Key Issue for IT Executives 2011: Cautious Optimism in Uncertain Economic Times.
Jerry Luftman and Tal Ben Zvi starts the paper with introduction of the current situation where the IT is still moving out of recession, organization are still posing new challenges and has cause shift in the IT priorities. The paper discus the top 10 management concerns, however the top four “traditional” concerns remain the same: IT business alignment, business process re-engineering, IT strategic planning and security and privacy concerns. These concerns are business related returns, focus mainly on how to leverage IT to help improve business returns and reduce business expenses.
The concerns been described as
1. IT and Business Alignment: Always ranked as top concerns, it’s more about leveraging the opportunities for enhancing the relationship among IT and business organization to attain success. Around 500 executives have devoted enormous resources and energy trying to align IT, but only one in five believes the effort has succeeded.
2. Business Agility and Speed to Market: Business Agility is important concern after the downturn in US economy, faster and focus responsive IT approach can deliver immediate value.
3. Business Process Re-engineering (BPR): BPR is most important solution to leverage IT ability to reduce expenses. Technology alone is not sufficient, strong collaboration with business is required.
4. Business Productivity and Cost Reduction: Effective productivity is always top priority for the business, study by AT Kearney suggest to reach right amount of IT spending, IT department needs to work together with business. CIOs need support of CEO and staff to deliver effective solution.
5. IT Strategy Planning: This is important process, to succeed today IT strategy is as important as during the time of strong economy. A well planned strategy is required for effective work process.
6. IT Reliability and Efficiency: This refers to the accuracy, timeliness and reliability of the data and information delivered by IT. For good decision making a reliable IT service is required to support it.
7. Enterprise Architecture: New entry since 2011, ranked high as today the CIOs are under pressure from management it show the business relevance and the value of IT. The new structure on virtualization and cloud computing is grabbing attention of CIOs and business leaders.
8. Security and Privacy: Organization need to protect the valuable information asset such as individual taxes, financial assets, medical records, job performances reviews, trade secrets and many more data. It is an important concern to protect these data.
9. Revenue generating IT innovations: Innovation is the key to success for the organization in the current situation, new approach is required. If companies fail to innovate and embrace new technologies they might lose the market share.
10. IT Cost Reduction: Well there was a slack in the economy every organization tried to reduce their expenses and budgets, including IT.
The paper further discusses the top applications and technologies used by management for year 2011. In the survey the organization has marked top five technologies which management involves.
Business Intelligence: BI remains the top application, as it helps companies value their ability to analyze information to perform quick decision making. Even though highly ranked it difficult to implement because of high quality data repositories integrated making it difficult to implement.
Cloud Computing: A new on the list of key technologies since 2009, and will remain on top in near future. In survey by SIM on average with all the respondent companies, 6% of IT budgets were allotted to the internal cloud. We are yet to understand long term implication of Cloud Computing.
Enterprise Recourse Planning (ERP): ERP provides vehicle for...
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