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Deloitte Tech Trends 2014 report: CIOs facing disruptive forces are reshaping how they run the business of IT


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16 June 2014: According to Deloitte Australia’s Tech trends 2014 report, disruptive forces such as crowdsourcing, mobile, big data and cybersecurity are forcing Chief Information Officers (CIOs) to manage their technology portfolios similarly to how today’s leading venture capitalists do.

“The digital disruption of business models, combined with a bewildering array of consumer technologies, is challenging the way CIOs plan and finance the information technology for their organisations,” said Robert Hillard Deloitte Consulting’s Managing Partner, Technology Agenda.  “Innovative CIOs are deploying venture capitalist (VC) strategies and tactics to manage their technology portfolios and these CIOs are elevating their own roles to that of a business partner and strategist.”

The report identifies how CIOs are increasingly applying the following VC strategies and tactics to adopt a ‘portfolio mindset’ while managing the business of IT:

  1. Creating investment strategies: Much like VCs rely on investment strategies to guide their efforts, CIOs may be able to manage their own portfolios of IT investments more effectively by developing detailed investment strategies that help CIOs and their IT teams better understand how IT projects affect IT assets like hardware, software, facilities, delivery models, contracts, and talent in the short- and long-term.
  2. Evaluating asset performance: Evaluating assets helps CIOs prioritise initiatives that are mission-critical for the business, and identify which hardware and software assets can support growth.
  3. Let the market pick the winners: As CIOs evaluate emerging technologies, it may be impossible for them to predict which ones will deliver the greatest return until they’ve been tested on either staff or customers.
  4. Promoting successes: By approaching the IT leadership role in a more strategic, VC-like way—and less like technologists—CIOs can help the business side better understand and appreciate the value and scope of IT’s contribution. However CIOs can’t just assume that adopting a portfolio mindset will magically transform how others view IT.
  5. Building agility: VCs typically approach market, economic, and other types of disruption as givens. Indeed, agility—the ability to respond quickly and effectively to change—plays a critical role in everything VCs do.

“The traditional CIO role is about providing reliable cost-efficient technology to meet known business demands. In a rapidly changing business world, those business needs cannot be predicted in advance. The most successful CIOs  need to cover more eventualities with a portfolio, like a VC, rather than a small number of big bets,” added Mr Hillard.

Copies of the Tech Trends 2014: Inspiring Disruption report is available on request. Each trend is presented in the report with multiple examples of adoption from Australia and/or overseas to show the particular trend at work. This year, we’ve added a longer-form Lesson from the front lines to each chapter to offer a detailed look at an early use case. Also, each chapter includes a personal point of view in the My take section.

NB: See our media releases and research at www.deloitte.com.au

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Contacts

Name:
Robert Hillard
Company:
Deloitte Consulting
Job Title:
Managing Partner, Technology Agenda
Phone:
rhillard@deloitte.com.au
Email
Tel: + 61 3 9671 7971
Name:
Jane Kneebone
Company:
Deloitte Australia
Job Title:
Director, Corporate Affairs & Communications
Phone:
Tel: +61 3 9671 7389, Mobile: +61 416 148 845
Email
jakneebone@deloitte.com.au

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