Being the CIO can be a difficult balancing act between maintaining and operating existing IT infrastructure and business applications while also supporting the digital transformation your Line of Business (LoB) requires to stay competitive.
In the modern digital landscape integrating your existing IT landscape with new technologies like Internet of Things (IoT), Artificial Intelligence (AI), Robotic Process Automation (RPA) and advanced data analytics as well as cloud-based business application (PaaS and SaaS) has somewhat become the new normal.
This raises a question that every CIO must ask oneself: how to balance your IT budget and combine the often-high running costs of day-to-day IT operations with the need to take advantage of the latest technology trends?
There is no doubt, that data from most industries show that the digital transformation of a company has become a competitive parameter. In spite of this, many organizations are still slow to embrace the many opportunities now available. A reluctance that is in some cases based on an understandable concern to comply with complex industry regulations as well as security concerns.
Digital transformation should be a part of your company’s IT strategy – a strategy that might even entail cannibalizing parts of your current mode of operation in an effort to free up resources when implementing your digital transformation initiatives.
Outsourcing as well as cloud services which can integrate with your existing IT landscape could be a first step towards taking advantage of the new technology’s such as IoT, RPA or SaaS – and there are service providers in today’s landscape who can provide cloud services integrated with more traditional outsourcing services.