CIOs, Tips to Implement New Home-Grown Technology

A decade-long SSRN study found that new home-grown technology can save your company $90 million per year per subsidiary! It also reduces operational costs by 15 percent. Isn’t that amazing? However, most companies believe in purchasing IT service subscriptions from external vendors only. Influential stakeholders shy away from relying on their in-house products. In this article at Harvard Business Review, Christian Stadler, Constance E. Helfat, and Gianmario Verona share how CIOs and other tech leaders can overcome these barriers with some valuable tips.

Introducing New Home-Grown Technology

Bottom-Up Approach

Senior management can ensure that frontline workers use the home-grown technology by establishing a policy. However, that method can also cause more chaos and resistance. After all, new technology has few takers in the beginning because frontline users fear costly breakdowns. Why not let the teams that will eventually work on the product provide feedback after a pilot program? The senior leaders can then decide whether to improve the home-grown technology or replace it with an external one.

The Relevant Users

Your R&D team must select users that will find the home-grown technology to be the most relevant to their work. This effort will bring about a better success rate. Convince developers that have been working on the older version of the technology and to use the new tech. Then, redistribute them into other teams or business units to reduce the resistance factor.

Optimize Funding

Instead of looking for outside sponsors, why not approach stakeholders with aligned interests? The initial months are crucial and will need immense support from the stakeholders. So, involve people that are highly interested in the business’s success. You can also combine two similar projects and implement the technology. This will balance out the risks and costs between the two projects.

To view the original article in full, visit the following link: https://hbr.org/2021/08/3-strategies-for-rolling-out-new-tech-within-your-company

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