A majority of enterprise technology projects (61 percent) are now funded by the business rather than the IT department, and IT spending driven by the functional business areas will continue to outpace IT spending by the IT organization in the future, according to a new survey by IDC.
Among the key drivers of this trend are the growing adoption of cloud-based services and big data/analytics, according to IDC, which surveyed 1,200 line of business executives in September 2013.
"Technology has long been central to improving business processes, enabling greater speed, efficiency, and reliability," Meredith Whalen, IDC senior vice president, said in a statement. "As businesses embrace the Third Platform, built on cloud services, big data analytics, mobile computing and social networking technologies, they are taking the critical first steps toward business process transformation and, in some cases, business model transformation. With such high stakes, the business is increasingly taking a front seat in technology initiatives."
Today’s business executives are more tech savvy, have easier access to technology through the cloud, and are under pressure to implement new technology initiatives more quickly, IDC says, so it’s not surprising that line of business executives are spearheading more IT projects.
IDC recommends several key ways IT can improve its relationship with business to successfully execute and implement innovative IT projects: learn the business and unique business processes; bring new process ideas on how to run more efficiently; build relationships with key stakeholders in the group; and bring new technology ideas that could positively affect the business.
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