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TriCore Solutions 2017 Predictions: Looking Beyond the CMO for Digital Transformation

VMblog Predictions 2017

Virtualization and Cloud executives share their predictions for 2017.  Read them in this 9th annual VMblog.com series exclusive.

Contributed by Mark Clayman, CEO of TriCore Solutions

Looking Beyond the CMO for Digital Transformation

As we look back over the last year, there is one question that has remained unanswered: Who is responsible for digital transformation and driving this change forward? The answer is clearly still up for debate. A recent report by Altimeter stated that digital transformation is led primarily by the CIO at 19 percent and the CMO coming in at 34 percent. While the CIO and CMO certainly have an impact on this development there is another C-suite exec that should not be overlooked as organizations continue to embrace this transformation.

The Changing Role of the CFO -

The CFO has a critical role in driving innovation, as they have the keys to expanding business-driven strategy and approving the necessary budgets to appropriately support them. However, most CFOs feel that they aren't fully equipped to produce meaningful business analysis and reporting that can keep up with the pace of change the rest of the company is experiencing. It was reported in a recent CFO research study "Thriving in the Digital Economy: Four Reasons Why Finance Is Excited About the Future" that 60 percent feel that they are underequipped in this regard.

It's up to finance to understand digital, smart technologies, Big Data as well as analytics so that they can make informed decisions in regard to digital transformation. Going into 2017, the CFO needs to remain in high communication with both the CIO and the CMO. They are relying on other C-suites to inform them on what technologies they need to stay competitive. At the end of the day, CFOs are the ones that either halt or give the green light for all digital transformation projects. They should be included in all conversations driving the digital revolution.

Data and Adaptability -

At the cornerstone of this development is adaptability. Everything from organization infrastructure, processes, technology and data remain evolving elements and it's no longer safe to just remain pace. C-suites should feel comfortable taking risks however data should be the main indicator for any digital investment. As C-suites start increasing their communication in this decision-making process they should be in line with digital transformation goals and the speed at which it will take place. Digital transformation does not have to occur from a top-down initiative, it can and should be embraced at all levels of an organization. Start thinking of ways that your organization can embrace new learning practices and technologies. This will ensure adaptability on all fronts of your organization and will eventually close the skills gap internally.

What This Means For You -

Digital transformation can no longer be ignored as the benefits are endless - accurate insights, higher productivity, better resource allocation and can lead to better businesses decisions being made that will advance your company in the digital age. If CFOs, CMOs and CIOs start using technology advancements to their fullest potential, they can create new value opportunities, and turn digital transformation into an investment instead of a cost. Companies can win by using this new structure which includes the CFO and smart companies will start thinking ahead about how they can manage their digital transformation so that it does allow for adaptability. Outsourcing IT for your organization can allow for essential expertise to be brought to the table that might otherwise be lacking alongside innovation and cost control that can keep this transformation on a successful path.

As you take a deeper dive into digital transformation come 2017, start thinking about how the CFOs can be better aligned with strategies that drive growth. C-suite infrastructure does not have to stay as rigid as you might think. You'll continue to see roles and responsibilities shift as digital transformation comes to the forefront of your organization's priorities.

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About the Author 

As President and Chief Executive Officer, Mark is responsible for all Sales, Marketing and Operations at TriCore. His focus is to enhance TriCore's Customer experience by educating the market and current Customers on TriCore's existing and new service capabilities, and continuously improving the long tradition of excellent service. In short, Mark is responsible for optimizing service delivery operations throughout TriCore. He is tasked with creating TriCore's long term vision and strategy and ultimately, the company's growth. 

Prior to joining TriCore, Mark was the SVP of Sales and Marketing at NaviSite where he was responsible for driving revenue by providing scalable, customer-centric application and managed services solutions. Mark joined NaviSite through the acquisition of Surebridge, Inc., a provider of application management services where he served as Vice President and CIO, responsible for developing and managing the Service Delivery organization.

He holds a Bachelor of Science in Economics from Penn State University.

 

Published Tuesday, January 03, 2017 7:02 AM by David Marshall
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