From an operational point of view your need for reliable information technology is low, while from a strategic point of view, your need for new information technology is of high importance. In other words, IT plays an offensive role in your organization as it is expected that the introduction of new technologies will transform your business. New technology could potentially reduce costs, optimize processes and increase your competitive advantage. Lastly, should an existing IT system be compromised, it will not have a serious impact on your business.
Based on the high strategic impact of technology in your organization, board oversight is critical for you. With technology playing such an important role it is crucial that IT plans go ahead on schedule and are budgeted correctly. Your board should consider including technology related topics as a fixed item on the agenda and, if necessary, setting up an IT “strategy committee” to support the board. Although the Chairperson need not be a technology “expert”, they should be tech “savvy” and be able to raise questions such as “Is our application portfolio sufficient to deal with competitive threats?” and “Do we have processes in place that will enable us to discover and execute any strategic IT opportunities?”.
Organizations usually enter Turnaround mode when they have a significant information technology project to roll-out and will, therefore, only be in Turnaround mode for a short period of time. Once the project is complete, organizations usually evolve towards factory or strategic mode. Specifically for your organization, it is important to streamline your IT strategy and investments while keeping an eye on emerging technology risks.
Based on your results, see below how KPMG can help your organization in setting up the appropriate governance structure and in identifying the critical questions to ask.
|Align your technology-enabled program and project portfolio with strategic objectives.||Optimize & Transform||IT Strategy & Management - Portfolio and Benefits Management|
|Stay alert for new and emerging technology risks.||Technology Innovation||Emerging technology risks|
|Improve your IT Strategy.
||Technology Innovation||IT Strategy & Organization|
|Find the full potential in your IT investments.||Optimize & Transform||Optimize IT investments|
|Providing assurance to your clients and regulators on how to manage your IT related risks and compliance requirements.||Prevent & Protect||IT Attestation services|