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While digital initiatives and talent are the board directors’ top strategic business priorities in 2023-2024, IT spending is forecasted to grow by only 2.4% The message to CIOs is to do more with less, and the implication is that CIOs must look at digitaltransformation initiatives differently than in years past.
Migration to the cloud, data valorization, and development of e-commerce are areas where rubber sole manufacturer Vibram has transformed its business as it opens up to new markets. It’s a change fundamentally based on digital capabilities.
Digitaltransformation is indeed a cornerstone of business strategy today, as 89% of enterprises see digitalbusiness as core to their growth, according to Gartner’s Board of Directors 2023 Survey. Data skills are also vital, says NCC Group’s Fox.
Once a vanguard business strategy, digitaltransformation has become a perennial objective for business survival. Digitaltransformation is the integration of digital technologies into all aspects of business operations.
Digitaltransformation represented among the largest investments in technology to modernize businesses starting in the early 2000s. With the rise of generative AI, CEOs recognize an opportunity to shift from technology-led digitaltransformation to executive-led business reformation.
Around the same time of the release, Repsol appointed Juan José Casado Quintero as its new chief digital officer (CDO), another strategic move to digitallytransform and accelerate the company’s strategy to become a data-driven company.
When he’s not immersed in cybersecurity, hybrid cloud strategy, or app modernization, David Reis, CIO at the University of Miami Health System and the Miller School of Medicine, spends his time working with the board of directors and top leadership to reimagine healthcare and take the lead driving digitaltransformation.
How does our AI strategy support our businessobjectives, and how do we measure its value? The time for experimentation and seeing what it can do was in 2023 and early 2024. I dont think anyone has any excuses going into 2025 not knowing broadly what these tools can do for them, Mason adds.
Years into digitaltransformation, and decades into the IT function itself, many CIOs still fall short when it comes to innovation. Indeed, 50% of C-suite execs surveyed for a 2023 report on digitaltransformation from fintech company Broadridge admitted they struggle to balance innovation with daily tasks.
Rick Boyce, CTO at AND Digital, underscores how a typical IT project mentality toward DevOps can undercut the CIO’s ability to deliver on businessobjectives. DevOps is about delivering value to the business faster and more reliably and is at the heart of digitaltransformation efforts.”
Indeed, according to the 2023 survey (September 2023), 71.1% Develop holistic metrics aligned with businessobjectives, integrating KPIs and OKRs into automated systems. He also helps organizations thrive with AI, data excellence, and strategic architecture in today’s digital landscape.
“We know what we’re trying to achieve, because we know the business goals and objectives,” We want to grow substantially, and we want to do that with speed,” says Bilker, whose clarity on IT’s businessobjectives mirror the top directives CEOs are giving their CIOs, according to the 2024 State of the CIO Study from Foundry, publisher of CIO.com.
Vendors, by making indistinguishable claims about digitaltransformation and process automation, suggest similar outcomes. Digitaltransformation cannot be achieved through purely tech-enabled, service-led approaches, with the promise to build autonomous enterprises with low code, flexible applications, etc.
In the past year, businesses who doubled down on digitaltransformation during the pandemic saw their efforts coming to fruition in the form of cost savings and more streamlined data management. Here are three key trends that will likely dominate the priorities of APAC’s business leaders in the coming year.
According to its 2023 research paper Total Enterprise Reinvention , “only 8% of companies are moving to adopt a strategy of Total Enterprise Reinvention.” Meanwhile, 86% are what Accenture deemed “transformers,” meaning they’re “transforming parts of their business rather than the whole. “Too
Chief transformation officer Perhaps the most logical of titles CIOs can assume is that of chief transformation officer, or chief digitaltransformation officer, given the leadership role CIOs took on to digitallytransform their organizations during the pandemic.
“Building new business aligned cost models, setting up disaster recovery and BCP platforms, allowing remote-working, rearchitecting the enterprise network from the ground up, and migrating to cloud should be some of the prime focus areas for CIOs as they set about their operations in the new-era.” CIO, DigitalTransformation
Indeed, according to Bloomberg, public cloud platforms, business services, and applications (SaaS) will all grow at a 9% CAGR (Compound Annual Growth Rate) between 2019 and 2023, and worth $60.36 The revolution is here, and it’s digital. We are in the age of digitaltransformation.
After lunch we hear from Matt Everson on the popular topic of Artificial Intelligence (AI) while he shares, “How to Modernize your DigitalBusiness with AI”. Attendees will leave with a better understanding of how to leverage AI to modernize their digitalbusiness and create new opportunities for growth. Register today!
She then led the digitaltransformation of Schneider Electric, a global Fortune 100 energy management company. Most recently, she has served as EVP and chief customer and technology officer at Ameren, which she joined 2018 as SVP and chief digital and information officer before adding customer experience and operations in 2023.
” Given the statistics—82% of surveyed respondents in a 2023 Statista study cited managing cloud spend as a significant challenge—it’s a legitimate concern. An examination of cloud capabilities and maturity is a key component of this digitaltransformation and cloud adoption presents tremendous upside.
For example, Subway IT has helped drive digital sales up 500% from 2019 to 2023, thanks to its work on Subway’s own digital channels as well as with third-party food delivery services, Herlihy says. 4 on the list of priorities cited by CIOs, after business process improvements, digitaltransformation, and modernization.
Meanwhile, Foundry found in its 2024 State of the CIO Study that 88% of CIOs said their role has become more digital and innovation focused, up from 85% in 2023. We pair IT and business together so everyone gets credit and feels like it’s a collaborative effort,” he adds.
Data is the lifeblood of modern business, the fuel that powers digitaltransformation, and every company should have a data strategy. CDO improves competitiveness According to Harvard Business Review , 41% of surveyed CDOs define their success by achieving businessobjectives.
The legacy IT infrastructure to run the business operations — mainly data centers — has a deadline to shift to cloud-based services. Agility, innovation, and time-to-value are the key differentiators cloud service providers (CSP) claim to help organizations speed up digitaltransformation projects and businessobjectives.
As CIOs prepare for the next wave of digitaltransformation, they must demonstrate shorter-term business impacts from technology investments and achieve larger innovation goals that evolve the organization’s business model.
The mission of aligning Cerealtos IT with businessobjectives is the ongoing responsibility of CIO Juan Manuel Garca Dujo. His mission, after all, has always been toturn tech into an enabler that drives businessobjectives, and never treat it as an end in itself. From ERP evolution to Industry 4.0
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