Despite overwhelming innovations and technological advancements, businesses often struggle to balance their IT investments to achieve maximum ROI. This is primarily due to the complexities associated with technological solutions and the need for expertise without diverting focus from core business functions. Some common challenges include:
Siloed approaches are the greatest enemy of customer centricity. In today’s world, various business functions that need to collaborate often experience blurred lines between them and other teams like customer support, sales, and marketing. This restricts data sharing and eventually impacts the overall customer experience. To deliver a superior customer experience, seamless collaboration governed by robust security and compliance policies is essential.
Leakage in investments is another significant issue often overlooked due to limited visibility or lack of alternatives. Siloed operations and the constant pressure to keep up with technological advancements frequently result in slower time to market and reduced resilience, as time is lost in stabilization efforts.
The lack of in-house skills often puts customers at a disadvantage due to increased dependencies and reduced agility in capitalizing on technological innovations. This is a significant obstacle for businesses aiming to lead the competition and can also drive up overall operational costs.
Traditionally, IT has been treated as a support function and key enabler for go-to-market strategies. Achieving fully autonomous operations has long been a dream for businesses that view IT as a cost center. However, this trend is changing. With advancements in cloud technology and AI, IT is increasingly taking a leading role in building business pipelines. Rather than just being a support function, IT is poised to become a primary business driver in the near future.
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