Born to be digital
How leading CIOs are preparing for a digital transformation
A core set of digital technologies - mobile, social, the cloud and data - are transforming companies at both an operational and a strategic level. For leading CIOs, these present a major opportunity to expand their role.
A digital world
Across a range of industries and geographies, digital technologies are transforming the way companies and their customers interact. At the same time, these technologies are releasing a wave of IT-led innovation, and creating new revenue and cost-saving opportunities.
This seems like a natural process within internet companies, which are born digital, but the digital transformation is now spreading rapidly to enable organizations of all shapes and sizes to reinvent themselves.
Dealing with the challenge of digital change requires an end-to-end response, building a comprehensive digital strategy, and rethinking the business and operating models.
There are three core changes:
- Using digital to enhance traditional business models, such as moving from selling products to providing services
- Transforming existing business models to offer new digital services
- Inventing wholly new types of business models
Opportunities ahead for CIOs in IT-intensive sectors
For aspirational CIOs, the digital transformation now underway presents a huge opportunity. Previous research revealed that about two-thirds of all CIOs are happy in their role, but that a significant proportion (31%) wants to move into a bigger role, with a broader remit and greater influence over the rest of the business.
The opportunity is especially apparent in a core set of sectors – including technology companies, banks and life sciences firms – that have a higher than average ratios of IT spending as a proportion of total revenue.