Information Technology. Ten years ago, this concept was limited to only a handful of people. Digitalization, Computer Science and Systems Engineering are scopes that were not handed to average businessmen or so was the assumption.
Today, it couldn’t be more different. As we emerged in the market where internet is a word eaten for breakfast by toddlers, it is natural and imperative to take it seriously. This November, we were given the chance to sit down for a brief but majorly informative discussion with the Institute of Corporate Directors to discuss the matter of IT Governance in business and how every board member must be knee-deep involved in that huge but slightly taken for granted aspect of the company.
For startups, it is not an issue whether you are well-versed or skilled when it comes to innovative technologies- it is a given. However, it can be a different matter when you have partners who are or can be technically challenged. It may not be a case of lacking expertise but it can be a matter of senior leaders being uninformed about its relevance.
As for the speaker Engr. Dante B. Briones, “Leadership must allocate IT governance in the business process and it should be aligned with the business strategies.” [Maybe] Few of the board members understands and monitors the IT aspects of business as represented by the lack of IT strategies. Philippines may be slightly behind compared to the advances in technology in comparison to first world countries but what we lack in resources, we make up for being creative and innovative. For most established companies, delegation and restriction of technical tasks only to the IT Department is commonly practiced. Thinking that they don’t necessarily have to be involved. It should not be the mindset of a proactive and successful CEO. Briones, laid out a strategic IT framework or what is called CAMSS to educate about a powerful workflow process that every business can instigate and incorporate:
Composes of application, platform and infrastructure. Cloud computations are the way to approach the future. Whether it is for business or personal purposes, it is no denying that Cloud has made our way of life way, way better.
Analytics & Big Data
Big Data means making products and services more accessible and affordable to those who need them at the right time. It is the key to transforming the way entrepreneurs do everything from overseeing website development and design to the manner by which they communicate with current and potential consumers. It is a way to distinguish pattern of purchases and which is good for suggestive selling to customers who really want them.
Have you or your company taken advantage of bankless technology or paperless environment? Not only is it beneficial for everyone in the long haul but business management and everything in it is at the tip of your fingers. So generating revenues and getting closer to users is more vivid now as compared to ten years ago.
Whirlwind news especially if its political in nature can be depressing, we all know that and it vastly affects us and the people around us. But with the right balance to media and public exposure, this can be a tool worth using. It is needless to mention that without facebook, one can be considered outdated and ancient today.
This might be the toughest area in business to tackle. When your company wholly depends on your online presence- data confidentiality, data integrity and data availability is always at risk, said Briones. You might be surprised to learn that common breaches comes from unprotected internal process. It is also common that due to denial of service, disgruntled employees or customers can be a source of threat. So how can you protect yourself? The answer is you can’t. The only probable solution to this problem is resiliency alone. Assess where the vulnerability comes from and you can hire ethical hackers to get you through the nuts and bolts of analysis, understanding and securing your channels, Briones declared.