CIOs are increasing many organizations’ revenue streams. Is this a trend you’ve already read about? As fascinating (and wonderful) as it is, it’s not shocking to me that CIOs are driving innovation, and thus bringing increased revenue to their companies. In fact, it’s the cornerstone of what we believe in here at DCG: enabling IT to bring more value to a company.
An article entitled “Moneymakers” in December’s CIO magazine touches on this new development, wherein CIOs across industries are bringing in revenue in a variety of ways. While the position of the CIO has always had the potential to generate revenue, most CIOs do not directly become producers of revenue; rather, they support traditional revenue streams.
So, how do these innovative CIOs go about generating revenue? The key is to separate business processes from competitive differentiators.
Internal productivity is still an obvious priority, and IT is still in charge of maintaining the technological infrastructure; however, a sector of IT becomes dedicated to the new undertaking – and a CIO must be able to effectively divide his attention between both – or risk losing all credibility and trust.
It’s a new way of looking at and delivering IT with a focus on value creation.
How can you generate revenue within your company? Start with our Value Visualization Framework.
What do you think CIOs should be doing to benefit a company’s bottom line?