Rapid advancements in technology have blurred industry boundaries and are creating new business models. Increasing and sustaining top-line growth and improving operational efficiencies are the real challenges in today's digital world. Furthermore, agility and data-driven decisions are becoming an integral part of a successful organization. All these have changed the way value is created and sustained. Strategic choices must balance bold moves supported by technology, innovation, and data-driven decision-making to generate revenue and cost efficiencies.
With over two-plus decades of expertise assisting technology and business executives of Fortune 500 companies, monitoring trends, developing and testing hypotheses, and collaborating with some brilliant people, we learned a few harsh realities of business technology that governs our proposed solutions. Here are the three most critical ones:
Going digital is about enhancing competitive advantage, delivering value at core business and adjacencies, creating a seamless customer experience in processes, and building capabilities that support the entire structure. It requires an intimate understanding of how customer behaviors and expectations are evolving inside and outside of the industry, getting ahead of the trends, and developing distinctive capabilities to improve how customers are served.
And to make that happen, Framolanse collaborates with technology leaders and the business teams to create a technology-aligned business strategy and foster an environment that supports the evolution of the business model, people, structure, distinctive capabilities, and culture.
Many business leaders think data is the magic wand that solves most problems, and having access to data gives the organization an edge over rivals. Although access to data could help improve products and services and better understand customer demand, it doesn't keep competitors at bay. Moreover, due to technological advancements and customer empowerment, traditional bases of competition are no longer applicable. Also, many organizations in the same industries offer similar products and use similar technologies. Without a strategic direction, data and analytics are just a utility to various business problems without regard to business value.
To build a sustainable competitive advantage from data and analytics, organizations must develop and boost unique capabilities and channel data and analytics to support the distinctive capabilities. Framolens helps technology and business leaders identify differentiating capabilities to base their business strategy and build and incorporate proprietary customer data to enhance competitive advantage.
As technology becomes increasingly important, the CIO's ability to transition from a functional to a strategic business leader determines an organization's success. In this digital era, CIO's partnership with other business leaders requires a new kind of leadership that goes beyond the conventional view that IT primarily serves to drive efficiency and ensure system stability. Technology leaders have a critical role in developing and fostering business strategy. Here one thing to be noted is that the role of a technology leader is not to create an isolated digital, data, or IT strategy but rather to collaborate with business leaders to shape the future and guide the business strategy. Visionary technology leaders take the initiatives by:
" Purpose-driven strategic directions, technology-aligned business strategy, innovation, data-driven decisions, and seamless consumer engagement are the building blocks that put an organization on a winning trajectory. "
Managing Director
I have 25 years of experience working with technology and business leaders to help their organizations grow through technology.
My unique technology and business expertise assist technology leaders, especially the Chief Information Officer, and their teams in reimagining technology and developing and implementing high-impact business-aligned technology strategies to capture value through top-line growth, operational efficiency, or both.
We are committed to shaping a better future. Sustainability concerns are identified in our business activities and relationships.
