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Tuesday 8 December 2009

IT becoming more important to improve business efficiencies according to McKinsey survey

In a recent global survey of CIO, CTOs as well as non IT executives, McKinsey found that, during the recession, IT has become more important to improving business efficiencies. 39% of those surveyed now see the primary role of IT to improve business efficiency vs 31% a year ago.

This bodes well for software and other IT products focused on improving business processes, making people more efficient and increasing productivity. Furthermore, in 2010, more than 45% of respondents expect to increase IT investment confirming our view that when a short payback and low operating costs can be demonstrated, companies are increasingly interested in investing in new IT projects. Reducing overall management costs of IT itself remains high with 60% of respondents expecting operating expenses to decline or remain steady. Financial services is the most bullish sector with regards to IT investment.

non-IT executives continue to say they want to forge a closer partnership with IT in order to improve performance and better manage risks and disruptions that lie ahead.

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  • At 25 January 2010 at 01:30 , Anonymous Philippine Outsourcing said...

    I completely agree with this. Improvements in efficiency are not that easy to obtain. For instance managers may find workers resistant to changes such as introducing new machinery or new working practices. This is because workers fear that changes will lead to redundancies. It can also take a long time for any new strategies to feed through into the form of increased efficiency. In addition, there can be a conflict between productivity and quality. Increasing productivity by its nature implies increasing the speed of production, and if managers are not careful this can mean that workers focus solely on quantity and not the quality of their work. -Jaime

  • At 6 December 2010 at 06:48 , Anonymous Gabriel said...

    I believe the contribution of IT to improve efficiencies in any ways is very evident as we can see fast communication is one, and when it comes to quality I think that is being taken cared of and the bonus part is the speed in carry out task. I never imagined this kind of ease when it comes to production and no one should be threatened because human and IT complement each other.

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