Home > Risk > Are you using the technologies of 2010 to run the business of 2013 and beyond?

Are you using the technologies of 2010 to run the business of 2013 and beyond?

January 20, 2013 Leave a comment Go to comments

Are you still using the same personal mobile phone and tablet in your personal life as you did just 3 years ago? Most are quick to adopt new technology and all its capabilities, such as the iPhone 4 or 5, iPad with Retina Display or the Samsung Galaxy.

But I am going to guess that most of you are using the same technology as you used in 2010 (if not much older) in your work life – whether a board member, executive, risk, or assurance professional.

Why is that?

Are you aware of how much technology has advanced in the last few years – when there have been as much innovation and progress as in the prior decade?

Or are you so satisfied with your current systems and tools that you see no need for change?

Are you so invested, so deeply tied to legacy applications that are held together and are connected by a combination of string and duct tape that you can’t move?

Is your organization sufficiently agile to take advantage of new opportunities? If you are in the process now of evaluating and implementing the technology of last year, how quickly will you be able to leverage new technology that appears this or next year?

This may be worth a few moments of introspection and discussion within your organization and/or team. For example, many are saying (Gartner, McKinsey, IDC, etc.) that so-called “big data” represents great opportunities, especially when combined with new analytics and in-memory technologies. Yet, only 54% of organizations have a strategy for big data. Few risk and audit professionals are using the latest in analytics, including mobile BI and predictive analytics) to detect potential risks, even fraud.

If you are not taking full advantage of technology advances, you are probably not optimizing the business now and putting its future at risk.

So many questions. Do you have answers to share?

  1. January 20, 2013 at 8:13 PM

    Norman, I think everyone will agree with you that technology available and being used in the corporate segment has a lag of a couple of years, this has sound reasons, it is one thing to desire a new technology and an other to be able to adopt it and make it available in a reliable, effective and efficient manner.

  2. Norman Marks
    January 20, 2013 at 9:39 PM

    Thanks for the comment, Daniel.

    However, can organizations afford to wait a couple of years?

    Should they design their technology infrastructure to be more agile and flexible?

  3. charles reis
    January 21, 2013 at 5:28 AM

    Dear Norman,

    The questions you ask are certainly valid. However, the reality is that organisations are frequently “behind the times” in regard to technology, especially when it comes to IT, unless that is absolutely essential to their business model, where being at the crest of the wave means a competitive advantage. For that reason, I can’t see them catching up anytime soon.

    I believe that there is a view out there of “makind do” with what is at hand and not rushing to upgrade anything unless it is absolutely necessary; that is certainly the case in SMEs rather than the large businesses who can afford it and therefore should have no excuses not to plan to maintain themselves at the top where technology utilisation is concerned. Also, it would certainly depend on which area of the world are we talking about, I’d presume.

    Keep up the good work,

    Charles.

  4. February 6, 2013 at 9:34 AM

    Excellent…thought provoking article….

  5. April 5, 2013 at 10:50 PM

    You are so cool! I don’t suppose I have read anything like that before. So good to find another person with unique thoughts on this subject. Really.. thank you for starting this up. This website is one thing that’s needed on the internet, someone with
    some originality!

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