Digital leaders, or finance functions that ranked “high” on a scorecard of technology metrics, operate at 44 percent lower cost than their peers and employ 45 percent less staff. They experience error rates that are 37 percent lower and spend 19 percent less time collecting and compiling data.
More CIOs and CTOs are looking for digital transformation and smart technology solutions to their line of business leader innovation requirements. Blockchain and related distributed ledger technologies are already making an impact outside of the finance and insurance space from which they emerged.
“An essential component of achieving scale in a technology-enabled transformation is having sufficient in-house technology expertise and talent. One proven model for building a technology bench is the “technology factory.” Such a factory is wholly at the service of the business and governed by the business.”
A new suite of technologies — including robotic process automation, smart workflows, artificial intelligence, machine learning, natural language, and cognitive agents — radically improve efficiency while eliminating errors and reducing operational risk.
Some companies, like IBM in our study, have realized that it is part of their job to support the discovery process at their clients in order to create a market for novel IoT and AI-based products they offer. This is different from selling a finished product – it is more akin to sharing a vision, backed up by plenty of examples.
The IT services world will be a very different place in a couple of years as boutique firms offering niche skills come into the fore. Not to mention the emergence of crowdsourcing for IT talent. Having really savvy IT leaders who can cobble together crack teams on-tap to solve their IT headaches is already becoming a huge differentiator for many firms.
via HfS Research