IT as profit center
IT is slowly becoming POWER CENTER, its no longer a cost center of your business. The reason it was cost center all this while is, IT departments used to get grants from business. But now things are changing, IT departments not just reducing costs for business, it started generating income. IT department is the growth engine for any line of business like Retail, Health care or Banking.
CIO's role is now becoming more and more important every day. Executives and Boards started looking at IT department for their solutions, new ideas and key income generation.
In today's world eCommerce, social commerce, mobile payments, self checkout kiosks, Smart phone apps are changing the world pretty quickly. Businesses realized where their next big bucks are going to be. IT is grabbing the chair next to main line of business.
IT department is the missing business inclusiveness all this while. It aligns all your business much strategically in today's world. It is the value engine all the while businesses are looking for. You can't imagine effective marketing, advertisement, merchandising, supply chain departments without proper IT strategy.
For example, you can get more attention of customers with viral videos much better than traditional advertisements. Hope you didn't forget AXE viral video generating 2.1 million views which caused high increase in sales in the corresponding month. Reviews on internet are impacting sales. Companies are boosting their reviews on internet to get the customers.
If you are in retail you can't ignore social commerce and mobile payments. If you are in Banking you can't avoid internet banking. There are lot folks in today's world checking their decisions on search engines and deal apps on smart phones. I check in iPhone app Gasbuddy, before filling gas. I will surely check red laser or Shopsavy before buying something big. Deal-map and Groupon became part of every day life.
I call first phase V1.0 where businesses used to call IT as Value add. Now it is V2.0, If you are not improving your operations through IT and if you are not realizing good percentage of your sales from IT you will be surely out of business pretty soon.
This analysis is not about the comparison between different departments in business, it is about the rapid growth of IT department within businesses from value add to THE KEY department.
Happy reading !!!
CIO's role is now becoming more and more important every day. Executives and Boards started looking at IT department for their solutions, new ideas and key income generation.
In today's world eCommerce, social commerce, mobile payments, self checkout kiosks, Smart phone apps are changing the world pretty quickly. Businesses realized where their next big bucks are going to be. IT is grabbing the chair next to main line of business.
IT department is the missing business inclusiveness all this while. It aligns all your business much strategically in today's world. It is the value engine all the while businesses are looking for. You can't imagine effective marketing, advertisement, merchandising, supply chain departments without proper IT strategy.
For example, you can get more attention of customers with viral videos much better than traditional advertisements. Hope you didn't forget AXE viral video generating 2.1 million views which caused high increase in sales in the corresponding month. Reviews on internet are impacting sales. Companies are boosting their reviews on internet to get the customers.
If you are in retail you can't ignore social commerce and mobile payments. If you are in Banking you can't avoid internet banking. There are lot folks in today's world checking their decisions on search engines and deal apps on smart phones. I check in iPhone app Gasbuddy, before filling gas. I will surely check red laser or Shopsavy before buying something big. Deal-map and Groupon became part of every day life.
I call first phase V1.0 where businesses used to call IT as Value add. Now it is V2.0, If you are not improving your operations through IT and if you are not realizing good percentage of your sales from IT you will be surely out of business pretty soon.
This analysis is not about the comparison between different departments in business, it is about the rapid growth of IT department within businesses from value add to THE KEY department.
Happy reading !!!
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