In a recent trip to San Francisco, I was remarking to a tech executive that it seemed like the number of "for lease" signs in the office buildings had doubled since the last time I had been there. Even though the flow of venture capital is dismal, he proclaimed that now is the ideal time to start a company.
Think about it. Start fresh--no legacy systems to worry about, no complex integration to manage because of mergers, acquisitions, or a bunch of internal systems that don't communicate with each other, no messy retrofitting or exorbitant spending to meet new regulations, a large talent pool to hire from, and the ability to start with a corporate philosophy that profits actually matter. Oh, yeah, and cheaper office space.
But for "old" companies that have to deal with those kinds of things, it's also a good time to invest in IT for business innovation. Take a look at what the 100-year old VF Corp. is accomplishing ("New Fashion") as part of a large-scale effort to build a common systems architecture. Let me give you the net-net, so to speak. That is: Technology investment can separate the winners from the losers in a highly competitive industry.
Examples like this reinforce our belief that technology continues to drive business innovation. I bring that up because over the past few weeks we've discussed a recent Harvard Business Review story titled "IT Doesn't Matter," a shortsighted article about the significance of an industry that to many of us seems to have boundless innovation. I think it's worth noting that every day we see examples of how technology is being used to improve customer service, to create real-time businesses, and to enable a level of collaboration in supply chains that shrinks the world.
So I guess if you believe IT doesn't matter, you also believe eating chocolate shrinks your clothes.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of October 9, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."