A Ray Of Light And An Action Plan - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

A Ray Of Light And An Action Plan

Panel members agree IT recession is lifting and the time is right to fund innovation.

Leading economic indicators indicate not only that the IT recession has begun to lift, said a panel of IT execs and an economist at the InformationWeek Conference on Tuesday, but that now is the time to fund innovation that will fuel a company's resurgence.

Lakshman Achuthan, managing director of the Economic Cycle Research Institute, said the advice of too many influential experts overshoots the peaks and valleys of recessions and booms. This happens, in part, because many people base predictions on old data when real-time data is needed, Achuthan said. Looking at real-time information such as the amount of cash available to companies, a nascent pinch in production capacity, and confidence in the economy, show that "a new recession is not imminent."

Achuthan was joined in a panel discussion about innovating in today's economy by Jon Carrow, director of global IT sourcing and acquisition for Wyeth Pharmaceuticals, and Ameet Patel, CTO of LabMorgan, a unit of financial firm J.P. Morgan Chase & Co. Achuthan forecasts a "sub-par but sustainable recovery."

History will judge his accuracy, but the question remains, what's the best course of action for a CIO right now?

Patel's strategy is "shrink to grow." As part of one initiative, his company is aggressively innovating by identifying manual processes that can and should be automated. Sometimes that can be a basic coding job; more often, it means holistically redesigning processes.

He and Carrow emphasized the need to consider redesigns. Sometimes the slate has to be wiped clean of "bolted on" products, procedures, and services, Carrow said. Single, elegant systems created from the ground up can save time and money. Ambitious projects like this still need to be rigorously vetted, of course.

Patel said he is always "leveraging tech around a quick ROI." Two years ago, he might have been able to sell a creative project based on a business plan missing the anticipated ROI, but no more.

Carrow went a step further, recommending that CIOs factor in the cost of altering or even abandoning IT projects and strategies. The best plans--even those based on leading indicators--will have to change.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Slideshows
Top-Paying U.S. Cities for Data Scientists and Data Analysts
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/5/2019
Slideshows
10 Strategic Technology Trends for 2020
Jessica Davis, Senior Editor, Enterprise Apps,  11/1/2019
Commentary
Is the Computer Science Degree Dead?
Guest Commentary, Guest Commentary,  11/6/2019
Register for InformationWeek Newsletters
Video
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll