13 Sep Worried About Digital Disruption? A New Era For CIOs, CTOs, And IT Strategists
When it comes to technology, waiting for a disaster to take place to find solutions is both costly and dangerous. The risk of reputation damage and customer losses can be devastating to a business. If your company is worried about digital disruption, creating solutions before there are problems allows you to navigate the challenges effectively while also leading your industry because of your IT strategy.
What Is Digital Disruption?
Digital disruption occurs when new technologies emerge and affect your business model’s value proposition of goods and services. Now that 90% of consumers use apps and spend about five hours a day using a smartphone, IT consumerization by a youthful, mobile workforce is changing the way businesses create IT strategies. What digital disruption has taught CIOs is that they must be at the forefront of technology advancement before the competitors find more innovative ways to do it.
How Should CIOs Respond to Digital Disruption?
One of the clearest disruptions in 2018 is Airbnb’s market share of short-term rentals. Worth more than $38 billion, Airbnb’s technology-based business model acts solely as a third party between rental property owners and guests. Airbnb disrupted the hotel industry so much so that it is now worth more than hotel industry giant Marriott valued at $35 billion. It took the hotel industry a decade to identity Airbnb as a threat and respond to their market upset. By that time, Airbnb had become a norm and the hotel industry was trying to scramble to find new ways to meet the needs of its customers by trying to become the disrupter to Airbnb’s initial disruption.
The lesson learned by the hotel industry was that they could not wait until they had lost their market share to respond to threats which is what CIOs must consider when making an IT Strategy plan. IT leadership must have in place the necessary tools and manpower to take on these challenges before they become problems that threaten a business’s daily operations. The ability to have access to the same technology-based innovation also allows businesses to thrive and expand their marketability rather than become ineffective and unable to compete. (When an enterprise is able to respond immediately to disrupters, it lessens the impact of the threat to your industry standing and lets customers know you are capable of expanding your organization because of strategic planning, asset investment, and IT leadership that understands how to navigate the challenges of the technology of the future which is where Connect Partners becomes an asset to your corporate infrastructure, investors, and upper-level IT management.
Our expert staff understands how to help CIOs and CTOs thrive because of our multi-disciplinary approach to IT strategy, workplace technology execution, and business alignment perspectives. Most critically, we offer companies a comprehensive approach to the disruption that offers innovative solutions and measurable results that expand technology performance.
Call 410-774-1000 to learn more about how we can help you create an effective IT strategy.