CIOs adding to Business Revenue

Businesses Look to IT for new Revenue Streams

The pandemic has caused a shift in priorities for many businesses as they navigate these uncharted situations. This in turn has led companies to look beyond their previous revenue streams to departments with rising potential, particularly IT. By default, IT departments help sustain revenue with business continuity, helpdesk support, and compliance – improving productivity and efficiency throughout organizations. But now companies are looking to them for new ways to contribute to the bottom line as a direct result of the pandemic’s demand for tech services and support.

In our previous article, we highlighted this historical rise in tech investments that organizations have been making this year. Further emphasizing the potential IT has for growth and profitability in the marketplace. For CIOs, this brings about new challenges, as they “really have to drive revenue and business outcomes directly,’’ Iyengar, a Gartner fellow, says. Shifting mindsets from IT cost centers to new revenue streams is no easy task, however. CIOs now have to manage this new responsibility for revenue-driven results as they’re knee-deep in digital transformation. But we are confident that CIOs will be up to the task – innovation and change is nothing new to IT professionals and we are excited to see technology come to the forefront in the coming months.

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