THE RECIPE FOR SUCCESS

JAMES PETTER, GENERAL MANAGER, INTERNATIONAL, PURE STORAGE, ON TRENDS THAT WILL DETERMINE BUSINESS SUCCESS IN 2022

With uncertainty rife going into 2021 (and for most part of the year), flexibility and agility were organisational priorities. As such, adoption of hybrid work as the defacto operating model and a significant pivot towards more as-a-service technology investments were two key trends we witnessed across the region.

Based on the learnings of the past year, here are a few trends that I believe will have a significant impact on businesses heading into 2022.

Failure to retain top talent will cripple businesses

As the worst of the pandemic subsides, and life starts returning to normal, businesses may be faced with a new crisis: employee attrition. The technology industry is not immune to the great resignation that hit the US this summer. This is a global trend that may continue well into 2022 as employees voluntarily reassess their workplace options and change their priorities.

To set themselves apart and retain their employees, the industry may see businesses starting to shift travel and expenses (T&E) budgets towards higher salary levels as well as offering flexibility on benefits with an even greater lens on diversity and inclusion. Currently, the high costs of recruitment and high salaries being thrown around are unsustainable — there needs to be a levelling out, and this will be a key focus for businesses in 2022.

Businesses will increasingly embrace a new ‘invest to grow’ mindset

The pandemic has dramatically changed how business leaders view IT spend. Over the last 18-24 months, businesses witnessed a power struggle between the CEO’s growth perspective and the CFO’s pullback perspective. With businesses under huge duress, the CFO came to the fore and dominated. However, we’re now at a tipping point with the power shift more finely balanced between the two — and the CEO winning back the conversation.

In 2022 we’ll increasingly see businesses investing in new ways of

delivering their products or services, while retaining the overall value of their brand. For example, there will be exponential growth in areas such as as-a-service (aaS), managed services, subscriptions and the cloud, as businesses look to partner with specialists for their ‘IT plumbing’ so all the focus and attention can go towards optimising the brand and their products. Businesses are shifting their psyche — increasingly wanting hosters and integrators to do everything for them instead of depending on a private cloud run by their own people.

This will keep the CFOs happy because they won’t have the same cost implications as before and the CEOs happy as they’re getting that growth trajectory that they’re looking for. Brands will increasingly cross the chasm between the old and new world, while trying to get their heads and procurement models around subscription models. By my reckoning, we might be 30% further forward in terms of pre-pandemic but there’s still a lot more legacy thinking and technology to shift. It will happen though, as the stock market continues to hammer any businesses that still buy in a legacy way.

CEOs must become more decisive and IT-literate than they’ve ever been

As a result of the pandemic, CEOs will become more authoritative in their decision making. And this is true across all industries. The risk of making a mistake right now is very damaging for any business, so they’ll need a decisive leader in place to allow them to come out of this period stronger than ever. To make these decisions effectively, it’s critical for CEOs to have far more depth and breadth of understanding of their company, as well as the data they have and how they can manage it to the extent that data must be considered a balance sheet asset. This requires CEOs to be far more IT-literate than they have ever been.

As a result, we’ll see them leaning on and working more closely with the CTO and Chief Data Officer (CDO) to fully grasp and understand the value of their technology and data. This applies especially to areas such as containers and Kubernetes to ensure businesses can fully embrace automation, mobility, and agility, and be dynamic in the way data moves throughout their business.

THE RISK OF MAKING A MISTAKE RIGHT NOW IS VERY DAMAGING FOR ANY BUSINESS, SO THEY’LL NEED A DECISIVE LEADER IN PLACE TO ALLOW THEM TO COME OUT OF THIS PERIOD STRONGER THAN EVER.

Businesses will face dire consequences if they don’t comply with ESG regulations

As a society, we all have a responsibility to do more to use less power and create less of a carbon footprint. This is not just a trend — the planet is dying because we’re doing bad things to it. The myopic view of business success being based purely on measuring how much money comes in and goes out will become a thing of the past. In 2022, companies must be valued by their commitment to ESG.

