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
13 November 2020
CHOOSING THE CORRECT WORKING MODEL PART 1: ONSITE
‘Onsite’ is the most cost-intensive working model, and in the future, the need for onsite work will be less justified. Is your firm making the shift to remote or hybrid working models?
20 October 2020
CHOOSING THE CORRECT POST-COVID WORKING MODEL
There is a clear recognition that alternate working models have proved effective from both a productivity and cost saving perspective. The current remote working environment and collaboration models have been defined rapidly to help address the challenges posed by the pandemic. Discover how your firm can redefine its shoring strategy in this paper.
08 October 2020
FINCEN PAPERS REVEAL SYSTEMIC FAILURES IN FINANCIAL CRIMES PREVENTION
The earlier leak of the FinCEN papers has many implications, perhaps none more important than it demonstrates that FinCEN’s bank-led enforcement framework is not working.
29 September 2020
TECHNOLOGY SPEND PRIORITIES OF A POST-PANDEMIC CIO
As a CIO, do you have the tools and data to answer questions such as what is the cost of launching a new functionality or what instant reductions vs long-term gains to expect from postponing a project? Find out why a flexible and sustainable approach to IT spend management is now more important than ever.
19 August 2020
4 FACTORS DRIVING CYBER PROGRAM NEEDS
Developing a robust cybersecurity program has never been more important, with most pre-COVID-19 breaches occurring due to employee errors – expect this to worsen, given the rapid change in the way businesses operate.
19 August 2020
FIVE CYBER SECURITY TRENDS FOR 2020
The need for cybersecurity in the financial services industry has never been greater. Financial Institutions (FIs) have been and will continue to be the subject of cyberattacks by adversaries of all varieties. Given the magnitude of this issue, we have listed the top trends we’ve gleaned from our client work over the last year.
14 July 2020
POST-CRISIS WORKFORCE TRANSFORMATION: EMBRACING THE CHALLENGE
Post-crisis, workforce organization structures need to become much more adaptable to change. Find out what a successful, future-oriented return-to-work strategy involves.
29 June 2020
HOW TO REFRESH YOUR DIGITAL STRATEGY TO PREPARE FOR THE 'NEW NORMAL'
In this article, we share the three phases organizations can follow on their journey to embrace new ways of working, in light of the ongoing pandemic.
29 June 2020
COVID-19: WINNERS AND LOSERS IN PAYMENTS
COVID-19 continues to demonstrate the vulnerability of the economy and businesses today. So is cash still king, or is the future of the wallet digital? We shed light on the performance of payments players during the crisis.
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