With the explosion of technology, we are going through the greatest shift in business since the internet. Never before has IT been in as strong a position to impact every operational decision and every business initiative. As they navigate this shift, technology leaders will benefit from putting increased significance on the time to value (TTV) as they race to support the business with the latest services and tools for growth and change management. CEOs are looking to IT for this type of leadership: Gartner’s 2017 CEO survey showed that after growth, IT-driven business change is their second most important priority.
As technology advances even further, it promises to boost business innovation and encourage the emergence of new products and services. As a result, there is more pressure on enterprise IT, and a need for fresh strategies and agile application services that will address changing expectations in customer experience and business demands. Speed plays a critical role in creating competitive differentiation, and all bets for this race are on the leaders who prioritize an agenda that accelerates TTV.
To achieve efficient TTV, you need to consider your systems, processes and resources. A modern enterprise IT requires new operating models, new digital skills and new technologies to support the acceleration of digital transformation and harness the benefits it brings. Almost every day, new applications and tools are developed to address the mandates of a modern business. Whether the applications are fostering growth and innovation, enhancing security and improving customer experiences, or transforming the business to compete in the new digital world, the effectiveness of technologies such as edge computing and hybrid cloud will depend on the speed at which they are deployed.
One way to improve TTV is to use strategies that adopt application development based on microservices, rather than a traditional monolithic approach. This enables the development of functionalities on the go, with multiple releases planned on a daily basis rather than quarterly. Elsewhere, advances in automation make it easier for applications to be tested and optimized for performance and faster release cycles. The combination of an agile software methodology and digital infrastructure is helping companies accelerate business functionality rollouts and seize the TTV advantage.
In my opinion, the emphasis on TTV can be relevant for every sector that has customers. The business economy in the new digital world is highly consumer-driven, and people have more choices, less loyalty and greater expectations from the products and services they buy than ever before. Therefore, being able to quickly extract value from the technology used as part of the customer experience can have a direct impact on the competition.
For example, in banking, faster payments and resolution of account issues can help to improve customer experience, loyalty and trust. But only when equipped with a modern infrastructure can an enterprise truly accelerate TTV and enable application services at speed and scale. Sectors in which being first to release new functionalities is a competitive advantage, such as in utilities and communications, can benefit from focusing on accelerating TTV for application services as well.
While it’s true that speed begets TTV, I believe it’s important to realize that a modern infrastructure, coupled with agile application services and a DevOps-enabled product management ecosystem, is the foundation for speed. The organizations that adhere to this principle will have a competitive advantage. Businesses are going through a brutal disruption thanks to digital trends such as blockchain, AI and the cloud, and digital technology will continue to provide companies with ways to compete, grow and innovate. The organizations that win the race will be those that use these technologies first, extracting value quickly from their applications and operations. Time to value should be a priority for every technology leader preparing for the future.