Saturday, January 28, 2023

CIOs Playbook to Prep Up for the Next Business Disruption

By Nikhil Sonawane - September 28, 2022 4 Mins Read

Modern businesses need to reevaluate their business continuity and disaster recovery constantly to identify their workflows for weaknesses and address them.

During a business disruption, IT leadership plays a crucial role in how to respond to the situation to minimize the impact. CIOs steered the digital transformation during the recent pandemic to ensure their work processes continued in a hybrid or remote model. Enterprises find it challenging to strike a perfect balance between prepping up for the next disruption while considering resource allocation. The covid-19 pandemic showed organizations their operational and IT infrastructure gaps, that needed immediate attention. Many enterprises have already implemented measures to ingrain resiliency into their business to ensure continuity, irrespective of all the disruptions.

Here are a few ways that CIOs can consider implementing effective response strategies to withstand the next business disruption.

Also Read: How IT Leaders Can Embrace Responsible AI

Maintain an updated IT infrastructure

One of the most significant ways to develop a resilient business is to maintain an updated enterprise tech stack. CIOs should consider regularly tracking and analyzing the current state of IT infrastructure. Organizations might have a tremendous amount of technical debt due to the legacy systems and many modernization opportunities. IT leaders need to partner with service providers that assist in resolving the technical debt to improve the overall tech stack. Enterprises need to invest in modernizing their IT infrastructure that enables them to execute daily operations irrespective of their location.

A one-size-fits-all approach will not develop a resilient infrastructure

The one-size-fits-all approach does not help businesses that have a global presence to be prepared for the next disruption. CIOs should consider addressing the challenges of every vertical, location, and department to ingrain resiliency into the entire enterprise. Ingraining resiliency in phases will enable enterprises to ensure end-to-end disruption-prone workflows.

IT business leaders need to ensure they have efficient data management processes to gain valuable insights into potential business disruption threats and response strategies to mitigate them. However, leveraging data has some inherent limitations that the CIOs should consider while evaluating the potential disruption and developing response strategies. To make the most accurate strategies, modern enterprises need more agility and transparency, which many enterprises fail to get. Many organizations have implemented Artificial Intelligence(AI) and Machine Learning (ML) tools to accurately predict business disruptions and their impacts on workflows.

Also Read: Why Unstructured Data is Important for Business Intelligence

Make strategic data-driven changes throughout the organization

While developing a resilient IT infrastructure requires valuable insights from the complete spectrum of aspects that interact with business continuity. As CIOs have comprehensive insights into the entire business and technology landscape, they can leverage them to make data-driven decisions to ingrain resilience in their workflows.

It is crucial for business leaders to analyze their entire business ecosystem right from their partners, vendors, workforce, and clients to determine how disruption would potentially impact each aspect to develop strategic action plans.

Prioritize cybersecurity

The covid-19 pandemic not only showed business potential operational gaps but also had a tremendous impact on cybersecurity. It highlighted enterprises need to reimagine enterprise security to be secured in the sophisticated cybercrime world. CIOs play a crucial role in dealing with the existing technical debts and also the potential issues arising from the use of the latest technologies. Once the organization modernizes its IT infrastructure, it should also ensure they modernize its cybersecurity policies to maintain resiliency. One of the essential aspects CIOs should consider while developing disruption-prone business models is to strengthen their cybersecurity. Modern enterprises need IT leaders that effectively tackle new sophisticated security challenges and keep the business network secure at all times.

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AUTHOR

Nikhil Sonawane

Nikhil S is a Tech Journalist with OnDot Media. He is a media professional with eclectic experience in communications for various technology media brands. He brings his eye for editorial detail and keen sense of language skills to every article he writes.

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