.
We at MobiusLogic work with CXOs in solving the above-listed concerns. Email us firstname.lastname@example.org for more info or drop your comments below.