Being a chief data officer is not what it was — and that is factor. CIOs as we speak have a bigger remit that goes far past know-how priorities, into tasks that ship in opposition to vital enterprise metrics. The know-how technique has change into the enterprise technique. So, it is no shock that 40% of CEOs say that the CIO is their prime accomplice, in accordance with a current Deloitte survey.
As CIOs tackle this advanced function of their organizations, they need to additionally advance their considering. Listed below are three vital areas CIOs should preserve prime of thoughts to thrive within the subsequent yr and past:
1. Create enterprise worth sooner
Till very lately, know-how was largely seen as an enabler. Whereas the worth of know-how has by no means been doubtful, for a very long time, organizations struggled to reveal it in phrases that enterprise companions understood — like income, margin, and buyer NPS.
That is altering. Right now, sparked by the COVID-19 pandemic and the numerous different disruptions over the previous few years, extra organizations perceive the connection between digital transformation and worth creation. Reflecting this shift, 95% of CEOs are pursuing a digital-first technique. The info exhibits why. Digital-first firms see twice the income progress of non-digital firms, in accordance with analyst agency Valoir Analysis.
For CIOs, these adjustments, whereas invigorating, should be targeted on investments in applied sciences that ship enterprise outcomes sooner. This requires cautious monitoring in opposition to general enterprise targets and taking accountability for outcomes.
2. Foster worker expertise and buyer progress
Right now, everyone seems to be within the service enterprise. Sure, that features CIOs.
As distant and hybrid work turned the norm, the worker expertise has gone digital. From interviewing and onboarding to collaboration and studying and growth — know-how has change into the glue holding organizations collectively. Given the CIO’s accountability in shaping the technique behind the instruments their groups depend on, it is clear that they play a central function in each defining that worker expertise and making a expertise benefit for his or her organizations.
Past harnessing prime expertise, worker expertise additionally has a direct impression on the shopper expertise, which has change into core to organizations’ means to draw and retain prospects. With extra companies declaring that buyer expertise is now their group’s main aggressive benefit, the onus is on CIOs to make sure that they’re making the precise know-how choices to equip staff to ship the experiences prospects need.
3. Drive innovation via automation
This can be a difficult second for companies in every single place. Internally, organizations reside via a time of immense complexity, requiring disparate groups and staff to work collectively in new, collaboration-first methods. The exterior atmosphere is equally fraught: Excessive inflation, constrained provide chains, expertise shortages, and hybrid work have all pushed organizations to extend scrutiny on their operations. The present enterprise panorama is creating unimaginable demand for web new improvements that may clear up these unprecedented challenges. CIOs are in a singular place to leverage know-how to extend innovation energy inside their organizations.
One key space they need to be is automation. Contemplate the function that automation can play in serving to organizations wring extra effectivity out of their current inside assets. For instance, operations groups are consistently flooded with buyer and worker requests. By automating massive parts of those processes, reminiscent of providing self-service instruments for frequent duties, organizations can serve their prospects higher and unencumber their groups to concentrate on extra strategic components of the enterprise that may drive progress.
Automation’s distinctive means to attach trendy, legacy, or unstructured knowledge sources, may also help organizations cut back complexity, enhance resilience, and speed up innovation. In reality, the 2022 JP Morgan CIO Survey discovered that CIOs have been planning to speed up IT purchases and digital transformation to drive effectivity, take away tech debt, and make investments for the long run.
The CIO’s Second to Shine
Over the previous yr, experimentation has taken a backseat. As organizations navigate as we speak’s advanced macro atmosphere, they should focus their investments on applied sciences that ship enterprise outcomes sooner. The CIO performs a big function in main via this shift.