Financial Services IT Goes Digital Agile organizations are still accountable for their ROI, and just because they adopted lean principles doesn’t mean they are lean.
Financial Services IT Goes Digital Enterprises are craving for more speed to gain competitive advantage during digital transformation; but surprisingly, executives have limited options to respond with.
Financial Services IT Goes Digital To lift IT performance from “bad” to “good,” conventional strategies, stricter cost controls and increased governance may suffice. However, to become “great”, CIOs need to innovate the way they manage technology during digital transformation.
Financial Services IT Goes Digital Technological innovations have been the primary driver of digital transformation until now. To maintain the momentum, digital transformation needs a corresponding wave of innovations in technology management. IT effectiveness is the strive to achieve the best business outcomes from the available technology spending.
Financial Services IT Goes Digital More than one-fifth of IT effort is potentially wasted on technology outputs that are never used, up to forty percent of business opportunities may be missed due to delays, and outdated management practices tax the IT workforce productivity by double digits.
Financial Services IT Goes Digital In the absence of common performance metrics linked to business outcomes, “who should own IT?” is a debate about authority without accountability.
Financial Services IT Goes Digital The monopoly of enterprise IT on corporate technology spending is diminishing, but not necessarily for the right reasons.
Financial Services IT Goes Digital How can the traditional IT organizations remain business relevant while the business IT divide remains, the shadow IT spending increases, and the third-party providers increase their share of the enterprise IT spend? Lean IT has the potential of transforming the way enterprises manage their technology capabilities in the digital-age.
Financial Services IT Goes Digital IT and business executives must decide whether to transform the way their organizations interact. Maintaining the status quo may feel safe, but it’s risky. To determine if the relationship has reached a tipping point, ask two questions: "Is there a viable alternative model for the business-IT relationship?" and "Is it worth the effort?"
Financial Services IT Goes Digital During the time of transition from industrial-age to digital-age practices, what the business needs most is a renaissance of enterprise IT. This is an exceptional opportunity, a call for action, for CIOs and CDOs to spearhead the end-to-end transformation of the enterprise IT value stream through innovations in management and culture.
Financial Services IT Goes Digital Contrary to aspirations of many, the digital revolution hasn’t turned out to be a gold rush; rather, it feels like a game of survival.
Financial Services IT Goes Digital The future of the multitrillion-dollar enterprise IT industry will not evolve from the retrofit of half-century-old IT management practices with relics of the industrial age.
Financial Services IT Goes Digital The treatment of enterprise applications as capital assets is a relic of the industrial-age IT operating model. In the digital age, capitalization of the application development cost can be wasteful and counterproductive.
Financial Services IT Goes Digital Cheaper inputs are no longer strategic for enterprise IT, but a system that propels productivity and throughput while supplying a steady stream of innovations is. The Trump presidency may become a catalyst for it.
Financial Services IT Goes Digital The multitrillion-dollar industry of enterprise IT is facing a major disruption. The process was initiated by the pure-play digital enterprises like Amazon and Google a decade ago, and it has recently accelerated with the broad adoption of digital-era operating models (API, IoT, XaaS), methodologies (agile, DevOps, CI/CD) and technologies (cloud, analytics, mobile).
Financial Services IT Goes Digital Despite the $300 billion spent on technology in financial services annually, funding is still scarce for digital opportunities. Lean IT is the next frontier for CIOs -- a steppingstone in their digital transformation journey and a serious fund-raiser for all sorts of digital ambitions of the business.rn
Financial Services IT Goes Digital Business and IT executives need an objective performance yardstick with integrated controls to confidently grow agile program portfolios.
Financial Services IT Goes Digital Agile development, which is the linchpin of digital transformation, requires a different operating model -- the retrofit of the traditional governance and controls won’t work. Financial services organizations are carrying unnecessary operational and financial risks when scaling up their agile operations, and programs with less than 100 full-time employees are most vulnerable.
Financial Services IT Goes Digital In the digital age, the speed of business change is historically unprecedented and exponentially increasing. The traditional enterprise IT model has reached its max speed, and enterprises are investing in agile development by the masses. At the same time, enterprise-scale agile programs are lacking a proven management framework, similar to the program and project management theory that was behind the success of countless waterfall implementations for decades. Enterprise-scale agile programs with over 100 FTEs are most vulnerable. Many aspiring digital organizations are carrying unnecessary operational and financial risks when scaling up agile programs, and it's getting harder for them to demonstrate sufficient business value to justify investments to date.
Financial Services IT Goes Digital Technological advances in the digital age are profoundly impacting the business models, competitive forces, customer behaviors and regulatory environments. The ability to exploit the speed of business change has therefore become a key competitive advantage. The question we want to explore is whether the traditional Enterprise IT in the financial services industry is ready for the digital transformation; and if not, what needs to change.