IT leadership used to be about keeping things running smoothly and increasing efficiency. Increasingly though, revenue generation has become the top priority, not just for the business, but also for IT.
Often, the business will externally procure high-value technology services bypassing the internal IT department. IT departments that aren’t proactive and ignore the revenue mandate will become marginalised. Here’s how to lead your IT department to a digital transformation to enable and enhance revenue generation.
Critical insight into IT’s role in Revenue Generation
- You, the CIO, can now choose the immediate future of internal IT. The success of IT and your role within the organisation depends on you.
- The CIO can be forward looking and become the Chief Enterprise Integration Officer. This role will be a business executive with valuable technology insight who will drive the IT-enabled revenue generation program; focus on improving marketing, sales, and service using social, mobile, and analytics; and work closely with executives from marketing, sales, and service.
- Alternatively, the CIO can be complacent and become Chief Support Officer, whose IT department will become an order-taking, back-office support function for the business. The CSO will provide information and communications technology support services to the organisation, manage and integrate the many IT vendors that business counterparts will be partnering with, and develop and maintain disaster recovery and business continuity planning.
- Revenue generation relies on the effectiveness of – and the synergy across – marketing, sales, and service. Internal IT is well positioned to improve this synergy because:
- IT has an enterprise-wide, cross-silo perspective.
- IT can effectively build, acquire, implement, and support these solutions using its technical expertise.
- Internal IT can capitalise on its long-term collaboration and relationship with the business since external IT providers lack close proximity to the business.
Impact and Result
- The CIO needs to start the conversation with business executives to create an IT-enabled revenue generation strategy and roadmap, using social, mobile, and analytics to improve business capabilities within and across marketing, sales, and service.
- Establish a Revenue Generation Steering Committee (CIO, executives from marketing, sales, and service) to direct and monitor revenue-generation initiatives.
- Ensure that IT is ready to support revenue-focused initiatives utilizing social, mobile, and analytics.
- Measure the business impact of the IT-enabled revenue generation program and communicate contribution to increased revenue.
- Alternatively, dust off your resume and start preparing for your not-so-distant job search.
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