Top fractional CIO services from Innovationvista? Recent incidents should serve as sufficient motivation: UK National Health System – 16 hospitals’ systems were completely shut down by the WannaCry virus, tallying a cost of 100M in 2017. Atlanta – the city government was crippled by ransomware, disabling the city’s ability to operate or fund services in 2018. Marriott/Starwood – 500 million customer records breached in 2018, including birthdates and passport details. Capital One – 100 million customers credit card details and histories were breached in July 2019.
With decisions of this importance on the line, where the spectrum of impact from wise vs. poor decisions is so extremely wide, it’s no wonder that many companies hire full-time CIOs/CTOs for this role, often conducting nationwide/worldwide searches to find the right candidate. Compensation packages have increased significantly in recent years, as the strategic importance of the role has increased far faster than the pool of experienced leaders. Explore even more info on virtual CTO services.
An advice every CEO should know about cybersecurity: Achieving information security compliance with one or more government regulatory standards for information security (i.e. ISO 27001, NIST 800-171, HIPAA, NYDFS, etc.) is good, but not sufficient to ensure real cybersecurity. Further, it is incumbent upon CEOs to learn more about cybersecurity to ensure their company is taking appropriate actions to secure their most valuable information assets. This does not mean that every CEO needs to become a Certified Information System Security Professional (CISSP). Rather, CEOs should increase their knowledge of core cybersecurity concepts and leverage their own leadership skills to conceptualize and manage risk in strategic terms, understanding the business impact of risk.
Transitions can be among the most daunting and complex business events for leaders to navigate, and it is often the technology aspects of the change which lead to failure. For this reason, providing Transitional IT Leadership is one of Innovation Vista’s core service offerings. Our experienced consultants have been involved with multiple transitions of various kinds, and bring their expertise to bear on our clients’ challenges: Turnaround of failing companies or IT departments; Mergers & Acquisitions (M&A); Transition to new business models or markets; Change in exit strategy – private equity and IPO strategies; Interim IT leadership to coach successor or as preparatory to M&A. Transition events bring a unique set of challenges which not only add to, but significantly complicate, the ongoing workload involved with successfully operating an IT platform. Other organizations have an interest in unique longer-term IT leadership arrangements: Virtual CIOs – who fill the traditional CIO role as the “head of Information Technology” as a consultant, often part-time &/or remote; Fractional CIOs – who fill the role of CIO for 2 or more organizations at the same time. These structures don’t make sense for every organization, but they may offer a nice solution for some small and midsize companies seeking experienced leadership for lower compensation costs than they would have traditionally paid a full-time CIO.
Progress and innovation are seen as some of the top priorities in businesses, always trying to stay ahead of the curve and compete for an “edge” on an ever-shifting scale. Since Covid-19, companies are seeing just how critical staying apace with the changing times is to their survival and success. The uncertainty of the future brought on by a global pandemic has exacerbated the issue surrounding change and created several challenges for businesses as they attempt to plan ahead. We see situations where business are struggling to “keep up” with developing technology and systems, particularly when the changes impact their business models, or when they have to defend against disruptive innovations from their competitors. Find a few more details at https://innovationvista.com/leadership/it-strategy-for-a-non-it-startup/.
Innovation Vista’s unique methodology for all engagements relating to strategic change, transformation and transition starts with a key step: we BUILD TRUST FIRST. We believe not only that it leads to success; we believe something like it is absolutely required for projects like these to succeed! Gartner reports that 75% of Digital Transformation initiatives will fail, highlighting particularly higher risks when these are seen as “IT Projects”. That is a daunting estimate, but one based on real facts and track records. ..and one we believe is based on human nature.
One critical piece of the puzzle often missed is making every effort to fill/infer data wherever possible to find the optimal balance of complete/accurate data with efficient data entry. If salespeople and support staff see that the system does “everything it can” automatically, they’ll be more willing to enter the unique data points which truly add value to the organization’s view of each customer and opportunity. CRM adoption success is more in the hands of Executive leadership than most leaders realize.
Innovation isn’t a Task to Check off – it’s the Outgrowth of a Culture of Collaboration and Teamwork: Innovation is like mom and apple pie; ask for a show of hands of who likes and wants it, and few hands will stay down. If it were a matter of choosing it, everyone would be doing it. So why is real innovation so rare? Because it depends completely on the most difficult challenge of workplace alchemy that leaders face – Culture. Without a culture of Collaboration, innovative ideas will stay locked in staff’s brains, or they’ll get put on a backlog list which never sees the light of day. Without a culture of Teamwork, new ways of operating will fail due to technical or political hurdles which are only surmountable as a team. And complicating all of this even further is the fact that, when it comes down to it, these two concepts have an in-built friction. See extra details on innovation culture.