Innovation is critical to the success of many organizations, but even more so, technology innovation is imperative for companies seeking to differentiate in strategy. A recent survey by Cisco notes that 84 percent of business leaders say technology innovation is a truly important step for strategic differentiation. Based on the survey, business leaders say investments made by IT leaders and business leaders are not always closely tied, but in order to truly present even greater innovation, business and IT leaders must work as a team. Here there are some interesting findings gathered by Versa Technology.
Cisco’s survey addressed almost 2,000 business leaders about how their business and IT decisions are actually closely related. The survey determined that out of the businesses surveyed, 70 percent of leaders said their priorities are closely aligned with the IT. Almost 70 percent of leaders also noted that IT will impact less than half of the budget for business technology in the next year. This information determines an important fact: two-thirds of all companies can align business and IT spending together in order to ensure an even greater innovative impact.
Since businesses tend to spend more in technology compared to IT’s, the opportunity is increasing even more. More than 50 percent of businesses say their budget on technology will increase 25 percent next year. Over 10 percent say their technology budgets will increase even further and expect budget to change exponentially depending on country and location.
There are a few simple steps for businesses and IT’s to take in order to ensure that innovation and impact continues to grow. The first step is to really identify various issues at every level and then to utilize technology to simplify the process. This can reduce business incidents and ensure that technologies run even smoother. Businesses can also bring together encourage innovation by bringing together technology. This allows business leaders to offer new services to guests with changes in technology and even allows administrators to save costs. Combining technologies can also increase stability and performance, providing both users and administrators even greater service. Lastly, businesses can also increase enhanced applications in order to allow leaders to meet business goals. Innovative networks bring a plethora of opportunities and allow for connectivity to a wide range of devices and applications.
With the start of the New Year, businesses ought to consider various innovative strategies to take goals forward. With the connection between IT and businesses even stronger than ever, innovation is possible with some simple and practical solutions.