Shifting priorities and expanding roles
In today's business landscape, Information Technology (IT) isn't just a support function anymore; it is propelling businesses forward and driving revenue in innovative ways. Let's review the ways IT’s role has shifted from cost center to revenue driver.
According to Foundry's State of the CIO report, “68% of CIOs say that the creation of revenue-generating initiatives is among their job responsibilities. “
Businesses win or die today based on their ability to innovate with technology. Business leaders see the competitive advantage of leading technology and have promoted technology leaders to report directly to the CEO. We’ve seen the creation of new roles, including Chief Transformation Officer and VP, of Digital Employee Experience.
Forrester Research states, “The tech leader’s role is evolving from a niche focus on technology strategy to a crucial business enabler with a seat at the table where pivotal decisions are made — and top-line revenue growth is generated.”
But how are IT teams driving revenue at organizations? We’ve looked at 7 areas that IT makes an impact:
1. Breaking down data silos to drive new revenue 🔨
Legacy systems, mergers and acquisitions, and rapid organizational change all lead to siloed data that does not talk to each other. This creates a problem for organizations that want to see the full-picture of the business. Without connected data, blind spots exist that often lead to missed product, sales, or market opportunities. Data is key for organizations wanting to innovate and grow, and IT plays a pivotal role in connecting the organization’s data to leverage new insights. By breaking down data silos, IT enables seamless access to valuable insights. This empowers sales and marketing teams to make informed decisions, personalize customer interactions, and ultimately, boost sales.
2. Boosting employee productivity and engagement 🚀
The number one priority CEO’s have for their IT organizations is to strengthen IT and business collaboration, according to the State of the CIO report in 2023. Happy and engaged employees are the cornerstone of a thriving business. According to a report by goremotely, profits increase by 21% because of engaged workers’ higher productivity levels. IT contributes by providing tools, technologies, and often training that enhances employee productivity and engagement. Given all that IT is tasked with, properly training employees on how to use their tools at work can feel like an overwhelming task for a small team. IT professionals are seeking out software adoption platforms like BrainStorm to help with end user onboarding, training, and productivity with their everyday work tools. Their investment pays dividends in technology-enabled business results.
3. Architecting systems: The need for speed ⏰
In the fast-paced world of technology, speed is everything.
Product delays can cost the business money and can damage the trust of customers. IT takes the lead in architecting systems that accelerate product delivery. Through agile methodologies and streamlined workflows, businesses can bring products to market faster, gaining a competitive edge and driving revenue growth.
IT can have a big impact on the speed at which companies innovate by making data secure, yet available for product innovation, and ensuring the organization has the right tools, applications, and infrastructure to produce and operate at speed.
4. Smoothing out the customer journey 😊
IT impacts the customer's journey in many ways, directly and indirectly. In some cases, customers interact directly with IT when they call or message support. In other cases, IT indirectly interacts with customers by maintaining the business applications and automating the business processes that power the customer experience.
Reducing customer friction can improve the customer experience and boost sales. IT spearheads the digitization of processes, creating a smoother customer journey. From onboarding to support, digitized processes enhance user experience, fostering customer satisfaction and loyalty – key drivers of sustained revenue.
5. Turning internal apps into revenue-generating products 📱
As the default owner of the digital employee experience, IT is at the forefront of finding the best tools to properly equip and power the workforce. Before, IT made sure organizations had the right computers, equipment, and hardware to run smoothly. Now, IT is not only making sure the workforce is equipped from a productivity standpoint but also sourcing and maintaining internal apps that can be turned into marketable products. By identifying and refining in-house tools, businesses can tap into new revenue streams while enhancing operational efficiency.
6. Slashing meeting counts: A productivity pick-up 📅
Time is money, and IT plays a vital role in reducing unnecessary meetings. Leveraging collaboration tools and efficient communication platforms, IT helps teams and individuals stay connected without the need for frequent meetings. This not only saves time but also increases output.
Many IT teams are using tools like BrainStorm to guide their teams to truly adopt their software applications - like Microsoft Teams, Google Workspace, Box, and Smartsheet. They are able to push employees to more fully adopt their tools, not just resolve support issues. When users more fully adopt their software, IT can demonstrate a clearer ROI on their software investments, as well as their impact on technology-driven business results.
7. Securing savings: Reducing security incidents 🦺
According to a recent report, IT outages can cost companies up to $100,000 per hour.
Security risks and attacks can cost even more. The average cost of a security breach in 2023 was 4.45 million and 51% of organizations are planning to increase security investments because of a breach, including incident response (IR) planning and testing, employee training, and threat detection and response tools. (data from IBM)
The SANS Institute's annual report on security awareness found that human risk is still the biggest source of data breaches and security issues for enterprises.
Security awareness training is still a top preventative measure to reduce security risks at organizations. By implementing robust security measures, IT not only protects valuable assets but also saves money by mitigating the potential financial impact of breaches.
Automate end-user adoption with BrainStorm
IT is not merely a support function; it is a revenue driver that touches every aspect of a business. By leveraging technology strategically, businesses can transform operations, enhance customer experiences, and drive revenue growth. It is time to recognize the true potential of IT as a catalyst for success in the digital age. 🚀💻
BrainStorm gives IT the ability to drive the digital employee experience with ease and automation. Think of it like an LMS that’s custom-built for IT and their end-users. You get automated adoption campaigns that include videos, communications, and polls as well as the data to demonstrate impact.
Learn more by scheduling time with our team to learn more.
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