Business & CIO’s | How CIO is reforming the business models with Technology

Business & CIO’s | How CIO is reforming the business models with Technology

CIO’s responsibility, Reimagine & Reinvent the role of technology, Soft skills, Future opportunities, Business leader, initiatives that generate revenue

In 2010, with the emergence of cloud computing, wireless communications, big-data analytics, and mobile devices, CIO’s integrated the strategies and computer systems to keep business competitive in a fast-paced global market. The foremost responsibility of the CIO is to analyze how the different technologies can advantage an existing business process and then integrates a system to realize that benefit or improvement.

The technology is surging and updating with every cause and reason, the industries are also reshaping globally, so the need for CIO is reshaping with the times.

There are two major personal characteristics that are acquired in CIOs.,

  • Determination refers to the stability of decisiveness and in turn, decisions into actions, despite how tough they are.
  • Sensitivity is the quality of feeling empathy towards ones who are in difficult situations and act accordingly.

CIO’s are not limited by technology, they perpetuate organizational agility by introducing new strategies, applications, and technologies. For example, a new ERP system or electronic health record is asking people to change their behavior.

Technology comes in a central part in business operations which is driven majority by the customer’s behavior.

The CIO in the digital industry centers more on the leadership of digital transformation. The head of production and manufacturing is more likely to propel transformation efforts at automotive firms while in high-tech and telecommunications, it focuses more on digital business innovation than on current IT systems.

Before understanding the responsibilities of the CIO, it’s important to understand the nature of tech transformations themselves.

Features to consider in CIO’s responsibility:

Reimagine the role of technology:

This pointer includes the role of technology in business and innovation and designing as a tech-forward strategy. For example, tech-enabled products and business models. For example, tech management across different user experiences.

Reinvent technology:

Agility is crucial in IT which improves the IT services with next-generation capabilities such as end-to-end automation, platform as a service, and cloud, also building small teams around top engineers and also developing flexible tech partnerships.

Soft skills also matter than a technicality:

The vast majority of IT and business leaders are articulated that the skills which are needed in 10 years will be Soft Skills. Transparency is at the top-level for the emotional dexterity leadership competency, followed by authentic communications and collaboration.

Future opportunities :

To pace with the technological advancements, organizations have to flexible to implement the architecture supported by different platforms such as modular platforms, enable data ubiquity, and protect systems through advanced cybersecurity.

Business leader:

To drive the technology for creating the business value, the CIO has to create a business strategy.

They invest their time to interact with the functional and business leaders to gain an in-depth understanding of business insights and develop a detailed understanding of customers’ issues. CIO invests to study the customer issues for reviewing customer-satisfaction reports, regularly monitoring customer-care calls, and participating in user forums to hear direct feedback.

The CIO of B2B technology meets the customers on a regular basis to get firsthand feedback for both product and customer service which uses these perspectives for perpetuating the technological decisions.

Take responsibility for initiatives that generate revenue:

CIO has to predict the business implications of technology, for instance, customer withdrawal because of slow download times on a site or other poor user experiences.CIO can further develop business strategy by taking the initiatives such as building an e-commerce business, or by working with a business-unit leader to launch a digital product and then measure success by business-impact key performance indicators (KPIs), not technology KPIs.

In digital transformation, CIO at a large financial institution committed to developing digital products to drive the business scale in the market. While, the CIO understand the process of building the systems to support financial products, and build rapid test-and-learn cycles to identify the needs of customers.