5 conversations CIOs must have to advance digital business

Digital business efforts have accelerated in the face of COVID-19, with leading enterprises and government agencies quickly implementing digital capabilities to support remote and virtual engagement. Now, they have turned their attention to widespread optimization and revenue generation opportunities. CIOs, along with other members of the executive team, are on the implementation front lines. Given their technical expertise, the expectation falls to the CIO to influence, educate, and drive digital transformation.

These are not easy tasks and CIOs can’t undertake the digital transformation journey alone, especially in the rapidly evolving COVID-19 business environment. They must work with their C-suite counterparts and frame digital conversations in a way that inspires, empowers and engages the executive team. In order to spark collaboration and accelerate digital transformation, CIOs need to grow the digital dexterity of the entire leadership team.

To that end, CIOs need to target five roles for digital conversations: the chief financial officer (CFO), the chief human resources officer (CHRO), the chief marketing officer (CMO), the board of directors, and the CIOs direct reports. Here’s what those conversations should look like.

Show the CFO how digital business changes industry economics

CFOs want to drive business performance and ensure the solvency of the organization in the face of fractured technology systems, economic turmoil and a changing regulatory environment. CIOs can advance the conversation by bringing up the ways that digital business technology platforms and tools impact the enterprise and help optimize costs.

A core pain point reported by CFOs is their belief that CIOs are too close to their vendors (e.g., cloud) and cannot make objective decisions. CIOs should view this as an opportunity to better explain their vendor selection process and how it contributes to improved business outcomes. This goes hand in hand with partnering with the organization’s finance department when making IT investment decisions.

CFOs take their role as financial stewards of the organization seriously and CIOs must guide the digital discussion to meet them in the middle. Advise the CFO to think about digital business investments as getting one step closer to business outcomes, rather than as one-off IT projects that only add to expenditures. In addition, as part of this conversation, CIOs will need to gain CFO support and budgeting adjustment for product management as a style of IT delivery.

Talk to the CHRO about engaging the workforce for digital business

Boosting the digital dexterity of the organization is an emerging priority for HR, particularly in the wake of the COVID-19 pandemic. CIOs should share their firsthand knowledge of how the enterprise’s operating priorities are changing in response to the digital strategy and take a high-level view on any technology changes that might minimize disruption for employees during such challenging times.

As part of this conversation, CIOs can partner with HR to identify and fill critical skills gaps, such as AI and security, or use analytics to manage labor costs and even improve the employee experience.

Working with the CHRO is key to implementing the right governance structures for moving digital initiatives forward. For example, create a joint roadmap for the digital workplace. Developing a culture of continuous learning can help organizations upskill and reskill employees rapidly to execute post-pandemic renewal strategies.

Inspire the CMO with your ability to leverage data

CMOs are often more data- and tech-savvy than CIOs may realize. Marketers have worked with data and technology for decades, as marketing is as data-driven as any function in the company. What’s more, CMOs are often held responsible for digital touchpoints and may be in charge of digital engagement for the organization. This makes the CMO an excellent partner in the creative and business-driven use of information and insight.

Engaging customers and planning for a return to growth are the key priorities of today’s marketers. CIOs can foster a positive dialogue with their CMO counterparts if they demonstrate the ability to enhance, combine and deploy customer data in support of such priorities.

A conversation with CMOs should align the priorities of both departments, develop shared KPIs in areas such as customer experience and digital commerce, offer options for technology outsourcing that can also advance marketing’s goals, and collaborate on roadmaps that put capabilities first and technology second.

Tell the board of directors how IT enables business initiatives

The next time the board wants to speak with the CIO because it has a question about security or an upcoming project, take the opportunity to expand the digital conversation and build your knowledge of the business and the industry. Gartner clients tell us that this is essential for the CIO’s advancement in the enterprise.

CIOs must avoid giving the impression that they are only focused on the traditional IT agenda or technology or project details. Instead, build on the board’s quickly evolving knowledge of technology and connect IT activities to revenue growth, detail the landscape of possible digital competitors, and show your commitment to becoming a digital business leader.

Give your direct reports the confidence to execute

CIOs need to address the feelings, hopes and fears of the people who report to them, especially in these times of turbulent change. Improving psychological safety — a shared belief among team members that they feel comfortable taking interpersonal risks like admitting vulnerabilities and owning their mistakes — will improve workforce productivity and reduce voluntary turnover.

CIOs cannot empower their direct reports unless they understand the politics of their team and their own biases. In conversations with their teams, CIOs must studiously avoid the landmines of “false consensus bias” (the inability to listen to teams’ feedback and concerns) and attempting to be the sole owner of the digital transformation story.

Instead, CIOs should foster a growth mindset and use culture hacking as techniques to accelerate digital transformation. Encourage teams to have conversations among themselves and across the business about digital initiatives, and share what you as the CIO are learning. After all, the digital journey will be easier for CIOs to make if their peers accompany them.