Technology spending can seem like a bottomless pit. As the cost of cybersecurity, big data and other tech-related categories goes up, CEOs are increasingly finding themselves sitting across the desk from their CIO and asking the question: What are we getting for the money we’re spending? Often, CIOs can’t give a straight answer, but we can.
Measuring IT’s impact is simply, “business capabilities divided by costs,” (or B/C). Much like earnings per share, this ratio can give you a quick snapshot of the effectiveness of your CIO and the results generated by your IT team compared to your investment.
The equation can be performed by weighing each capability according to its value (note: a capability is not the same thing as an application; a company may have thousands of apps but just dozens of capabilities). One way to weigh IT capabilities is placing each into one of four progressively higher-value categories: table stakes, differentiators, incremental revenue drivers, and innovations.
Dell recently used this approach to conduct software rationalization in its manufacturing and supply chain facilities. As a result of measuring its spending and return on IT, Dell found and replaced roughly 75 highly customized applications and reduced IT costs by $96 million a year, according to Forbes. And Dell is not alone. Multiple research reports suggest that about 85% of CIOs say their enterprise applications need to be rationalized.
Is your CIO giving you the metrics you need to make informed decisions that will help cut IT costs and increase IT effectiveness? Using a consistent measurement tool such as B/C ensures your IT spending is being focused in areas that will drive company growth, rather than investing in technologies that don’t provide maximum return.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
