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CIO leadership required in new world of connected product development

This is the time for the CIO to impact the return on product development investments, corporate growth, and profitability.

Overview

Substantial sums of money are involved with product development. This is the life blood of most companies, and to have successful and efficient processes takes substantial resources.

Product development, regardless of industry, has traditionally been a process area isolated from the CIO's world. Only in the final stage of a new product's launch is the CIO "connected" to the enterprise's back-office systems to enable sales, fulfillment and service activities. This late connection has rendered the CIO a passive participant in most product development processes.

Over the last few years, however, a new generation of products requires a greater reliance on enterprise systems to fully function. To improve time-to-market, profitability and quality of new products, tighter integration is needed. The CIO is becoming a crucial and active participant in product development success.

"In fact, among the 2,000 largest global public companies, product development spending exceeds $700 billion, according to Accenture research and analysis."

FINAL THOUGHTS

Designing, developing, launching and sustaining software-driven connected products requires substantial adjustments to product development and enterprise processes as well as systems and data management. This necessitates a change in the CIO's role to effectively support product engineering teams developing these products.

CIOs can best lead their organizations to capitalize on the three trends by:

  • Engaging with product development teams from concept through deployment, avoiding a last-minute "connection" event during a product's deployment;

  • Enabling product engineers with robust ALM tools and DevOps capabilities connected to PLM thereby freeing engineers to focus on innovation; and

  • Taking a leadership role in architecting and delivering secure, scalable and operable back-office systems that support Everything-as-a-Service models and IoT products.

This is the time for the CIO to step up and become a key member of the product development process contributing directly and impacting the return on product development investments, corporate growth, and profitability.

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