According to Forrester’s new report, companies need to level up to make room for technology-driven innovation and changing business models.
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The ever-clear technology industry is ready for change, and Forrester’s updated report, Connect Business And Technology Governance For a Future Fit Technology Strategy, is a decision for technology leaders to make changes to existing technology. Reviewing the importance of Governance “Acts as a platform for technology-driven innovation and changing business models, unleashing new business value across the enterprise and ecosystem.”
See: Get back to work: What will the new normals look like after a pandemic (free PDF) (TechRepublic)
At the forefront of the technology business is the ability to demonstrate that it is continuously functioning as an adaptive enterprise. Organizations at the advanced stages of IT transformation need to integrate technology governance with the company’s overall business governance for financing, risk management, and metrics.
Just as technology continues to evolve, it adopts future-friendly technology strategies for fear of being unable to meet challenges, being behind competitors rather than in front of them, and becoming extremely obsolete. The corporate and external ecosystem, “says Forrester’s report.
An important point from the report is how important it is for a company to “create a matrix of technical funding through a strategic theme team.” In other words, a matrixed organization divides employees into groups based on their role in the company and their current project. The Matrix can be configured so that technical professionals work on multiple projects at the same time, and team leaders and managers oversee different teams.
With the proliferation of digital capabilities, security and risk need to be at the core of corporate strategy, and risk management needs to be a competitive differentiator, so “the right technology strategy for the future must be resilient.” Organizations can set themselves apart from their competitors when technology governance puts risks at risk. Make informed decisions and make your business stand out among your competitors in daily discussions with corporate leaders.
Reference: CES 2021: Big Business Trends (ZDNet / TechRepublic Special)
Metrics provide more information than performance feedback, and instead focus on the “dynamically” driving outcomes that connect technology and business.
Despite the fact that most companies are “customer-obsessed” and use it as an operating model, only 15% are successful with one. Successful organizations then create scalable digital platforms to adapt their business models when connecting customers to an evolving combination of suppliers and assets across the enterprise.
Leading companies put technology at the forefront, “technology leaders are driving technology-driven business innovation to pursue the future business needs of their customers.” Organizations that manage technology “continuously and individually” from the entire business are delaying opportunities for change. Traditional IT thinking now only helps to curb corporate progress.
Forrester has found that different “operating units” tend to clash with each other on how to innovate shared technology-based investments. The needs and expectations of the “company as a whole and its ecosystem” are more effective and valuable in cooperation. Organizations need to avoid common conflict issues and make informed decisions for all teams.
Companies can’t fix the problem quickly because they “stall to fund the entire tech stack to deal with volatile business changes.” All changes should not be treated equally, but should be evaluated appropriately.
According to Forrester data, technology leaders need to innovate using four matrixed governance methods.
Share responsibility across business units and fund outcomes (establish a strategic theme team to advocate outcomes between business units, call for active external partners to be involved in technology governance reviews, and multifunctional services Establish policies to drive adaptive platform-based solutions (creating enterprise-wide governance and funding technology-driven business innovation experiments) (cooperating with multi-functional service architecture standards) Create contracts to support flexible procurement and enable a shielded innovation space for disruptive technology-driven innovation) Positioning as a competitive advantage Risk (promoting cultural change), speaking culture Encourage, “automation, automation, automation”). Drive integrated technology and business governance using strategic theme-based metrics (strengthen shared goals across enterprises and ecosystems, reflect customer outcomes, and apply dynamically ) Insight metric shadow customer future needs to drive action across the value stream and bring market insights to the forefront).
Organizations “treat advanced technology governance as part of a new operational model” and integrate business outcomes into governance-related activities such as strategy by making advanced, customer-obsessed adaptive technology governance a strategic goal. is needed.
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