How are CIOs Prioritizing Investments?
The technology executives we surveyed and interviewed cited that determining priorities comes down to building a system around understanding needs – for both the organization and the customer.
“
Business Needs
A central tenet of investment decisions rests on understanding the core needs of an organization. Effective leaders recognize that technology strategies must be in sync with broader business
By evaluating the ‘digital yardstick’
in investment decisions, you can
answer a few key questions: ‘Is it going
objectives to ensure alignment and synergy. In fact, it is critical to develop the two strategies in tandem.
to improve efficiency? Is it going to
generate revenue? Is it going to
increase product visibility?’”
One of the Chief Information Officers we interviewed, Irvin Bishop Jr., follows a concept called the 'digital yardstick.' This approach introduces a set of evaluative criteria encompassing aspects such as efficiency improvement, revenue generation, and enhanced product visibility. By quantifying these dimensions, leaders can objectively assess the potential impact of investments and prioritize initiatives that offer the most significant strategic value to business.
Irvin Bishop Jr. CIO at Black and Veatch
CIO INSIGHTS REPORT
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