The pandemic has sped up the transition and adoption of digital technology across industries. Hence, it is essential that CIOs should come with effective strategies by having a discussion with other C-suite executives to accelerate this digital transformation.
The worldwide lockdown, to contain the spread of the novel coronavirus, has made enterprises rethink their digital strategy. It has forced enterprises across all industries to come up with innovative ways to sustain their businesses.
After the lockdown began, enterprises’ priority was to support their remote workforce. Now, as the effects of lockdown are slowly disappearing, they are looking for widespread optimization and revenue generation opportunities.
Though all C-suite executives have a crucial role in driving the digital transformation journey, no one is better suited to influence, educate, and drive this change than CIOs. However, without having the support of their C-suite counterparts, it will be an almost impossible task to drive the digital transformation.
Hence, it is crucial that CIOs have conversations with the executive members that will spark collaboration. This way, the entire leadership team of an enterprise can provide their view and can take effective measures that will help them to scale the business in today’s continuously changing market dynamics.
Exhibit the advantages of digital business with regards to the economy to CFO
CFOs strive to ensure the organization’s business solvency against constantly changing technological systems, economic crises, and regulatory environments. With extremely tight budgets, if there’s no clear visibility for the RoI, that could have a negative effect on their risk capacity.
Hence, CIOs need to show how integrating digital tools within the business model can optimize costs, thus demonstrating a healthy RoI.
CIOs need to support CFOs since digital business investments will only help meet the enterprise’s business goals instead of being just another IT project. Furthermore, CIOs will also need to gain the CFO’s confidence to help with a budget and support their investment for product management.
Having a conversation with CHRO with regards to Engaging the Workforce
Having employees that can perform well in adverse situations is a priority for HR, especially to successfully combat the COVID-19 pandemic. CIOs can share their experience and knowledge with CHRO, and let them know how they need to rethink the enterprise’s operating priorities. CIOs can share their views on what technology must the enterprise leverage to minimize the disruption that employees might face.
AI and security have emerged as an area where the enterprise lacks skilled professionals. Therefore, CIOs can explain the effectiveness of leveraging the tools to manage labor costs and improve staff experience.
Not only that, but CIOs can also partner with the CHRO to develop a structured roadmap for the digital workplace. This way, CHRO can start building strategies to reskill the workforce, lacking necessary digital skills, and laying a foundation for thriving in a digital environment.
Discussing leveraging data with CMOS
The CMO stands at the forefront when it comes to the digital engagement of an enterprise. They are also tech-savvy and make data-driven decisions. The ability to make decisions that elevate an enterprise’s image by utilizing their creativity makes them a perfect partner to improve an organization’s digital landscape.
CIOs can discuss with their CMOs to use the digital business as an opportunity to engage customers and convert them. CIOs should stand with CMOS on key business aspects such as customer experience, digital commerce, and offer technology for outsourcing that can help meet the marketing goals.