Why IT Speed Is Essential to Business Success
Why IT Speed Is Essential to Business Success
IT speed is necessary to respond to new competitors and to enter new markets—in addition to launching new products and services.
Accelerated Pace
70% of global execs said the rate of business/tech change has increased and that they expect this increase to continue for the next three years.
Delayed Reaction
63% said their organization responds too slowly to tech opportunities.
Fumbled Ball
59% said “handoff breakdowns” in attempting to deliver a new tech capability occur within business, finance, legal and/or external parties, while 41% said this happens within the IT department.
Need for Speed, Part I
84% said IT speed is needed to help their organization comply with new laws and regulations, and 80% said IT speed plays a critical role in responding to changes in demand.
Need for Speed, Part II
79% said IT speed is required to respond to new types of competitors, and 77% said it’s needed to enter new markets as well as launch new products/services.
Tough Choice
48% said they’d be willing to compromise on cost, quality or functionality for greater speed.
Big Gamble
81% said their organization lacks a formal statement defining its risk appetite.
Best Practices: Assign the Best People
To “get things done” quickly, make sure “speed” roles are assigned to highly capable and accountable people—and give them authority to make fast decisions.
Best Practices: Bring in IT Early
Some stakeholders hesitate to bring in IT to avoid having their proposal “locked down” due to perceived tech issues. But looping IT in early will ultimately save time later.
Best Practices: Plan for “Speed to Value”
Don’t simply work fast to implement a new technology—work fast to implement a new technology that will create instant and measurable value.
