I am not an engineer by background, but I am always interested in anything related to Tech, Innovation, current trends. Ever since I started working on Technology Sourcing projects, I consistently tried to feed my curiosity to learn about the technology I am supporting. How is it helping my bank? What problem is it solving for us? When I understood the role that technology plays in my business, I was well equipped to understand what my CIO and CTO want(s) to achieve.
The Traditional Target
The CTOs and CIOs have a very critical role to play in the success of an organization. They have to invest in advanced tech to keep the company competitive in market place, they need keep the organization agile and nimble, but they also have a serious responsibility to save/cut technology costs. Never goes an year, when that savings target is kept the same or dropped, essentially saying we need the best at lowest cost. Leaders in Tech partner with Vendor Management and Strategic Sourcing Groups to drive that cost savings agenda with the vendors. If the sourcing team (I’ll just call VMO and SSG that) team doesn’t understand the tech, the role it plays in the success of the organization, the nature and sensitivity of the relationship with the tech vendor, they will never be able to find the opportunities to support the tech leaders in achieving the cost target. Sourcing team has to and must play the role of a critical strategic partner to the CXOs so that they can deliver what they have to.