IT needs to be working hard to transform from a cost center to a value center by demystifying the IT investment puzzle, developing and presenting the measurable IT-driven business value.
Multiplying: Information is abundant and technology is pervasive and business initiatives and change efforts today perhaps always involve some form of data analysis or technology implementation. Forward-looking companies expect their IT leaders to share the technical vision and run IT as a digital force multiplier to accelerate business growth and catalyze innovation along the journey of digital transformation. CIOs need to make sure that the executive teams understand what IT can do to drive future business growth and revenue generation. Running IT as a digital multiplier is not just about playing some latest technology gadgets, following trendy practices, or talking about innovation as a lip service; it has to shape the digital mindset and build differentiated business capabilities and capacities behind business transformation. It starts with the IT leader’s mentality as the strategic business executive first, and then, they can run IT as the business inside the business and digital force multiplier of the entire company. Leading companies run IT as an information force multiplier to move up their information management maturity from understanding “what happened” to “why did it happen” - dig into the root cause to what will happen - capture the trend, with the goal to run a highly responsive organization. IT as a multiplier will also enable operational excellence, business agility, new services/products delivery, workforce innovation, and customer experience optimization.
Intensifying: With the increasing pace of changes and continuous disruptions, the digital strategy execution becomes so dynamic and intensive. Innovation is intensified via complexity syndromes and the cause-effect scenario. Innovation is the most wanted change. With the exponential growth of information and continuous disruptions, the challenges will only intensify. Strategy Management and Change Management often need to go hand in hand. Either individually or at the team member, the key factor to the digital paradigm shift has been the endless self-exploration, self-managing, and self-renewal in intellectual, emotional, material, or spiritual dimensions that need to co-evolve together. Digital information technologies can be very helpful in strategic analysis and handle strategy execution intensity in a structural way. In fact, information is one of the most intensive pieces of digital transformation puzzle. Thus, a healthy cycle of information management enables real-time information flow, access, and analysis so that the information value will become readily apparent and quantifiable by association, with the goal to intensify positive changes permissively, solve critical business issues smoothly, communicate extensively, deliver visible business benefits tangibly and achieve the high-performance business outcome seamlessly.
Maximizing: Due to the pervasive technology and information penetration, businesses today not just use IT a digital extension, but leverage IT across the company to maximize the business value. To maximize IT value, besides financial ROIs, it’s also important to evaluate the overall business value from IT investment, such as quality, performance, customer satisfaction, and the varying matters that stakeholders consider important to them. it is important to leverage this knowledge to uncover hidden value, not only within IT but benefit the entire organization. To maximize IT-driven business value, IT and business have to speak the common language and communicate empathetically for improving the growth capacity and maturity of the business and rebrand IT as the trustful business partner. IT leaders need to become both business strategist and IT practitioner, always think in terms of the value-add to the business, running IT and evaluating IT performance from outside-in business and customer lens, leveraging unique IT knowledge and capability to build business competence, and maximizing IT by enabling capability-enabled strategy execution, adapting to changes proactively and doing more with innovation.
IT needs to be working hard to transform from a cost center to a value center by demystifying the IT investment puzzle, developing and presenting the measurable IT-driven business value. CIOs have to set business principles, identify and blend business processes and practices that information and technology can assist and shape the business by linking all critical digital aspects together to develop dynamic business competency, enforce the value creation and drive digital transformation via multiplying, intensifying, and maximizing.
Intensifying: With the increasing pace of changes and continuous disruptions, the digital strategy execution becomes so dynamic and intensive. Innovation is intensified via complexity syndromes and the cause-effect scenario. Innovation is the most wanted change. With the exponential growth of information and continuous disruptions, the challenges will only intensify. Strategy Management and Change Management often need to go hand in hand. Either individually or at the team member, the key factor to the digital paradigm shift has been the endless self-exploration, self-managing, and self-renewal in intellectual, emotional, material, or spiritual dimensions that need to co-evolve together. Digital information technologies can be very helpful in strategic analysis and handle strategy execution intensity in a structural way. In fact, information is one of the most intensive pieces of digital transformation puzzle. Thus, a healthy cycle of information management enables real-time information flow, access, and analysis so that the information value will become readily apparent and quantifiable by association, with the goal to intensify positive changes permissively, solve critical business issues smoothly, communicate extensively, deliver visible business benefits tangibly and achieve the high-performance business outcome seamlessly.
IT needs to be working hard to transform from a cost center to a value center by demystifying the IT investment puzzle, developing and presenting the measurable IT-driven business value. CIOs have to set business principles, identify and blend business processes and practices that information and technology can assist and shape the business by linking all critical digital aspects together to develop dynamic business competency, enforce the value creation and drive digital transformation via multiplying, intensifying, and maximizing.
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