Digital Business Acceleration: CIO Agenda compilation 2021

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COVID-19 hit all countries terribly, making places empty due to lockdown, people strained for their lives, jobs and future. But at the same time, the …

Digital Business Acceleration: CIO Agenda compilation 2021

COVID-19 hit all countries terribly, making places empty due to lockdown, people strained for their lives, jobs and future. But at the same time, the pandemic has opened a strangely ideal door for many CIOs to save their enterprises. CIOs and their digital business initiatives are now the driving force behind any growth, even the smallest as the entire enterprise’s path to the future runs through IT.

The relation of CIOs and their peers or interiors has never been stronger, giving them the needed leverage they need for their next big challenge digital business acceleration. Year ago, many CIOs have been trying to convince senior business leaders to stake big step to gain the full advantage of technology. And now, the call has been answered, but in a way no one could ever expected. But after all, roadblocks have been removed, and the majority of boards are prioritizing these digital business initiatives.

According to Gartner CIO Agenda Report:

69% of boards report accelerating digital business initiatives in response to COVID-19.

What lessons can be learned from this survey results? Below is a compilation of case studies, expert analysis and insights that allow CIOs to compare priorities and actions with global peers, and glimpse what the future may hold.

See other Tech-related reports here:

CIOs survey about digital business scale

survey results and case studies, plus expert analysis and insight

Shifts in Funding Due to COVID-19

As a result of the COVID-19 pandemic, lockdowns, work from homes and the policy of social distance have increase the relation as well as position of CIOs. According to the survey, most CIO’s relationship with the business is stronger than ever this year.

CIO’s relationship with the business is stronger

Digital Innovation is the means to help businesses thrive in the meaning time. As expected, the spending is set to increase across the board for most IT organizations in 2021.

Shifts in IT Funding Due to COVID-19

2% average increase is expected in IT budgets globally in 2021.

With top performers who have got a jump on it in 2020, they, therefore, will have the chance to increase their lead over competitors. Organizations that have already increased their funding of digital innovation are 2.7 times more likely to be top performers than trailing performers.

How should CIOs respond?

  • Optimize investments by reevaluating recent business cases
  • Reallocate funding to digital innovation

Supply chains fragility

COVID-19 has shown the fragility of supply chains, with enterprises suffering severe disruptions during the initial lockdown. The impacts have still slowly been resolved and not yet to be completed.

More than half of CIOs (51%) reported a decrease in delivery speeds for supply, which are basic IT equipment such as PCs and servers, compared with only 21% believed that there was a speed increase. In terms of supplier reliability, 18% reported a decline as a result of the COVID-19 pandemic.

The fragility of supply chains as of COVID-19

In 2021, CIOs expect the situation to reverse, with 51% foreseeing an increase in speed.

How should CIOs respond?

  • Use digital technology to increase supply chain resilience
  • Use crowdsourcing to expand the horizons of supply chain decision makers

Demand for new digital products or services during the pandemic

Many changes made in response to COVID-19 will continue to accelerate because not only they help business cope with the recent situation (with COVID predicted to lasted until 2022), but they also make business sense. For example, people have to shift their activity online due to the lockdown, which increases the demand for new digital products and services as well as self-service use. This shift is set to increase in 2021.

Demand for new digital products or services during the pandemic

Specifically, 76% of CIOs report increased demand for new digital products or services while 83% expect this demand to increase further in 2021.

As a matter of face, top performers have gone all-in, developing the capabilities to use digital to create deeper relationships with customers, and it’s paying off. As expected, organizations who increase their use of digital channels have the tendency to reach customers 3.5 times higher and more likely to be top performers than trailing performers.

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How should CIOs respond?

  • Invest in customer-facing technologies
  • Play a role in environmental and social sustainability

IT tools and applications enhancement

Many CIOs used this crisis as an opportunity to increase IT tools and applications and modernize the company’s legacy and infrastructure. With their relationship being strengthen and their voice being heard more than ever, they were able to do things that are normally difficult, such as conducting training, increasing the IT workforce and changing the IT reporting lines to roll up to a more senior executive.

70% of CIOs deepened their knowledge of specific business processes to advise the business. The impact of these moves is clear: The better CIOs perform for the business, the more the business asks of them.

Increase in IT tools and applications as results of digital business trends

Most people believe that their business is making higher-value, more strategic requests, and thus, expect trends like these to continue in 2021.

How should CIOs respond?

  • Harness gains in culture within the IT organization to sustain momentum

About CMC Global

Founded from nearly 3 decades of ICT experience of CMC Corp, CMC Global’s mission is to provide competent software engineers, ICT solutions and services for the overseas markets. At present, CMC Global is employing nearly 1000 staff, together with a member company in Japan and other offices in Ho Chi Minh City and Da Nang.

With the aim of bringing CMC’s high –tech products and services internationally, CMC Global plans to open more subsidiaries in some Asian countries such as Singapore, Malaysia…