7 steps to revenue-driven IT

Organizations are increasingly turning to IT for revenue-generating initiatives. Here’s how IT can drive value at the intersection of company and client.

7 steps to revenue-driven IT
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Since joining Christiana Care Health System almost a decade ago, CIO Randy Gaboriault has watched his duties evolve into more of a “CIO-plus” role. “The role of CIO has changed from strategy participant to strategy enabler — a deep influencer if not strategy shaper,” says Gaboriault, now CIO and senior vice president of innovation and strategic development.

Many CIOs share this same trajectory. As part of their strategist role, CIOs are playing a central role in creating revenue-generating initiatives, including new products and services.

“IT as a whole has really moved from the things that help the business do day-to-day jobs, to becoming the engine that actually drives the organization,” says John-David Lovelock, a research vice president at Gartner. “Often, new products and services can’t be launched without IT, and it’s also becoming the point that IT is the product or service being launched.”

Nearly two-thirds of CIOs (62%) say that driving revenue through the creation of new products and services is among their responsibilities today, according to our 2019 State of the CIO survey. They’re taking steps to becoming more revenue-driven by learning about customer needs (55%), creating teams focused on innovation (47%), and creating business-case scenarios with defined costs and benefits (40%), according to the survey. For organizations just beginning the journey, industry analysts and CIOs offer seven steps to shifting to revenue-driven IT.

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