IT advice for CXOs
Negotiate with outsourcers for you? Salespeople are experts at what they do, and they know what tools help them do it best. Few professions have their compensation aligned so well as salespeople, so I don’t believe for a minute that the effort at learning a new system would be a hindrance for sales teams convinced that a new CRM was really going to boost their results. Most sales people are willing to work hard, they are motivated to invest in anything that will put money in their own pocket, and smart enough to learn any tool that meets that criteria. I believe the resistance to adoption and usage of CRMs often runs much deeper, and requires a commitment from the highest levels of leadership to resolve…
Recent incidents should serve as sufficient motivation: UK National Health System – 16 hospitals’ systems were completely shut down by the WannaCry virus, tallying a cost of 100M in 2017. Atlanta – the city government was crippled by ransomware, disabling the city’s ability to operate or fund services in 2018. Marriott/Starwood – 500 million customer records breached in 2018, including birthdates and passport details. Capital One – 100 million customers credit card details and histories were breached in July 2019. Read more info at oversight of IT outsourcer.
A trick any CEO should know about cybersecurity: Cyber-attacks and security breaches will occur and will negatively impact your business. Today, the average cost of the impact of a cyber breach is $4.9 million. Historically, cybersecurity has been an area that is housed solely in the technology department of a company, whether that consists of one or twenty employees. But more and more executives are understanding the importance of being not only knowledgeable but also involved in the conversations and decision-making process when it comes to protecting their data.
Every business should want to have an IT consultant! One of the greatest concerns when adopting new business technology is data security. IT experts can advise a business on the safest technologies to use. The experts can also help businesses identify loopholes in their current systems that may lead to a security breach. Hiring an IT consultant is the right move whenever a business experiences or suspects a data security breach. Internal IT professionals may be too busy managing daily operations to monitor data operations keenly. Find extra details at customers are more tech-savvy since COVID.
Innovation Vista is not satisfied with the same IT approach most industries have followed since last century. We Innovate Beyond Efficiency. Our evolutionary approach ensures that prerequisite phase(s) are completed before moving on to the next. As much as business leaders want to jump immediately into “Digital Transformation” (and as much as many consultants are happy to sell services to do so), our experience tells us that companies which aren’t ready with the underlying IT capabilities and stability are simply not ready. As with all worthwhile things, creating revenue or disrupting your industry with technology capabilities require significant effort and preparation. We seek to Build Trust First, and to maintain that trust throughout the journey as your trusted IT strategic advisors.
Transitions can be among the most daunting and complex business events for leaders to navigate, and it is often the technology aspects of the change which lead to failure. For this reason, providing Transitional IT Leadership is one of Innovation Vista’s core service offerings. Our experienced consultants have been involved with multiple transitions of various kinds, and bring their expertise to bear on our clients’ challenges: Turnaround of failing companies or IT departments; Mergers & Acquisitions (M&A); Transition to new business models or markets; Change in exit strategy – private equity and IPO strategies; Interim IT leadership to coach successor or as preparatory to M&A. Transition events bring a unique set of challenges which not only add to, but significantly complicate, the ongoing workload involved with successfully operating an IT platform. Other organizations have an interest in unique longer-term IT leadership arrangements: Virtual CIOs – who fill the traditional CIO role as the “head of Information Technology” as a consultant, often part-time &/or remote; Fractional CIOs – who fill the role of CIO for 2 or more organizations at the same time. These structures don’t make sense for every organization, but they may offer a nice solution for some small and midsize companies seeking experienced leadership for lower compensation costs than they would have traditionally paid a full-time CIO. Explore a few more info at Innovation Vista.