Digitization stimulates technology reform, improves the legacy system, and transformative initiatives that will keep organizations competitive.
In this article at CIO, Mary K. Pratt explains the significance of IT governance transformation in the digital arena. By testing the ability of conventional governance practices, organizations can take the best initiatives to improve them and deliver speedy results.
Time to Start Afresh
To take a U-turn and give a facelift to the existing governance practices, CIOs must collaborate with their C-Suite counterparts. The CIOs must develop a new paradigm for IT governance to accomplish the digital ambitions of the board, executives, customers and even stakeholders. The conventional IT governance lacks scope and agility to meet the digital needs of the business.
Need for Digital Facelift
Changing values while establishing new parameters to address risk and compliance, IT governance has become more significant than before in digital setup. To meet the emerging changes of digital infrastructure, experts suggest some updates:
- Change in Ownership: The senior leaders including the board of directors and executives must maintain governance efficacies. The CIO’s role should be limited to advising or validating the governance design. However, they can continue playing the critical role of stakeholders to ensure how governance operates across the organization.
- Shifting in Views of Enterprise Leaders: The IT and business leaders must consider good governance as a digital enabler rather than as a set of constraints. Good governance fosters agility and speed by creating improved decision-making policies at each level of the IT organization.
- Outcomes Over Processes: Digitally agile organizations promote an IT governance capability that is results-oriented. But to meet IT compliance and regulatory needs, organizations are devised to have a framework-oriented setup that ensures IT meets the changing market needs.
- Automation: By leveraging the automated technologies, businesses workflows and process will gain speed and consistency. Thus, the process layer needs a facelift to meet the digital needs.
- Tailored Governance Needs: Instead of opting for an established framework, organizations must design governance policies across the emerging business needs.
- Frequent Adjustments: Instead of waiting for a specific period to reform the existing governance programs, make periodic adjustments. The governance program must evolve with organizational principles.
Click on the following link to read the original article: https://www.cio.com/article/3326545/the-keys-to-effective-it-governance-in-the-digital-era.html