IT’s all about smart decision making
In a knowledge driven industry senior management needs access to information when required. Web-based technologies have and will continue to aid management on that front, says Arun Phadke, VP-IT, Nicholas Piramal
IT enables any business to run efficiently, but more than that it plays a role in business growth. Analytics provided by IT leads to fact and data-based decision making.
For example, when we have detailed information of demography, disposable income, purchasing patterns, and life styles, we get a better understanding of the customer and his or her needs. IT plays an important role in providing such information to the right people at right time.
Today, we talk about extended supply chains, on-time and real time organisation. Organisations are moving towards increased webification of the IT solutions. This enables usage of IT solutions anytime, anywhere, such as centralised ERP solution facilitates, and availability of the same information across whole organisation. Web-based portal enables organisations to extend the supply chain to suppliers, to distributors, customers, and consumers. I don’t think there is any limit for the CIO to use IT for Business.
The CIO needs to know the business drivers, business strategy and create a good fit of IT strategy with business to deliver the desired results.
In my opinion, assessment of value of IT is a mix of few tangible benefits and other intangible benefits. Tangible benefits will be reduction in process timing, business simplifications leading to reduction in manpower or improved productivity.