The IT team of any corporation can be considered playing a vital role as a business growth enabler with respect to the revenues. However, but the IT team has been failing to promote business growth. A new survey by Economist Intelligence Unit and Juniper Networks suggest it is the strategic transformation in departments that the IT companies are lagging in. This comes as a result of investing more resources on the business units to make their processes more efficient.
Bask Iyer, CIO of Juniper said “Businesses today are primarily looking at IT to save money for organizational efficiency”. The thriving companies usually work closely with IT for the development of new products. If a company is performing well, it would only mean it is clearly seeing the benefits.
This leads to cases where most of the IT companies do more work with fewer resources available. To attain this, companies try to fill in the gaps of inefficiency through incremental improvements that may include server elimination rounds, data center consolidation, off shoring, and disk management.
But in companies which come up with exceptional performance or report higher financial performance, IT can be seen in a different dimension.
The better performing companies believe technology plays a very vital role in an organization’s financial performance. On other hand, few companies strongly agree that the IT team can support business growth to a certain extent, which can be attained through the identification of new market opportunities. Very few market players believe that IT function plays a major role in helping develop new products or is a strategic business growth enabler.
Steps to transform business growth
However, there are several steps that companies can follow to improve the processes and coordinate IT with business. The first and the major step has to be the partnership between IT and businesses in order to develop innovative products and identify new market opportunities. Together, they can help transform and deliver growth and productivity.
When the annual planning processes at companies roll around, it is the leaders of the business units who defend new IT projects rather than the CIO. This as a result will benefit the business units.
In addition, businesses should also strive to involve more of Research and Development processes at the beginning, where processes can be streamlined right from the start. Rather streamlining workflow and other processes after an organizational setup would be a bad idea for startup companies.
IT team as an effective business growth enabler needs to focus on adopting disruptive technologies like big data and cloud that help extend business growth and create a valuable opportunity for IT to try and implement more innovative strategies.