Given the pace at which information technology innovation is disrupting industries globally, it’s not surprising that most CEOs feel under pressure to find and deploy the right technology as fast as their budgets will allow. CEOs must lead the change and not just follow it. What are some of the specific concerns regarding IT transformation and investments in IT solutions? As with all other issues, there are a few common IT management problems that can be addressed by employing CEO best practices.
Hire the right people
Hiring the right person for IT management is crucial. But you must also keep in mind that someone who may not be perfect right now can grow into the position. Holding out to find the ideal candidate might be detrimental to your business, which will be without this key role player in the short term – it could also mean missing out on a candidate who will excel. Remember that they don’t necessarily have to know your specific ERP platform or industry inside out. It is important that they can interact with the executive team and the technical group equally well, that they have communication skills, can lead change, resolve problems and be flexible.
Keep up with technology
A CEO has to have a knowledge of technology, be proactive and think about how it can be used in their industry. It’s also part of their job to think about how they will incorporate these new tools. Don’t be one of those businesses that only addresses technology when they are faced with tech-savvy competitors. A few ways in which you can keep up with the latest developments in technology include holding meetings with your CIO, and seeking out executive or CEO peer groups where it is given priority. You could also consider using the services of analyst firms, attending vendor events and subscribing to industry newsletters. Ultimately your CIO is key in ensuring that you are kept in the loop and that your innovation is passed onto other members of the team.
Put strategic plans in place
It stands to reason that having a business and an IT strategy is essential. But many businesses think that having general goals for reducing costs and increasing revenue and customer satisfaction are sufficient. But these drivers require specific strategies for them to be successful. You need to be clear on how each part of the organisation works to achieve these aims to communicate this to them.
Create an innovative environment
An environment where new ideas are encouraged is beneficial, no matter what industry you work in. Having brainstorming events is a good way to do this, but innovation and creative thinking should ideally be present in the company culture. Encourage employees to take chances and employ lateral thinking. Empowering your people to think differently will ultimately set you apart from other businesses in your sector. Existing systems will be replaced whether you are on board or not, but you can ensure you put yourself in the best position by using digital transformation to your advantage.
Benchmark reports in the industry
Use benchmarking reports produced by Gartner, Forrester, and other research groups. These reports will provide an insight into benchmarking IT costs and also help you to find up-to-date info on the latest research and thought leadership in the IT industry.
CEOs constantly have to make decisions on where best to invest capital and take into account how their industry is affected by the latest developments. But investment in IT transformation must take priority to ensure that they keep up with a rapidly changing world.
Request a meeting with one of our experts to talk about IT transformation and how we can help you use technology to your best advantage.