The year 2022 will be critical for CIOs. Over the last two years, reactive digital strategies have grappled with enormous changes in the workplace as a result of a global pandemic. CIOs are at a fork in the road right now.
According to a 2020 McKinsey global survey of C-suite executives, the pandemic advanced firms’ digital transformation by three to four years in just months. Today, CIOs have weathered the storm, and the new imperative is to tie tremendous transformation to business strategy.
Several major trends have evolved in the global economy, despite the fact that it is still extremely turbulent and unpredictable.
The never-ending cascade of data
More data is being generated by people and corporations than ever before. Consumer data is currently collected in large numbers from a variety of sources. However, because most of this data is stored away in unprocessed documents, it is not being tapped into. Many businesses are at a divergence in the road and must decide how to employ all of their data to inform decision-making or risk falling behind their competition. Inaccessible, unstructured data can be transformed into structured, usable data via automation and intelligent document processing (IDP) solutions, allowing businesses to get more data-driven insights.
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A new era of cloud-based work
Enterprise cloud adoption has revved further and faster than anyone could have visualized in the early 2020s, thanks to the enormous disruption. According to a 2021 report by McKinsey, half of CIOs plan to migrate more than 75% of enterprise workloads to the cloud in the next two years, demonstrating that businesses are prepared to shift gears into a new generation of cloud computing. As IT leaders try to grasp what McKinsey estimates to be over $1 trillion in value, this new generation will witness a paradigm transformation from IT leaders.
This new period aims to leverage the transformative significance of the cloud and platform-based work, instead of employing it to make incremental advancements in employee and IT efficiency. The future of work will be dominated by cloud platform-based business models, according to an IBM research of companies with combined revenue of $3.7 trillion, which revealed that 94% want to alter their operations to rely more on customer and employee experience platforms.
An increased focus on the employee experience
In the past year, many organizations have struggled to find and hire outstanding personnel. The employee experience is one strategy for retaining and attracting employees. A modern worker is concerned about much more than their pay. They also desire to strike a healthy work-life balance and have excellent job experiences. In light of this, most businesses are emphasizing the need of providing a positive work environment for their employees. They can do so by cultivating a robust corporate culture and providing staff with cutting-edge technology.
Essential for IT to evolve as strategic partners
While this may be simplified, IT has prominence in many enterprises as an encumbrance rather than help in achieving business goals.
Other departments generally consider IT as the final obstacle to significant transformation, as they are regarded as the gatekeepers to digital transformation. IT professionals concentrated on process-first rather than people-first approaches can effectively veto a profitable technology that could make the lives of many workers easier.
This relationship needs to shift as businesses increasingly depend on technology to assist them to do their jobs. To enhance the digital employee experience and boost productivity and creativity, IT will require forming more collaborative alliances with leadership and other departments.