Investing to capture value

INVESTING IN IT TO CAPTURE VALUE

In today’s competitive business climate, IT investments have fallen to budgetary concerns. But in fact, investing in IT now, more than ever, can create value for the future.

By Lim Beng Choon

I have a bone to pick with my previous bank. After moving house, the bank continued to send my statements to my old address despite repeated attempts to inform them of the change. Several letters and phone calls later, I moved house again—but the bank continued to send my statements to the old address.

There was only one thing to do. Close my account and move my business elsewhere.

How many of us have similar frustrations with our financial institutions?

Is this a case of technology gone awry? I beg to differ. It is easy to blame technology as the scapegoat. My previous bank is in the same boat as other  institutions and businesses across the country. The crux of the issue is acquiring the mindset to make IT investments part of building new business capabilities.

Successful IT projects have strong ownership under key business leaders and are a critical part of differentiating one business from another.

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