As such, we’ll see governments putting restrictions or applying greater tax on companies that don’t comply with certain ESG regulations. ESG will become a balance sheet item where companies must declare the amount of carbon they’re producing and whether they’re offsetting it sufficiently. Data will be key to this. If companies want to be more efficient, they will need to mine their data to identify patterns and trends, which will inform them of where they’re causing the most damage so they can get to work on fixing it.

The rapid changes society has undergone over the past 18 months, present an opportunity for forwardfocused businesses. Companies that focus on their employees, make the right technology investments and prioritise ESG will stand to gain a decisive edge, not just in 2022, but for years to come.

THE RISE OF THE CHIEF DIGITAL OFFICER

TERENCE SATHYANARAYAN, MANAGING DIRECTOR OF PULSE INNOVATION SYSTEMS, EXPLAINS THE IMPORTANCE AND RESPONSIBILITIES OF A CDO

Chief Digital Officer (CDO) is a new position that has become increasingly common in organisations of all sizes. Companies are starting to realise the impact they can have on their customers via digital channels and many are hiring Chief Digital Officers to manage these efforts. While CDO’s may not be responsible for every aspect of digital marketing, it is important that they work with other department leaders to ensure coordination between departments and an effective digital strategy across the company. This article will explore what it means to be a CDO and why your company might need one.

The duties of a CDO vary based on the company, but there are some commonalities. The job title is relatively new so its meaning may differ across industries and employers. For example, in one organisation an individual might have “Chief” in their title to indicate their high rank in digital strategy, while another organisation may not use it at all. In addition, there is no universal job description for a CDO since the role differs from company to company.

However, according to us, most CDOs have similar duties:

Innovate and implement cross-

functional digital strategies: They develop and coordinate digital initiatives that leverage all departments within the organization and may work with outside vendors to help build the best solutions.

Engage with customers: The CDO manages digital strategy and initiatives that bring their company closer to customers. They stay on top of changing consumer demands and play a key role in customer experience management.

Oversee integrated campaigns:

The goal of a CDO is to create a seamless customer experience across all channels. They should coordinate initiatives across every department including sales, marketing, finance and more to make sure they are working together to give customers the best experience possible.

Troubleshoot and innovate: A CDO must be a leader who is prepared to face challenges with innovative solutions. This means they must stay on top of new technologies and trends that could potentially impact the company or their department.

Digital marketing has quickly become a top priority for many companies. There are billions of potential customers online and the web has made it easier than ever for them to discover new products and services. However, with so much digital noise it is important for companies to showcase their story in an engaging way that sets them apart from other organizations.

A CDO helps ensure that a company’s marketing efforts are properly coordinated and in line with the company’s overall strategy. This involves working with other department heads to ensure they are on task and following through with digital recommendations from the CDO. In addition, a CDO can help bring revenue into a business by improving customer satisfaction and conversion rates. Customers who have a positive experience with the organization via digital channels are much more likely to make purchases through other outlets such as in-store or by phone.

The role of a CDO has evolved over time and will continue to change as the digital landscape grows and evolves. More and more companies are investing in online marketing campaigns because they realise it is an effective way to reach consumers. Companies with a CDO have seen an ROI on their digital initiatives and are better positioned to take advantage of online marketing in the future.

There is a reason why the chief digital officer job is growing in popularity. The more companies invest in their online marketing strategies, the more they need someone to lead those efforts and keep them on track. In fact, studies have shown that hiring a CDO can add 5-15% to a company’s revenue within just 3-18 months.

It is important for businesses to have a strategy in place before going out and hiring a CDO. This will ensure that you can easily fill the role, rather than just picking a candidate who meets the minimum qualifications. Hiring a CDO requires a different type of person compared to other marketing roles. The CDO needs to be an effective problemsolver who can work with various departments to ensure that they are on the same page.

The CDO is a new position that has been created to help businesses navigate the digital landscape. CDOs are just as important in the digital landscape of today. This is because they can help their company stay on top of what’s happening in all aspects, whether it be marketing or product development. If you’re looking for someone to lead your team into this new era, hire a Chief Digital Officer today!