Most CEOs and COOs spend their days trying to increase revenue and market share, while most CFOs spend their time optimizing their company’s balance sheet and ensuring that accounting is handled correctly.
None of these top executives have the time or the background to focus their efforts on IT, even though all of them need it in order to achieve their goals. Without the context and knowledge of what is possible and what the paths to innovation should be, it is difficult for business executives to set, or even to push for, a vision for the full impact of technology.
The bar is also set too low by IT leaders
There is a misconception within many corporations that IT is merely backup and tech support for other departments. CIOs are often disincentivized to go beyond operating their platforms reliably, securely, and affordably, since anything else they put into the budget appears to raise costs.
Within this state of affairs, the bar for CIOs definition of “success” is far too low. Operating systems securely and reliably is good of course, but insufficient; stopping at this point keeps IT in a limited role of “support staff”. Merely supporting existing technologies is not enough in today’s market, since there are advancements rolling out every day that can help corporations do more with greater efficiency.
New technologies bring new capabilities within economic feasibility
New technologies such as AI, RPA, and augmented and virtual reality are enabling IT to impact their company’s revenues and market share. They enable not just traditional IT cost savings for margin & the bottom line, but a real impact on the top line as well.
Companies that adopt a wider view of the potential for IT can benefit from these new capabilities and leap ahead of their competitors whose IT groups are focused on “keeping the lights on.” We aim to change the perception that putting more money into IT is wasteful, and rather see it as an opportunity to gain an advantage for your company.
Innovation consultants can help organizations raise the bar for a greater IT vision
Because this approach to IT is quite different than the traditional approach, engaging an expert consultant is key to ensuring investments are made wisely and with a true ROI perspective. Outside consulting brings a wider view of what is possible and what would be impactful for an organization, to increase revenue and market share through the use of technology.
Whether Innovation Vista or another consulting firm, we encourage companies to leverage outside expertise for these insights, and to raise the bar for IT and Innovation.