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Reinventing the Enterprise: Technology Leaders Take Center Stage as IT Spending Surges
The pandemic has upended our lives and radically transformed the way most of us operate. The sudden transformation has thrust technology leaders such as CIOs, CISOs and CTOs into the spotlight, creating vast challenges and unexpected opportunities.
At a time of turbulence and uncertainty, technology has become the trusted ally of organizations large and small. As a result, companies are spending more on tech, and the role of the technology leader has been elevated.
“CIOs are playing an increasingly influential role in their organizations after IT spending surged during the Covid-19 pandemic,” writes Matthew Gooding in Computer Business Review. “A 5% increase in median IT spending to deal specifically with the crisis was reported by technology leaders polled in the Harvey Nash/KPMG’s Global CIO Survey for 2020.
The majority of survey respondents agreed that Covid-19 would lead to a permanent increase in influence for CIOs. “What’s more, 70% say the crisis will to a permanent, positive change in the relationship between business and technology teams,” Matthew writes. “No surprise then, that a majority feel their voices are being heard more loudly in the boardroom than ever before.”
From my perspective, the global impact of Covid-19 sped up and energized an evolution that has been gathering momentum since the beginning of the millennium. In my fourth book, The Big Shift in IT Leadership (Wiley, 2015), I predicted that technology leaders would rise to higher levels in the modern enterprise as more companies adopted digital strategies. Unquestionably, the pandemic has quickened the pace of change.
“The coronavirus pandemic has accelerated trends that were building for years by forcing large swaths of the population to work from home and shop online. And many obscure companies are taking off, driven by investors who expect them to flourish in an economy whose future arrived ahead of schedule,” writes Matt Phillips in The New York Times.
Unlike the dot.com bubble of the 1990s, however, this new surge in technology “is grounded on the solid performance even in a deep economic downturn,” he writes.
I’ve often said and written that now is the best time to be a technology leader. The pandemic is testing our character and our leadership capabilities. It is also presenting opportunities at a much faster cadence, requiring the adapt, adjust and innovate much more quickly than ever before.
In my role as CEO of HMG Strategy, I meet and speak with technology leaders from top-tier organizations every day. Based on my first-hand knowledge, I’m highly confident that we have the skills and experience to meet the challenge, adapt to the new normal and prepare for whatever happens next.
At HMG Strategy, we cover what matters most to you: Courageous leadership, inspiration, hope, resiliency, accelerating career ascent, driving a winning agenda and making the world a better place. Our primary mission is enabling and supporting you: the modern technology leader.