According to Gartner: “By 2020, 100% of IT roles will require intermediate level of proficiency in business acumen”
Experts and analysts all agree that CIOs, CTOs, IT leaders, and IT teams must make a shift on their focus— and besides managing efficiencies in their IT operations, they also must spend effort in collaborating and communicating more effectively with the business areas, to assist them determine how IT can help them in their digitalization and transformation efforts.
Development of Business Skills in IT Teams
This shift on focus requires everyone at all levels of the IT organization—from the development and operational teams, to the CIO— to develop and acquire more business skills. It is now a prerequisite for IT success, and no longer an option. IT teams must understand “how to assess the needs of the business areas” from the operational to the strategic level; and how those needs in the business areas can be enabled and sustained with IT. To accomplish that IT teams must change their communication approach, and raise their awareness of the overall business context. To create, enable and sustain business value, IT teams must be able to assess and understand “how to” create a positive change in a business process, or on people, workflows, business management decision making, and end-customer experience and satisfaction.
This brings this discussion to our company’s EVC Framework. EVC (which is an acronym for Enterprise Value Creation) has been a 20 plus years’ effort. Before releasing the new EVC Framework version 3, we spent the last few years studying and assessing in detail all other common frameworks; and realized that none of them provide IT teams an effective structure and process on “how-to” effectively impact and enable end-customers’ needs; such as: how IT solutions can increase sales, expand markets, generate more leads, satisfy customers, retain employees; etc.
The EVC Framework v3 provides teams—in internal IT organizations, as well as in technology vendors— with the necessary competence and structure to:
- Assess the business strategic and operational needs.
- Identify benefits in all business areas.
- Assess how any IT solution will create a positive effect on an internal or external customer business process.
- Assess the uncertainty of a benefit.
- Quantify any benefit in economic terms, and forecast improvements in an objective way.
- Assess, quantify and measure “intangible benefits”.
- Identify any resistance by all stakeholders (inside and outside IT), and get their commitment and agreement on how the benefits will be measured and realized.
- Determine the necessary pace, magnitude of impact, and urgency of any project.
- Ask the business area teams the right questions, to collaborate effectively with them in the realization of the value of every IT initiative and IT service.
I encourage you to contact me or anyone in our staff, to learn more about the EVC Framework v3, and give you a presentation and demonstration of the elements, principles, and enabling tools, which will allow your complete organization develop the necessary business acumen required to help the business in this new digital age.
President and CEO