Top Six Ways CEOs Are Leveraging Technology to Succeed
September 27, 2018
Over the past several years, we’ve observed innovations in technology that have drastically changed the way businesses compete. As technology becomes immersed in every layer of business, it’s imperative that CEOs are creating tight alignment between technology and business. Often, the biggest question mark for CEOs it how much they’re spending on IT and where to allocate those funds to increase profitability.
The Tech Insights Report, backed by BDO Digital's experience, reveals six predominant ways companies are successfully using technology to innovate and grow.
- Business/IT Alignment
IT professionals who are able to speak the same language as the business are in a unique position to drive change across the entire organization. However, in order to achieve better business outcomes, CEOs must invite IT into company-wide objectives so they can better align technology investments with the things that will ultimately drive business growth and innovation.
- Transform Workforce Productivity
The massive impact of technology on business today means CEOs need to make greater investments in IT to gain operational efficiency and reduce risk wherever possible. However, increasing corporate speed, agility, and ROI are no longer just about capitalizing on isolated technology trends. True transformation requires an immersive strategy across multiple layers of digital, including people, process, platform, and protection.
- Accelerate Cloud Migration
Cloud solutions allow companies to move quickly, scale immediately, and realize significant savings. As organizations try to capitalize on the benefits of the cloud, they’ll inevitably need to acquire more digital experts to devise a clear, staged approach to their cloud migration strategy. And the sooner midmarket organizations can seize on those opportunities, the more likely they are to avoid disruption from market newcomers or faster innovation from existing rivals.
- Make Security a Company-Wide Initiative
Business leaders need to shift their mindset from thinking of cybersecurity as just another “IT problem” to placing it at the top of the company-wide priority list. Once again, this is where the importance of business and IT alignment is paramount. IT needs to move beyond the checklist of security controls when communicating security gaps. Equally important, the CEO needs to let IT in on organization-wide priorities and plans so they can proactively safeguard the most important assets before it’s too late.
- Improve Data-Driven Decision-Making
New innovative solutions are making it easier than ever for non-technical teams to access, scale, and analyze data in the cloud. While midsize companies have been slow to adopt more advanced analytics solutions, it is our strong belief that the use of real-time analytics is how leading companies will stay ahead and build competitive advantage over the next few years.
- Don’t Forget About Your People
Gone are the days where deploying a technology solution is the last step to a successful IT project. Ensuring your users are leveraging the solution to their full potential, and the business is realizing the actual return on their technology investment, is the new measurement of success. As the movement towards outsourcing picks up speed, companies should be looking for partners who can deliver not only the technical capabilities but also the change management strategies needed to enable a company’s most valuable asset – its people – in a digital business environment where change is constant.
While digital transformation is not a new concept, for many midsize organizations, the journey is just getting started. The good news is that you don’t have to go at it alone. Partnering with a holistic service provider like BDO Digital can provide your company with the full stack of skills and experiences to survive and thrive in today’s technology-driven world.