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Managing technology innovation

Managing technology innovation

Insights for technology companies on driving, measuring, fostering, and overcoming barriers to innovation

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Simon Nicholas

Partner: Audit and Advisory

KPMG in the Isle of Man

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Managing technology innovation

Technology innovation moves rapidly and does not adhere to the annual review and funding schedule that most orgaisations follow. This makes it difficult for companies to decide which transformational technologies to adopt, when to adopt them, and how to integrate them with, or even replace, existing systems. It makes sense, then, that for the second year in a row, the Chief Information Officer (CIO), who see their role becoming more strategic, was named the top driver of innovation in KPMG’s Technology Industry Innovation Survey.

Function driving innovation

Direct financial results were again prominent in this year’s findings as the top metrics to measure the success of innovation. Technology industry leaders ranked market value as the top metric, followed by return on investment (ROI) and revenue growth.

We also asked our survey respondents to select the one approach they felt is most effective for an organisation to motivate its employees to be innovative. Millennials rated financial incentives as the most effective motivational method by a two-to-one margin, reflecting the evolving maturation of this generation. More experienced leaders (Generation X and Baby Boomers), who are further along in their career path and life phase than Millennials, rated financial incentives and career progression almost equally.

Motivating innovation

In terms of what is preventing tech companies from monetising their innovations, either in the form of new revenue or cost savings, the top barriers named by survey respondents were:

  • Measuring ROI
  • Cybersecurity
  • Privacy governance
  • Legact IT infrastructure
  • Regulatory compliance

 

Download the report to learn more.

The term Partner refers to a member of KPMG LLC / KPMG Audit LLC.

© 2019 KPMG LLC, an Isle of Man limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

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