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.
