by: Sarah Joson
Monday, February 17, 2014 |
Info.isg-one.com recently posted an article which highlights the World Economic Outlook 2013 report created by the International Monetary Fund. It implied that it might take a while before markets all over the world experience a total upturn. Established markets such as the Europe and the US have stalled causing deterioration in global trade and instability in capital inflows. This in turn affects emerging economies that heavily rely on exports.
Since most of the CIOs are expected to drive efficiency, innovate ways to reinforce growth, and select the right investments to cater to expansion, they can keep these guidelines in mind to make the right business decision.
Utilize data properly. Put data you’ve collected over time to work. It gives you tangible facts that can help draw out conclusions, monitor problems, and predict what lies ahead.
Closely monitor revenue figures. The IT aspect of a company is the most susceptible to change. It is also the easiest to manipulate and adjust depending on the specifications of the revenue targets. For instance, rapid growth markets are using new trends, the IT department can deploy easy solutions to be able to expand and accommodate the changes in the market.
Be on the lookout for cost reduction solutions. New tools and solutions are being introduced every day, and each time, these are better versions. So, if new sustainable tools are introduced to a company’s process, they should look at the existing service levels and adjust accordingly to create a seamless integration.
Keep your finances in check. Any CIO will tell you that IT equipment and facilities are not the areas where you should put bulk of your budget on. Instead of shelling out big bucks on IT changes, outsource in increments or utilize the cloud so the processes are more flexible.
Segment IT strategies. See to it that your IT strategies are aligned to your corporate strategies and make sure that these are in line with the given time lines. You have short, mid-, and long-term goals - might as well incorporate your outsourced efforts to your internal plans to avoid additional overhead costs.