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Unlocking business acceleration in a hybrid cloud world

Unlocking business acceleration in a hybrid cloud world - itvortex

Digital technologies continue to transform every facet of business. Across industries, CEOs have a consistent top priority—harness technology to jump-start growth, speed time to market, and foster innovation. Several factors are ratcheting up pressure: investors are valuing top-line revenue growth; rising customer expectations for simple cross-channel experiences are compelling companies to systematically tear down silos; and an organization’s ability to respond to market shifts is becoming a core differentiator. Meanwhile, digital leaders across sectors have changed the competitive landscape by demonstrating that agility and velocity can beat scale.Sidebar

About the research

Senior technology leaders are feeling this pressure. In recent McKinsey research, when chief information officers (CIOs) or equivalent tech leaders were asked about their CEO’s top priorities (see sidebar, “About the research”), 71 percent pointed to agility in reacting to changing customer needs and faster time to market, while 88 percent of respondents cited revenue acceleration.

These priorities are playing out across every industry, with huge implications for business models.

The common thread running through these examples is the ongoing, urgent need to gain market advantage through business acceleration.

Role of digital and the ever-increasing reliance on technology leaders

IT strategy has long been part of business strategy, but C-suite executives (CxOs) are increasingly seeking a larger impact from investments in digital technologies. Digital innovation has become central to the full range of business transformation initiatives and is no longer just one category among many.

Since technology is integral to a company’s performance and competitiveness, identifying prudent investments in IT modernization becomes even more critical. CEOs recognize the importance of getting it right: good choices establish a favorable course, and the business soars; however, poor choices will siphon away much-needed organizational energy and resources and undermine competitiveness.

The task of translating ambitious tech-driven strategies into accelerated performance falls to CIOs and chief technology officers (CTOs). Nearly 60 percent of CIOs indicated that their CEO depends on them to achieve the organization’s top three business priorities.

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