The impact of information technology on customer experience has significantly changed the roles and responsibilities of CIOs in the digital landscape.
FREMONT, CA: The business landscape is continuously changing, and the main factors fueling the change include the increasing competition, evolving consumer needs, and changing technology. It has become imperative for organizations to adapt to the demands and constraints in the market.
How you apply technology to enhance the different processes decides the capability of the organization to compete in the digital world. As such, the role of CIOs in organizational growth is of paramount importance. To ensure business growth, they should be quick in recognizing the slightest changes in the market and respond to it appropriately.
The Evolving IT Sector
The lack of agility and flexibility in the IT often hinders the ability of organizations to deal with change. Hence, it often falls upon the CIO to accommodate relevant technological changes and prepare the organizations for any ups and downs in the market. In the modern world, the functions of the CIO are no longer limited to the IT dimension. They occupy a more strategic position in driving business toward digital transformation.
Organizations are becoming increasingly dependent on cutting edge technologies to connect effectively with their customers, suppliers, and employers and succeed in the marketplace. Digitization is a crucial component of the organizational business model which has seeped its way into supply chains and operations, marketing and sales, and customer interactions. Ignoring technological trends can potentially bring a business to the ground.
IT Enters the Board Room
The rapid advances in technology and its impact on customers has made IT one of the essential topics in the board room, making its integration into the organizational strategy imperative. It falls upon the CIO to govern IT in such a way that it bolsters the objectives of the business.
It is imperative for CIOs to change with the business landscape to remain relevant, continuously acquiring new personal and professional skills. The key findings from a recent Forbes Insight report based on the survey conducted on 410 CIOs are given below.
• In the last few years, the CIOs have witnessed their roles evolve from having the technical expertise to contributing to the corporate strategy.
• Most CIOs claim that their position in the organization has gained more importance over the last few years.
• The must have personal qualities essential for a CIO include leadership, communication, collaboration, and partnership.
• The CIOs believe that lack of technical expertise, use of tactics instead of strategy, and lack of vision leads to failure.
• More than half of the CIO share consensus regarding the chances of CIO becoming the CEO, mainly owing to the evolving technological trends.
• The role of CIOs is steadily increasing when it comes to the formulation of customer-facing solutions, creation of global capabilities, development of revenue-earning opportunities, and innovation.
• The role of CIO is becoming more complex, as they have to deal with a host of new challenges, ranging from the diffusion of IT responsibility to the consolidation of organizational silos.
As organizations are investing more and more in digital technology, CIOs are gaining a more prominent role in the management process. The incorporation of digital technology in every process of the organization is generating a demand for technical expertise and leadership. It has spurred CIOs to evolve, adapting their personal and professional skills to align with the requirements of the current business environment.
Technological know-how is not sufficient for the CIOs of today. As such, CIOs need to enhance their strategic expertise and facilitate excellent customer experience to succeed in the digital landscape. Along with adapting professional skills, they will also have to reassess their personal skills, evolving from domain experts to enterprise leaders.