CIOs have played a critical role in managing through the global pandemic to ensure continuity of services, but are now facing significant cost pressures as they look to accelerate technology projects within their strategy roadmap post-COVID to cushion the economic shock of the crisis.
To this end CIOs need to evolve how they manage IT spend in order to preserve critical investments to address the following key considerations:
- Adapting to new working paradigms via remote tooling and a reassessment of infrastructure capacity
- Enhancing both the resilience and security of information systems
- Supporting the business in respect of strategic issues such as digitalization and new customer experiences/journeys
- Staying committed to essential long-term transformations
At the same time CIOs need to be in a position to reduce the level of incurred expenses in a faster and more dynamic fashion in the event of a long-term crisis or a slower-than-expected economic recovery; and similarly, to increase spend to allow the organization to mobilize more quickly to benefit from any recovery.
Capco’s offering supports CIOs by:
- Transforming spend management to ensure cost transparency, demonstrate the performance and business value of the IT function, and create the right conditions to efficiently optimize costs
- Increasing the elasticity of their cost base by leveraging technology to effect a transition from fixed to variable costs in addition to adapting and transforming skills and ways of working, re-reviewing sourcing and partnerships strategies, and adopting agile methodologies