CIO OPINION
Digital and business transformation are critical , which in turn shines a spotlight on technology and underscores the role of IT as a strategic business enabler .
Dr Alexander Becker , Chief Operating Officer , Serviceware
It ’ s time for a change of CIO mindset
Dr Alexander Becker , Chief Operating Officer , Serviceware , stresses the importance of increasing focus on collaboration between the CIO and CFO for empowering organisations and how adopting finance management solutions in a holistic and data-driven way means innovation can be the answer to enterprise demands .
The value of data and analytics to business success is already well established : from global post-pandemic recovery to the threat of recession , the business playing field has changed rapidly and intensified the need to optimise operational costs while also innovating and building for the future .
CIOs are reporting issues in mapping IT financial performance metrics onto business-level KPIs and outcomes , but are living with the consequences for now . This is problematic for many businesses and while for many the decision is to address this later on , this can have a significant impact in the long-term .
It ’ s no secret that the pace of change has been accelerating relentlessly on both the business demand and IT service delivery sides of the equation . At the same time , activity has become more diverse and fragmented as business units – and even individual users – have sought IT solutions finely tuned to their needs . The resulting increase in speed and complexity has unsurprisingly led to a range of ITFM-related challenges . According to a recent study conducted by CIO WaterCooler , more than two-in-five ( 44 %)
With rising costs and fewer resources , now is the time for businesses to ensure that they are managing IT costs effectively – not just in terms of cutting , but also optimising , investments and reinvesting in the tools and technologies that can and will enable them to drive the wider business strategy . In our current – extraordinary – times , it is hard to overstate the benefits of data acquisition and management across the enterprise and the application of that insight to all business decisions .
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