The changing role of IT

SMBWorld Asia Editors
SMBWorld Asia
A global survey reveals that over half of businesses polled primarily rely on IT departments to increase efficiency of their operations. But IT is largely falling short of expectations to drive business growth in new areas.
 
Conducted by Juniper Networks and the Economist Intelligence Unit, the survey showed that of all respondents, the highest-performing companies – those who report their financial performance is stronger than their industry peers – identify a different role for IT in key areas of their business.
 
Compared to their peers, the high-performing companies were 20% more likely to say technology played a very strong role in their organization's financial performance.
 
High-performing companies were also 11% more likely to strongly agree that the IT function can support business growth by identifying new market opportunities and 8% more likely say the IT function is very closely involved in helping develop new products and services.
 
Today, businesses are rushing to keep up with exponential data growth and meet fast-changing market needs for digital services, according to the report.
 
Financial institutions are delivering mobile banking applications while gaming companies are rebuilding their game catalogues as online services. As companies rush to deliver these new services, IT has an opportunity to play a role advancing these new business initiatives.
 
While most IT departments are not yet widely seen driving business growth, the companies surveyed predict the role of IT will begin shifting from tools of efficiency to engines of growth.
 
Six in 10 of respondents report IT will be very closely or somewhat closely involved in helping to develop new products or services for the company over the next three years.
 

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