Can a Small/Mid-Size Enterprise Afford IT Strategy?

Among other insights, a Deloitte Consulting survey of the perception of CIOs found that less than half of IT executives view their CIO as a strategist. And, only 10% of IT executives view their Chief Information Officers (CIOs) as a “revolutionary” who does things like uncovers new markets and revenue streams, translates IT for business, and interacts with C-level executives.

These are the kinds of expectations placed on CIOs today. They are being asked to contribute at the boardroom table and to the business’ bottom line. This is happening in companies of all sizes – and it’s just as relevant to expect IT to contribute to business strategy in a small- or mid-sized enterprise (SME).

IT Strategy for the SME

An SME is not likely in the position of being able to support a CIO function and organization. (Refer to this cost model for an IT department). In reality, a full-time CIO is probably not necessary for such companies, either – but IT strategy likely is. Very few businesses today are able to operate effectively without significant support of information technology. And we’re not just talking about PCs, laptops and a website!

An IT strategy is critical if your organization has any of these goals:

  • Compete in mobile markets
  • Pursue a robust social media strategy
  • Offer products and services via the cloud
  • Become more competitive by reducing costs and increasing operational efficiencies
  • Incorporate deep analytical features into products and services
  • Drive performance through business intelligence and analytics

The Virtual CIO

A virtual CIO is an ideal solution to ensure that an SME can meet goals like those listed above. A vCIO is a business and technology expert who provides CIO-level strategy, guidance and support to an executive team as an outsourced consultant.

Having a vCIO ensures that an organization’s IT strategy is aligned and positioned to help drive the business forward. Just as a Chief Financial Officer bears the responsibility of the finance department’s performance, the vCIO is responsible for ensuring that information technology investments and services also contribute to an organization’s performance.

The profile of an effective CIO is an individual who understands both the technology and the business. The role must create alignment between and company’s technology investments and the business’ strategic goals.

Technology in the Driver’s Seat

More and more, technology is driving new markets and is critical for businesses to succeed today. If your small- or mid-sized enterprise has doubts about whether its IT investments are doing any heavy lifting for the business, talk to us. We offer a vCIO service as well as a complete end-to-end managed IT service offering that makes strategic IT attainable for SMEs.

You can get started today with a Free IT Audit >>

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