Accounting standard ASC606 is a notable change to the way revenue is recognized and reported from contracts. Organizations have mostly managed to track and analyze revenue from contracts using a myriad of tools (spreadsheets!), and subsequently enter results into the GL when revenue was recognizable. That may no longer be an option; the new standard…
What is change management? Change management is the discipline of leading individuals, teams and entire organizations through organizational change via a combination of behavioral and social sciences, information technology and business solutions. Companies today are focused on digital transformation — reinventing business models and processes using data and technology (cloud, mobile, data analytics, machine learning,…
Fewer technologies are hotter than artificial intelligence (AI) and machine learning (ML), which mimic the behavior of the human mind to help companies improve business operations. And for companies embarking on digital transformations, AI and ML are being viewed as cornerstone technologies for wooing customers with new services. Aggressive marketing has triggered significant hype around…
Business intelligence (BI) is essential for business growth and competitive advantage, yet reaping benefits from BI requires more than implementing the technology that enables it. In fact, deploying the technology is the easiest part of any BI initiative, according to Boris Evelson, vice president and principal analyst at Forrester Research. Getting the personnel and processes…
Nothing lasts forever and that includes CRM implementations. At first, your CRM system won praise for increasing productivity. Over time, the story has changed. Complaints from customer service, the sales department and other units have emerged. Through the corporate grapevine, you find out that users are quietly switching to “shadow CRM” arrangements such as using…
Machine learning (ML) is fast becoming a litmus test for forward-thinking CIOs. Companies that fail to adopt machine learning for product development or business operations risk falling behind more nimble competitors in the coming decade. That’s according to Dan Olley, who as the CTO of Elsevier, the scientific and health information unit of RELX Group,…
Information Technology Infrastructure Library (ITIL) is near the top of almost every list of must-have IT certifications, and for good reason. ITIL practices are designed to help companies identify areas where they need improvement, providing vendor-neutral guidelines on where to make specific changes to reduce costs and increase productivity. Keep in mind: ITIL is not a…
There are, perhaps, no more vocal or assertive customers than airline passengers between connecting flights. Sometimes these hungry and harried travelers just need a hot coffee and croissant. HMSHost, a leading firm in the food and beverage space for travelers, is focused intently on that need. Sarah Naqvi, executive vice president and CIO at the…
Companies with an aggressive growth strategy require a unique IT strategy. This was the case in December 2015 when two entrepreneurial minded executives with broad experience in the debt collection industry founded Axactor-a debt collection and debt purchase company headquartered in Stockholm and Oslo. I was made aware of Axactor through a mutual friend and spoke…
I’m sure that every one of you who are CIOs recognizes that your role is more strategic than ever before. The digital revolution is driving every company to rethink how to leverage information and technology in new and innovative ways to create unique customer value. This places you in a unique leadership position to enable…