Saturday, December 3, 2022

Indispensable Role Of CTOs and CIOs in Advancing Technological Change

By Umme Sutarwala - May 19, 2022 3 Mins Read

The responsibilities of CTOs and CIOs have changed dramatically in the last two years as practically every business sector has become increasingly digital. CTOs and CIOs are anticipated to accelerate every transformation project as businesses struggle with the rapid technology transitions necessary in the pandemic and post-pandemic age.

In the period of omnichannel marketing, the CTO is responsible for making technological architecture simple and easy to integrate and enabling scalable access to data/applications and infrastructure. On the flip side, a CIO will be the custodian of business objectives provided through the excellent customer experience facilitated by the underlying architecture, effectively defining the company’s face. Customer adoption is critical to digital success, and the CTO and CIO play crucial roles in this process.

A flexible and agile IT ecosystem (CTO mandate)

An organization should have a flexible and straightforward IT infrastructure offered via a cloud or hybrid environment to accommodate agile, unexpected, or unequal resource use. Moving workloads across different domains and partitioning workloads at a granular API service level are critical for the company to choreograph or orchestrate enterprise processes and results. As the business, IT, and partnerships ecosystem has a high understanding of each other’s capabilities and limits, this also creates a culture of product and service innovation.

Also Read: Advancement in Technology Is Transforming the Role of CFO

Key outcomes and Return On Investment (ROI) (CIO mandate)

A well-defined value strategy and return on significant investment will be critical for the CIO and leadership. The ability to strike a balance between the total cost of ownership and business value can dramatically boost engagement and conversion rates. This might involve increasing customer engagement and conversion, reducing non-contextual communication, and, most crucially, only interacting with consumers through their chosen channels. Realizing this will need a value, not simply a cost—equation.

In a pan-industry technology transition, the role of the CTO/CIO is evolving

CTOs and CIOs’ roles have traditionally been limited to identifying and following new IT trends and policies that might improve their company’s goods and services and manage routine activities. They were not in charge of understanding how these trends would affect their clients; most companies had a CXO in charge of it. However, the pandemic-driven acceleration of digital transformation is altering this strategy. The situation was different with tech-focused companies, where the CTO/CIO was involved in a customer-facing plan. In other firms, where technology was not a priority, the job of CTO/CIO was rarely vacant.

Things have changed dramatically since then. CTOs and CIOs are now responsible for creating new business models, digitizing goods, merging teams and silos, simplifying communication, and offering immersive experiences to remote consumers. CTO/CIO jobs have grown to encompass critical duties in Human Resource Management, cybersecurity, and digital transformation-led business strategies, from being just technological facilitators and consultants to now occupying a prominent decision-making position. They have evolved as the new matchmakers; they are becoming an integral component of the organization, with remote working and hybrid workspaces, digital payments for customers, automation of work processes, and modernization of old technology.

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Umme Sutarwala

Umme Sutarwala is a Global News Correspondent with OnDot Media. She is a media graduate with 2+ years of experience in content creation and management. Previously, she has worked with MNCs in the E-commerce and Finance domain

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