Not too long ago, in that dark, gloomy boardroom, you stood swishing slide after slide of your latest pet project. Your CEO seated on the other side of the room, glares at you like you aren’t worth his while. You talk tech, he responds with a yawn. You sigh and that’s that.
You don’t have to do that anymore. Why? For one, that was pre-digital technologies and because today, CEOs care. And they care enough to want to champion the use of digital technologies.
According to PwC’s Global CEO 2015 survey, over 80 percent of Indian CEOs said they should champion the use of digital technologies to get the most out of their organizations’ digital investments.
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And that’s probably because CEOs have realized that digital technologies are bringing about a sweeping change—faster than ever before—by enhancing operational efficiency, brand reputation, and more importantly, improving customer experience.
Consider this: Eighty-nine percent of Indian CEOs said that digital technologies are creating value for their organizations by improving customer experience, which beats the world average of 81 percent. When asked which technology is strategically most important for their organizations, 78 percent of Indian CEOs chose mobile technologies for customer engagement.
Customer experience and engagement are crucial for businesses and digital technologies are providing CEOs with platforms to do just that. Which is why, technologies like mobility, cloud, analytics and social media have–and are–going to enjoy a fair amount of investment. According to Nasscom, the share of digital technology investment is projected to rise from 10 percent in 2014 to 35 percent in 2020.
That’s why, CEOs are keen to champion the cause of digital technologies themselves and push their organizations in the right direction.
Among other factors that are helping their organizations get the most out of digital investments, a majority of Indian CEOs cited: a clear vision of how digital technologies can help achieve competitive advantage, and ensuring that executing on plans to leverage digital technologies is everyone’s responsibility.
And as far as creating value to their organizations is concerned, apart from enhancing customer experience, Indian CEOs say digital technologies are providing high to very high value in increasing innovation capacity, data analytics and operational efficiency.
The tables have turned and your CEO is talking tech. Time to make him your bestie?