Strategies to organise for innovation and address roadblocks vary Technology initiatives need someone to champion the project. That champion can be an executive sponsor or accountable executive whose goal is to garner buy-in and move projects forward. In nearly half of organisations, that person is the chief innovation/strategy officer, while in close to one in three organisations these responsibilities fall to the chief technology officer (or equivalent). Innovation cannot happen without building a business culture that fosters innovation and extending that culture takes people, skills and agility. For one in three organisations, the most important element for maintaining an innovative organisation is fostering an innovative culture, while for one in four organisations the top considerations include leveraging agile concepts and creating the right processes and activities. However, there may be a disconnect between processes, culture and people: Only 16% of organisations indicated that hiring the right talent is the most important consideration. These findings raise an important question: Do you believe your IT organisation has the right processes, talent, and culture to focus appropriately on innovation and transformation efforts? Home Key findings Executive summary View infographic Call to action Join our webinar Industry Insights Regional Insights Do you believe your IT organisation has the right processes, talent and culture to focus appropriately on innovation and transformation efforts? Which of the following best describes your organisation's top three challenges when it comes to innovation? Image Do you believe your IT organisation has the right processes, talent and culture to focus appropriately on innovation and transformation efforts? Who is the key person responsible for driving innovation at your company? Image Which of the following areas do you consider the MOST important for maintaining an innovative organisation? Image In regard to the top approaches organisations are using to help drive innovation and achieve the desired results, two out of three are turning to agile and more than half are employing design thinking. This is a positive sign showing that newer ideologies are being adopted by organisations to fuel innovation. Approaches being used to help drive innovation* Image *Question: Are you using any of the following approaches to help drive innovation at your company? Obtaining executive buy-in, particularly at the board level, is critical to driving successful innovation programmes. How well do innovation leaders bridge the gap between technology and business needs at your company? Image Organisations have a relatively positive view when it comes to their ability to bridge the gap between technology and business needs. That said, less than one in three organisations self-report doing “very well” in this area, suggesting there is more work to be done when it comes to understanding innovation goals and their alignment to the business. There are more positive signs when it comes to IT partnering with the business, with high levels of collaboration reported in areas including innovation strategy, strategic leadership and knowledge sharing. But an estimated one in three organisations indicated collaboration levels are relatively low in areas such as innovation culture and processes as well as talent upskilling and retention. Of particular note, business and technology leaders in two out of five organisations are not collaborating effectively when it comes to educating non-technical board members on the benefits of innovation investments. Obtaining executive buy-in, particularly at the board level, is critical to driving successful innovation programmes. Obtaining executive buy-in, particularly at the board level, is critical to driving successful innovation programmes. A call to action for technology leaders Learn more Notable Observations – Industry and Region Industry As expected, regulatory and compliance requirements represent the top innovation challenges for financial services organisations (16%), though they appear to be more significant for numerous other industry groups. Talent management, including upskilling, staff retention and resource capacity, are of greater concern to technology organisations compared to those in most other industries. For consumer packaged goods, financial services and technology organisations fostering an innovative culture is considered to be of greater importance to them compared to other organisations. 24% of organisations in the biotechnology/medical devices industry indicate that regulations and compliance requirements are a key challenge for innovation activities. Region For North America, the top three challenges for pursuing innovation are regulatory and compliance requirements, security risks, and lack of diversity of perspective. European - based enterprises say that regulatory and compliance requirements are the top challenge for innovation. Regardless of region, respondents claimed that a chief innovation/strategy officer was the key person for driving innovation. Explore the results Pro Document Consent Innovation is a clear goal for most – strategies and approaches are still works in progress Innovation is critical in an ever-changing business environment. Organisations that fail to prioritise innovation are more likely to fail. Pro Tools Gear Strategies to organise for innovation and address roadblocks vary Innovation cannot happen without building a business culture that fosters innovation and extending that culture takes people, skills and agility. Pro Digital Hightech Technical debt remains a major burden (on an organisation) As organisations strive to increase their focus, and time and resources, on innovation, technical debt becomes a significant concern and burden. Pro System Security Innovation elevates security concerns While many organisations are pursuing an innovation agenda, security risks are on the minds of many technology executives. Pro Document Folder Attracting and retaining top talent drives technology adoption and innovation Organisations are deploying a number of innovative and emerging technology tools, but there is significant disparity in the findings that seem to depend on the maturity and benefits of each technology. Pro Location Globe A call to action for technology leaders Read about steps companies should undertake or continue over the near term to ensure they can increase their agility and sustain their innovation and transformation journey successfully over the long term. Pro Rightmark Square Survey methodology and demographics Protiviti surveyed more than 1,000 CIOs, CTOs, CISOs and other technology executives worldwide to ascertain the status of several concepts around innovation and technical debt. Pro Screen System Integration About our Technology Consulting solutions Whether you are looking to automate, modernise, or embark on an end-to-end transformation journey, our technology consulting solutions can help. Leadership Sam Bassett Sam is the country leader for Singapore. With over 25 years' experience, he's primarily worked in financial services with consulting firms or directly in the banking industry to deliver change and support strategic, tactical, and operation goals across Asia, Europe and ... Learn More
