In First, they needed IT to automate and streamline manual operations for improved efficiency. Now, they want it to drive business growth. A global survey of C-class executives and business managers has revealed businesseswhile happy with the efficiency IT brings to their operationswant IT to help them identify new growth opportunities.
A survey carried out the Economist Intelligence Unit on behalf of networking major Juniper Networks has revealed that while majority of the businesses surveyed primarily rely on IT departments to increase efficiency of their operations, IT is largely falling short of expectations to drive business growth in new areas. The survey showed that of all respondents, the highest-performing companiesthose who report their financial performance is stronger than their industry peersidentify a different role for IT in key areas of their business. Compared to their peers,
20 per cent more of the high-performing companies say technology played a very strong role in their organization's financial performance
11 per cent more of the high-performing companies strongly agree that the IT function can support business growth by identifying new market opportunities
Eight per cent more of the high-performing companies say the IT function is very closely involved in helping develop new products and services
Today, businesses are rushing to keep up with exponential data growth and meet fast-changing market needs for digital services. Financial institutions are delivering mobile banking applications while gaming companies are rebuilding their game catalogues as online services. As companies rush to deliver these new services, IT has an opportunity to play a role advancing these new business initiatives.
While most IT departments are not yet widely seen driving business growth, the companies surveyed predict the role of IT will begin shifting from tools of efficiency to engines of growth. Sixty per cent of respondents report IT will be very closely or somewhat closely involved in helping to develop new products or services for the company over the next three years.
Importantly, survey respondents predicted the top technology trend that would impact the competitiveness of their business was collaboration and information sharing through networks.
More specifically, the top technology investments over the next three years will be business information analysis (33%), followed by business process management (31%), cloud computing/virtualization (29%) and mobile devices (26%).
Respondents reported the top technology trends influencing the competitiveness of their organization over the next three years to include collaboration and information sharing through networks (31%), the widespread availability of mobile devices (31%), and the ubiquitous nature of connected devices and integrated systems (27%).
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