Transformation. Innovation. Modernization. Whatever you call it, digital technology like cloud, artificial intelligence and analytics — along with new ways of working — are the engine for enterprise change. With digital now a shared responsibility among chief information officers (CIOs), chief technology officers (CTOs) and their peers in finance, operations and other functions and business lines, things aren’t always straightforward.
With the recent growth of Pittsburgh’s technology landscape reinventing the iconic steel town into an innovation hub, many of its area tech leaders may also be considering what the right approach to maximizing value is — when do you charge ahead and when do you build consensus?
To understand how companies are faring in the new reality, we look to our latest Digital IQ Survey, which for more than a decade has examined the strategies, attitudes and relationships of business and technology leaders. In the second quarter of 2021, we surveyed more than 1,250 global executives and found that CIOs and their business partners don’t always see eye to eye. But at the companies where they are in sync — what we refer to as digital IQ leaders — there’s a greater payoff.
No surprise, here: Digital transformation has ramped up …
… but executives aren’t always on the same page
Business and IT executives often prioritize different things. This disconnect can make it challenging to realize value. A disjointed strategy can put leaders at cross-purposes, effectively keeping the business stuck in place. When asked about desired outcomes from digital investments over the last 12 months, both IT and business leaders say they have been focused on survival and efficiency. But beyond that, business leaders are looking to change their core business model while tech leaders prioritize modernization.
Better together: Digital goals that IT and business agree on
We identified a small group of IT executives (representing about one-fifth of all tech execs in our survey) who see eye to eye with their business peers. Dominating their digital agenda — both today and two years from now — is modernizing the brand or pursuing initiatives that increase speed and efficiency.
These leaders didn’t let the events of 2020 derail transformation. Instead, they pushed forward and, at times, with an increasing velocity. That has meant technology is more important than ever, as a foundational catalyst in mobilizing that change and transformation.
What are three ways to become a digital leader?
1. Start with developing a value story. Align on the promise of cloud with your business stakeholders. Make it a priority to revisit this promise as your organization evolves and progresses.
2. Embrace new mental models. Shift how you work and how quickly you can deliver new experiences. Be open to novel ways to upskill, acquire and incentivize cloud talent.
3. Team strategically. Engage across various stakeholders early so security, compliance and governance are embedded in transformation and R&D tax credits are leveraged.
How else can tech and business leaders align on strategy choices and value? See the full survey infographic here and to learn more on the steps you can take to become a digital leader.
