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Increase Your Revenue by Hiring a CIO

The common expression seems to be “If it’s not broke, don’t fix it.” However, energy supply business Global Partners realized this isn’t always the case, and they took the next step in making a great company even better. When they hired their first CIO, Ken Piddington, they were already making $6 billion in revenues. In order to continue the success, the business leaders realized they would have to prepare their IT department for the future. The result? Four years later, the company is worth $18 billion and still going strong.

When Forbes.com writer Peter High asked Piddington how he helped the company achieve their success, Piddington gave a lot of different answers, but he claims two key wins that helped the company in his first 100 days were: overhauling the help desk and reinventing the M&A Playbook. He also credits the relationships he formed working as a Global consultant in his pre-CIO days as giving him backup to lean on. However, becoming a CIO meant new challenges. Ultimately, he had to throw out a lot of his prior knowledge and start from scratch.

Because Global Partners was willing to take a risk and work with a new leader, they tripled their profits. While the rewards might not always be in the billions, Global realized what many companies continue to work on now. Take care of your IT department, and IT will take care of you. 

 

About Rachel Ginder

Rachel Ginder was a staff writer for CAI's Accelerating IT Success and joined the team in 2013. She also helped with social media and research.

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