Alexandra Levits Water Cooler Wisdom Digital Growth We Arent In IT Anymore

Alexandra Levit's Water Cooler Wisdom Digital Growth We Aren't In IT Anymore According to Gartner’s2017 CEO survey, organizational leaders are undertaking digital business transformation in huge numbers. While growth was cited as the top business priority (by 58 percent of the nearly 400 CEOs surveyed), IT-related changes (cited by 31 percent of the CEOs) came in second. This is the highest IT priorities have ranked since the inception of the research. Interestingly, almost twice as many CEOs are intent on building up in-house technology and digital capabilities as those who plan on outsourcing it (57 percent versus 29 percent). Gartner called this the re-internalization of IT â€" bringing information technology capability back toward the core of the enterprise because of its renewed importance to competitive advantage. Digital Is Officially Out of Its IT Silo C-suitecomprehension of digital business and overalldigital IQhas also improved. More of them arealigning technology to business goalsand focusing on digital product and service innovation. Twenty percent of CEOs are now taking a digital-first approach to business change, while 22 percent are taking digital to the core of their enterprise models. One-third of CEOs have significantly revised management key performance indicators (KPIs) to drive performance in thedigital economy. Forming a tech or digital partnership was cited as the most-used strategy idea, but creating a venture capital fund was cited as the best-performing one. How do CEOs pay for digital transformation, and how do they solicit the right talent to drive their initiatives? Self-funding from digital revenue was the top source of digital business transformation finance, and CEOs admitted they are not doing enough to develop the necessary talent to most efficiently apply tech-based insights and that their teams lack digital leadership mindsets like open-mindedness, adaptability, and entrepreneurship. For the rest of the piece, have a look at the QuickBase Fast Track blog.