Business leaders seldom have enough time to make a lasting impact. That’s part of what makes their roles so challenging. With the average tenure of a C-Suite executive at 5.3 years, it doesn’t give CIOs that much time to digitally transform their business to be more customer focused, more efficient or more secure. Adding to the time crunch is the proliferation of digital business models and scalable, digital platforms, which are signaling a significant period of change in the way business is – and will be – conducted.
According to a recent Gartner study, cloud services and software as a service (SaaS) applications are “increasing the velocity of technology change at a rate unthinkable with on-premises deployment.” But even Gartner admits, in the same study, that it’s impossible at this point to determine how all this change will impact business.
Three things are for certain:
1. Companies that fail to adopt the digital tidal wave of cloud and SaaS will not survive these disruptions.
2. This radical change presents an opportunity for top leaders to – as Steve Jobs once stated – “put a ding in the universe” through a positive and tangible impact over industries, not just organizations.
3. Modernization initiatives are the key that the C-Suite can use to weather the changes and make that “ding in the universe.”
The Top Benefit of Modernization
One noticeable way in which business is being disrupted by the proliferation of cloud services and SaaS is the global workforce. By 2020, the world’s mobile workforce is expected to reach 1.75 billion. This represents 42 percent of the world’s total workforce, which according to the Global Mobile Workforce Forecast, 2015-2020, represents an increase from 1.32 billion in 2014, or 37 percent of the global workforce.
These numbers highlight the importance for companies to modernize in order to keep up with the changing dynamics of the modern workforce. These figures also illustrate the dangers that companies face from outdated technology and potential technology downtime.
Companies can mitigate technology downtime by leveraging artificial intelligence and automation to monitor, detect and remediate tech issues without end-user intervention. In a recent interview, we discussed how modernization is a zero-sum game in which businesses either "modernize or die".
The key benefit that modernization provides businesses is:
It helps companies build a culture of innovation and collaboration that attracts and retains top talent, and that produces an environment where the best ideas can be incubated and cultivated.
This key benefit addresses a main concern recently expressed in Gartner’s 2018 CIO Survey, which revealed that CIOs believe that corporate culture is the biggest barrier to digital transformations, followed by resources and talent.
Those three categories make up 82 percent of the challenges CIOs face in attempting to become more digital.
Business leaders seldom have enough time to make a lasting impact. But by focusing on modernization initiatives, they can infuse organizations with innovation, uncover strategic directions and illuminate the solutions, which in orchestration, drives results, transforms lives, and produce legacies.