Not surprisingly, projects that generate revenue or focus on innovation and emerging technology are most appealing to C-suite leaders — but IT department budgets aren’t exactly reflective of this desire today.
New research from Deloitte shows that the average IT department invests 55 percent of its budget on maintaining business operations, with just 19 percent set aside for building innovative new products or capabilities.
Maintaining business operations is no doubt critical — especially when it comes to cybersecurity — but companies that were surveyed indicated that in the next three to five years, they would like to spend less on operations and more on innovation. That’s where big breakthroughs — and potentially big profits — lie.
There’s a parallel here to mobility programs. Take a look at Deloitte’s research and think about how you’d answer similar questions about your mobility budget. What percentage of your spend goes toward “maintaining business operations” and what percentage goes toward “business innovation?”
In the mobility world, logistics often reign supreme, so it wouldn’t be too surprising if you find yourself mostly (or entirely) in that first category. But if we draw this comparison out a bit more, think about ways to possibly invest more time and energy into innovation over the next three to five years. The day-to-day realities of mobility will never go away, but positioning your team as an innovative and strategic resource within your company can go a long way toward achieving business success.
For some help getting started, check out this piece for insight on how mobility leaders are approaching 2020 and beyond.
Seventy-two percent of CIOs say projects that are most appealing to CEOs and executive leadership are those that generate revenue or focus on innovation and emerging technology. Yet the average IT department invests more than half (55 percent) of its technology budget on maintaining business operations and only 19 percent on building innovative new capabilities.