This story of four CIOs facing the challenges of digital transformation nicely describes some of the recurring themes; the need for agility, the need to break down silos, the need to invest in using technology to support the changing needs of their customers.
The convergence of the IT and marketing functions is accelerating which will bring with it challenges as well as opportunities as these two traditionally very different skill sets need to come together to address increasing disruption and transformation.
And it is a challenge. This article begins with research showing that while 72 percent of CXOs report that it is 'critical' or 'very important' for an organisation to turn to a digital business model, only 15 percent said their company is agile enough to build such a system.
Businesses are looking to the CIOs to take the lead. Another recent study found that 52 percent of companies surveyed looked to their CIO and CTO to lead their organisation's digital transformation, but only half of those said they actually had a business-wide digital transformation strategy. Yet the money is flowing to the IT department.
The CIO of global pharmaceutical company Ceva is one CIO who is taking transformation seriously.
"I would not be surprised to find that 80 percent of our IT budget next year will be linked to digital transformation," Tricot said. This includes work on business intelligence, performance management, CRM, marketing websites, supply chain performance, and talent management. Cloud computing has largely driven the company's transformation, Tricot said.