How to Create a World-Class Tech Team

 
 
By Dennis McCafferty  |  Posted 11-06-2015 Email
 
 
 
 
 
 
 
 
 
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    How to Create a World-Class Tech Team
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    How to Create a World-Class Tech Team

    The traditional way that IT creates value is changing, and IT departments are expected to innovate more than ever before in order to create value.
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    Constructive Thinking
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    Constructive Thinking

    World-class tech teams devote 39% of their IT budget on "build" activities (such as delivering new app functions), while peer-level teams only allocate 30% of the budget to this.
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    Payment Due, Part I
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    Payment Due, Part I

    78% of world-class tech teams present customers' bills online, as opposed to only 23% of peer teams that do this.
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    Payment Due, Part II
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    Payment Due, Part II

    88% of world-class IT departments have automated the posting of customer remittances, compared to just 52% of peer-level counterparts which have done so.
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    In the Loop
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    In the Loop

    74% of world-class IT departments deploy self-servicing tech in support of collaboration with distributors or suppliers, but just 12% of peer-level departments are doing so.
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    Digital Dollars
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    Digital Dollars

    88% of world-class tech teams enable suppliers to transact with their company through an e-procurement system requiring no manual intervention, compared to only 19% of peer-level teams which allow for this.
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    Optimal Interaction
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    Optimal Interaction

    World-class IT departments make it possible for their organizations to "cover" 79% of customers within a customer relationship management (CRM) system, but just 53% of peer-level departments can do this.
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    Best Practices: Encourage Pro-Active Value Creation
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    Best Practices: Encourage Pro-Active Value Creation

    Empower your IT staffers to identify and present opportunities for better internal process improvement, value-chain digitization and product/services innovation.
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    Best Practices: Map Authority and Accountability
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    Best Practices: Map Authority and Accountability

    In converging tech within business areas, such as digital marketing and financial analytics, clearly distinguish between business and IT ownership of the involved strategies, tech acquisitions, solution development and app maintenance.
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    Best Practices: Sharpen Financial Skillsets
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    Best Practices: Sharpen Financial Skillsets

    Help your tech teams cultivate savvy financial management skills. With this, they can develop total cost of ownership projections that compare, for example, cloud-based solution models to traditional IT acquisition approaches.
 

In defining what makes for an elite tech team, you can come up with measuring tools that address certification levels, project-management skills, communications capabilities and the innovation factor. But when you get down to the core objectives that matter the most, you inevitably need to ask yourself: Does the team save the organization on IT costs, while finding ways to drive additional revenues? Tech departments that are most closely aligned with day-to-day business activities are doing just this, according to recent research from The Hackett Group. The report, titled "The World-Class Performance Advantage: IT in the Era of Business Technology Convergence," divides organizations into two categories: "World class" companies that land in the top-quarter of IT efficiency/effectiveness, and a "peer group" that falls short of this standard. Findings reveal that successful organizations designate far more of their tech budget to activities that build business value, as opposed to tech maintenance and oversight. They also invest more into automation tools than their counterparts, along with customer relationship management (CRM) solutions. "The traditional way that IT creates value is changing," said Mark Peacock, practice leader over IT transformation for The Hackett Group. "In the past, business strategy and operational plans translated into the need for technology capabilities. Today, technology innovation has become a primary driver of business innovation and value creation … (The) convergence of business and technology has made business relationship management a key skill, and increased the importance of IT planning." The research is based on analysis of benchmarks, performance studies and advisory/transformation engagements among more than 100 large global companies.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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