I feel I should tell you first of all that I wrote this blog on an Airplane. I also connected into a WebEx meeting and met up with my fellow Cisco employees to talk about Industries and find out what was going on in San Jose whilst I was in the air somewhere between San Jose and Dallas. I surprised my wife by calling her via my laptop and saying ‘Hi’!
Anyway, I’m actually more excited that I don’t have to stop blogging and can bring you the news of a great video reference that Cisco collaborated with AzoNobel on:
In the video AkzoNobel’s CIO, Pieter Schoehuijs describes how converging technologies empower an integrated supply chain. As a 14bn Euro concern operating in over 80 countries worldwide, they are the largest paint and coatings company in the world, and a leading producer of specialty chemicals.
Earlier this week, I participated in the Financial Services CIO Summit, which brought together CIOs and other senior technology business leaders from global as well as regional financial services institutions to share insights on the industry’s evolution. The dialogue was rich, compelling, and creative. The leaders grasp the challenges before them and see solution pathways that will help their banks capture new opportunities. So what was on their minds?
Four main forces are driving change in the banking industry: 1) rapid technology development that is providing a new business reality; 2) increasing customer demands that require banks to rethink how they have historically approached customers; 3) heightened competition, not just among financial institutions, but from companies outside their industry; and 4) burgeoning regulation that will require banks to track and store data disseminated to customers, including text messages, emails, and other interactive forms of digital information.
Overwhelmingly, the CIOs agreed that their challenges are not about technology per se; they have a plethora of technology choices. Instead, the main challenge is how to apply technology to maximize business benefits. The role of the CIO is no longer to serve primarily as a transactional technology guru. Management now expects CIOs to identify business problems and apply the right technologies to drive new business and serve customers better—while at the same time helping the bank become more productive and cost efficient.
One of CIOs’ biggest challenges is serving new customer segments with tailored approaches. Banks want to appeal to the younger generation of customers in a more differentiated and adaptive way. Gen Y consumers expect banks to use the web, social media, interactive games, and ubiquitous mobility in their customer interactions. CIO Summit attendees agreed that they need to create greater brand presence in social media circles to stimulate conversations with this key customer segment regarding home ownership, retirement savings, and other personal finance issues.
For high-net-worth clients, CIO Summit attendees pondered two “virtual expert” scenarios based on two-way high-definition video: (1) utilizing virtual advisers in wealth management branches to broaden availability of subject-matter expertise; and (2) home-based solutions that enable clients to reach their financial advisers when it is most convenient.
The CIO Summit offered a glimpse at several great opportunities. To capture them, I think CIOs should consider three steps: 1) conduct research and analysis to identify and prioritize strategic options; 2) define the appropriate business architecture (business strategy, people, processes, and organizational structure); and 3) create the technology architecture that enables successful implementation.
Financial services CIOs face some interesting battles. However, they now have the opportunity to become even more business-critical to their organizations than ever before.
The pace of IT and data is moving exponentially. With a rapidly growing networks across all industries, keeping track of all these connection points will give rise to a new business leader: The Chief Information Officer, or CIO.
Why will a CIO be such a crucial part of future business? Read More »
You can’t turn around without seeing new stats on the growth of cloud adoption. (One of our favorites stats states that by the year 2015, 50% of all CIOs expect to operate the majority of their applications and infrastructures via the cloud.)
While growth is imminent, many customers are still wary and concerned about risk. To both help partners better prepare for growth and help address customer concerns, we launched the Cloud Partner Program with three tracks: Cloud Builder, Cloud Provider, and Cloud Services Reseller.
On the heels of that news, Gartner released a report titled “Cloud Adoption at Risk without Big Channel Investment.” We’ve summarized a few of the key findings and recommendations for partners:
Through 2015, cloud service brokerage will represent the single largest revenue growth opportunity in cloud computing.
The channel has an opportunity to play a significant role in aggregation and brokerage services. The challenges facing enterprises building private cloud services or leveraging public clouds are significantly more complicated than just technology.
I recently watched a session called, “Public Sector Cloud -- The Big Debate”, recorded earlier this year. The debate presents several points of view from experts in the field of Cloud Computing. I enjoyed the candid conversation and the opportunity to get a taste for the challenges governments face in their environments.
I encourage you to watch this too and let me know what you think. The session was moderated by Dr. Richard Sykes and includes experts such as John Suffolk (former UK Government CIO) and David Wilde (Westminster City Council CIO).