There’s no denying that digitalisation and digital technologies have made our lives easier. From automation to apps, tasks that once took several hours to complete are now done with the touch of a button.
For CEOs and CIOs, these innovations have made their lives easier, while also making their jobs more complex. According to PwC’s Global CEO Survey, a number of things are causing CEOs and CIOs to lose sleep as they adjust to their new role as strategic business drivers.
This blog post outlines a few market changes that should be factored into every CEO and CIO’s digitalisation strategy.
A lack of skills
As technology evolves, businesses need people with the necessary skills to handle these changes. But this is easier said than done. Especially when you consider that South Africa has a skills shortage. Your digitalisation strategy must factor in the creation of a companywide innovation culture. This should include regular training and the right software tools to equip your employees with the skills and technology they need to keep up with the rapid pace of industry advancements.
Shifting customer needs
Changes in consumer trends have altered consumer expectations. Businesses that design their digitalisation strategy to meet these changing needs, and put customer experience first, are the ones that will succeed.
Just think about how customers used to raise a concern with a brand – they’d probably make a phone call or write a letter. Today, they can use email, apps, social chat platforms and customer messaging boards. This means that businesses have to put people and procedures in place to handle correspondence via all these channels and drive a positive, interactive and highly responsive customer experience with their brand.
No IT executive on the planet can avoid the data security conversation. The threat landscape is becoming more and more complex. It’s the responsibility of the CEO and CIO to keep apace with these risks. Often, one of the greatest challenges business execs face is employee resistance to security policies that may limit their activities.
They say that the best offence is a great defence. Modern CIOs and CEOs need to really understand the business landscape in order to develop a successful digitalisation strategy.
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