UPDATE: CIOs are under immense pressure to demonstrate business value, with critical insights emerging from industry leaders. As organizations grapple with challenges like shadow IT and underutilized systems, IT executives are urgently redefining their roles to drive measurable impact.
Three top technology leaders shared their perspectives on this pressing issue, highlighting that calculations can’t be done in isolation. Michael Ringman, CTO at Ibex, emphasizes the need for strong business relationships, asserting that shadow IT can be a valuable litmus test for IT effectiveness. “Finding shadow IT is ‘super cool’ because it shows where the business recognizes problems and seeks solutions,” he stated.
Scott Weller, CTO of EnFi, pointed out that change management has become crucial as businesses undergo digital transformation. “IT is now tasked with measuring efficiency and revenue during projects, not just at their completion,” Weller explained. He stressed that successful companies are embedding technologists within business units to capitalize on AI opportunities.
Dmytro Voloshyn, CTO of Preply, added that understanding the financial implications of technology projects is vital. “The easiest way to create a common language between IT and business is to discuss costs and projected value without diving into technical jargon,” Voloshyn noted. This approach fosters collaboration, especially with finance leaders, to ensure strategic investments in technology.
As AI tools rapidly evolve, companies are urged to adapt quickly. Ringman advocates for making numerous small investments and learning from failures rather than committing to large-scale projects that may not yield results. “It’s about achieving a higher success rate by being agile,” he asserted.
In light of these developments, businesses must embrace a dual approach: long-term planning coupled with short-term agility. This strategy enables organizations to pivot effectively in response to external pressures, such as market fluctuations and regulatory changes.
Weller further elaborated on the necessity for a clear mandate within organizations, emphasizing that digital transformations should be incremental. “It’s about starting with small, practical use cases and expanding over time,” he said, highlighting how frequent assessments every three days can align business and IT goals.
As the landscape of IT continues to shift, leaders are reminded to anticipate chaos and respond proactively. With external factors like vendor choices and technology innovations affecting IT value, data-driven decision-making is essential. Voloshyn shared insights from Preply’s partnership with OpenAI, showcasing how measuring productivity gains can reveal significant cost savings.
The call to action is clear: CIOs must become intimately knowledgeable about their organizations to effectively drive business value. With the stakes higher than ever, their ability to navigate this complex landscape and build solid partnerships will determine their success in an age increasingly dominated by AI.
What’s next? Organizations need to prioritize fostering strong relationships across departments and invest in change management strategies that allow for quick adaptations to new technologies. As the digital and AI transformations continue to unfold, the focus must remain on creating a collaborative environment where IT and business leaders can thrive together.
