How CIOs and IT Asset Managers Can Partner for Success

CIOs and IT asset managers who are willing to partner up should give each other a digital high-five. That’s because, as Barry Levine for CIO Today explains, high-potential opportunities exist that cannot be properly accessed without the CIO-ITAM tag team. Levine reveals three stages for conducting this engagement, as detailed in a recent Gartner report.

Stage One: Advise To Help Reduce Risks

At first, CIOs should adopt the role of advisor for any technology procurement and risk management assessment. The CIO thereby becomes a digital risk mitigator in the “Internet of Things” era. The Gartner study states:

“A successful digital technology initiative [could] prove even more dangerous [in terms of expense] than a failed one, as software licensing costs to process and store data from the Internet of Things could grow exponentially,” 

Asset management, if not properly conducted, could leave a successful initiative without the proper resources to support customer demand. This, in turn, invokes the high costs associated with a rush to make fast product turnaround. In reality, a successful project may not even be part of the original budget.

Stage Two: Identify Internally Fundable Projects

Asset managers can help the CIO in terms of selecting business initiatives that are likely to attract the internal funding necessary for a project’s life cycle costs. This is especially true if the organization is large enough to support investments with slower returns. The asset manager can also help a CIO find shorter and more flexible contracts to hedge against initiatives that are unsuccessful or require more time and/or support to continue. 

Stage Three: Find Additional Funding

Citing that business users are better cost negotiators than IT service managers, the study suggests encouraging users to engage directly with suppliers. The benefit of this approach is, foremost, knowing the costs up front, and second, being able to formulate a better payoff strategy. The CIO can share costs with a business by determining who owns the asset, and by letting the business forge their own digital initiatives with CIO oversight to control for long-term scale. </p> You can read the full article at:

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