Right now, CIOs may feel obligated to work solely on immediate concerns rather than devoting time and effort to working with finance and the business to create a shared understanding of how to understand and measure technology investments.
However, this is an opportune moment for CIOs to focus on true value creation for their enterprises. By industrializing their approach to technology value they can define enterprise value metrics, drive more transparency around technology spending, and then use that transparency to make informed decisions on when and where to reduce, redistribute and expand technology investment.
Based on our experience with companies that are looking for ways to increase transparency in their organization using technology value components, we’ve identified five areas that CIOs should focus on now to drive value for their business in the next six to 24 months.
The technology value approach outlined in the report will help CIOs to cohesively respond to these challenges. They can also choose to tackle these individual initiatives using the selected tactics identified in the report.