It’s the first thing millennials see in the morning, the last thing they look at before going to bed, and their constant companion throughout the day. It’s their phone. The younger generation’s dependency on mobile is driven by the considerable role technology plays in our everyday lives. With the touch of a button, these young men and women can do anything from ordering a car or depositing a check to sharing photos, videos and stories with friends and the public at large.
Recent research by the UK’s Tech Partnership into the views and opinions of 1,600 employers across the UK concluded that economic growth is being put at risk due to skills gaps in the tech workforce. Employers reported significant problems in recruitment, with 42% of those recruiting tech specialists saying that they were constrained by ‘hard to fill’ vacancies.
The concept of “capability” has long been used in strategic analysis to establish defensible leadership. What are the capabilities that are being established by leading service providers and customers? How do you assess the difference between hype and substance?
Anyone with even a passing interest in technology will be well used to the claim that a particular IT system – some combination of hardware and software – is “clever technology”. Similarly, synonyms for intelligence have been appended as a prefix or suffix by every IT vendor’s marketing department to add an extra sparkle to their latest technology.
It wasn’t all too long ago that pricing models offered by information technology outsourcing (ITO) services and firms fell strictly into the “static” category. In fact, thinking of these agreements as anything but fixed or rigid in nature simply didn’t make much sense based on the layout of the outsourcing landscape. Customers requested a certain type of IT or software development and service providers fit this requisition into an inelastic pricing structure that had little room for change or adaptability.
According to the Institute of Finance & Management, 61% of top global companies have implemented full Accounts Payable (AP) automation. This occurrence has had its challenges.
Primarily, the universal commonality of budget allocation is the obstacle to overcome. When a company’s CFO is prioritising expenditures, their eye remains on cash flow and compliance/risk mitigation. AP must factor into these objectives to achieve funding for automation (or for anything else; with decisions being made by priority).
As outsourcing has matured as a practice, and as new technologies such as cloud have come to the fore, the nature, composition and scope of deals have evolved dramatically: we live in an age of multisourcing, of hybrid delivery environments and of the ongoing transition to global business services.
Wandering around the Gartner Symposiums at the end of last year, listening to the keynote speakers and chatting with CIOs from some of the world’s leading brands, it is clear that the year’s theme was very apt. “Rise to the Challenge” reflects both the exciting opportunities and the daunting demands on IT departments. At a time when budgets continue to flat line, CEOs are looking to digital transformation as a crucial step to their future business success, and they expect their CIOs to pull out the proverbial IT rabbit to support this goal.
Common sense tells us that businesses grow when they innovate. And that those with the greatest amount of innovation benefit the most.