How Can CIOs Navigate a Digital Transformation Budget?

If an organization embarks on the journey of digital transformation, it focuses on the opportunities and risks associated with it. Preparing an IT budget provision is a tough job, and the global financial crisis made it even harder for CIOs. Today, they are undergoing immense pressure to reduce IT costs. The only way to come out of this bleak situation is by leveraging IT investments and streamlining revenue. In this article at IT Business Edge, Mike Vizard defines how CIOs can transform digital applications to help business leaders improve growth.

What’s the Need?

Digital transformation brings immediate value. It helps bridge the gap between IT and technical operations. Additionally, digital transformation improves the innovative capabilities of your company. It also makes it easier to schedule payment plans without delaying invoice processing. Strategic IT investments have changed the corporate alliance between IT leaders and chief financial officers (CFOs). Now, CIOs are proactively working to improve business agility without fretting over the budget. Nonetheless, using legacy systems until your employees embrace the digital processes remains a challenge.

Cost Management

CIOs must diligently observe the budget allocated for advanced cloud applications before dropping any active platforms. Furthermore, the transition from old to new must have a long enough timeframe because swift processing lacks reliability.

You must keep the C-suite updated about the transition details to win their support. Additionally, analyze the pros and cons of the digital transformation. Stay informed about its long-term and short-term benefits to the organization.

Digital transformation requires a robust vision to outline an advanced business model that seamlessly operates in any condition. Click on the following link to read the original article: https://www.itbusinessedge.com/it-management/savvy-it-leaders-navigate-digital-business-transformation-during-covid-19/

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