Cultivating a compelling digital strategy remains vital for any company hoping to succeed in the modern business landscape – no matter their size. This is an effort requiring a long-term vision from management; something beyond five or even ten years, which is difficult considering the rapid pace of change in the technology world. Still, those organizations that fail will likely end up as followers in an increasingly competitive environment.
What follows are a few insights aimed at fostering the necessary foresight to help develop the right digital strategy for your business.
The Technology Vision Skills Gap Grows
Managers who tend to primarily focus on the functional side of operations sometimes struggle with developing the right digital strategy for their company. That is the opinion of Shawn Banerji, managing partner of the technology, digital and data leaders practice at Caldwell Partners.
“CIOs who possess that [enterprise operations] orientation and skill set in many cases simply do not have the vision and technical aptitude as it pertains to a digital toolkit. For many organizations, digital was not the critical mandate that it is today and the CIO’s role reflected a build and operate the functional utility mindset,” said Banerji
He also feels companies lack technology talent due to largely relying on third-party vendors, like SAP, IBM, Microsoft and Oracle, to supply their operations with critical enterprise applications. Over time this policy led much of their technical talent to leave for positions with many of these same vendors. That problem has continued as current organizations leverage cloud-based service providers in lieu of an in-house technical infrastructure.
Fostering Digital Innovation at the Enterprise
Banerji feels companies need to champion the entrepreneurial spirit to regain some of their “digital mojo” lost to newer disruptive firms, like Airbnb or Uber. He recommends technology executives look at innovators like Amazon as well as successful new digital initiatives from industry veterans such as GE and Domino’s Pizza. Focusing on using technology to drive positive business outcomes instead of staying bogged down in outdated processes is vital.
“There are huge reserves of untapped innovation in legacy businesses just waiting for the right leadership to unlock it,” summarized Banerji. This forward-thinking executive mindset will likely remain a key differentiator between the successful companies and those merely treading water.
If your organization needs a fresh influx of technology talent, talk to industry experts at Strategic IT Staffing. As one of the leading IT employment agencies on the West Coast, we maintain a supply of great candidates able to make a positive impact on your firm. Schedule some time with us soon!