Over the past few decades, organizations have applied technology primarily to reduce costs. Faster computers, instantaneous global communications, and specialized software for every business function have dramatically improved productivity and driven costs out of the value chain.
But the days of cost reduction as the primary focus of IT may have ended. As noted here a year ago, “improving the effectiveness of business processes” has replaced reducing costs as the top concern of IT leaders.
Now, fresh research from the Business Performance Innovation (BPI) Network reinforces and builds on this trend. Across enterprises, business leaders are looking to IT and new technologies to help “increase agility, improve customer experience, and make their companies more competitive.”
As the mission of IT is transformed from driving out costs to driving business model innovation, IT’s profile is raised as well. Per the BPI research, almost two-thirds (65%) of enterprises “say technology has become ‘far more important’ to their organizations in the past five years. Another 28% see it as ‘somewhat’ more important.”
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