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Over the years, IT Outsourcing environment has witnessed dramatic changes, mostly because of changing business objectives from achieving profits to meeting client’s expectations. In near future, it is expected the IT Outsourcing space with continue to have some remarkable growing changes which will offer novel solutions to business leveraging latest technologies.
The role of CIOs is changing as technology is going through a fundamental shift. Looking at the challenges and emerging technologies, we will be surely seeing CIOs taking new roles in the coming years. The success will be with those who can recognize the change faster and implement with utmost effectiveness.
So what are these trends? What are top IT Outsourcing trends CIOs need to look in 2016 and coming years? Well, it is indeed a broad topic to talk about but to save your time we have identified top 5 trends which are must dig into being CIO or IT leader.
Top Five IT Outsourcing Trends CIOs to Watch in 2016
Many are living with a perception that IoT is the next big thing. They are wrong because Internet of Things is already here and it is everywhere! Wearable technologies like watches, Google Glasses and everything else has transformed the world technologically. CIOs are in a position where they not only need to transform but transform quickly. Gartner predicts that the amount of connected “things” will reach 25 Billion by the year 2020. This helps us understand how important IoT is at present. CIOs need to realize it and deal with this challenge in the most efficient manner. It is vital for them to leverage IoT into their IT business strategy by talking with the relevant stakeholders.
2. Big Data
The world today is surrounded with and drenched in data. There is more data all around than ever before. Everyone has realized this but the most important question that comes to one’s mind is that what one should do with it. CIOs today are facing with this challenge of understanding what needs to be done with data and how the business can benefit by leveraging Big Data into the company. A research study stated that a number of executives claims if their companies do not implement a Big Data strategy than they might lose their market position significantly in the next three years. CIOs need to give a lot of importance to Big Data because it will help them adapt at a quicker pace. A Big Data framework should be focused on agility and quick decision making.
Security is a very significant challenge that CIOs face today. Data leakages cause a lot of damage to companies and CIOs find it very difficult to deal with. It is a high priority task to ensure that minimum data leak is occurring. CyberEdge carried out a report recently which states that 52% fear a cyber-attack in 2016. A security strategy should be the need of the hour for CIOs in this scenario by implementing technology and policy measure and also finding the right balance between innovation and technology.
4. Digital Transformation
Transformation is a word which runs in the minds of every CIO. In fact, transformation is required in all kinds of businesses. Digital transformation if used effectively can turn out to be a big advantage for a company. But presently the CIOs are finding it really difficult to cope with the digital transformation as they are transforming at a really fast pace. Having right IT partner in place to help to identify technology changes and define a strategy to transform quickly is a must.
5. People & Digitization
Finding the right talent and retaining them seems to be an uphill task for the CIOs today. There is a lack of experienced staff identified by businesses all over the world. It acts as a barrier for CIOs since with lack of talent, a company can never progress. So it becomes a very crucial task for CIOs to come up with creative ways to attract new talent. It is also important to build a strong platform to hire, train and retain top talent. And to hire, digitization of company can play a major role and can help them to get the best of talent in the market without hassles.