ICT Africa Headline News

'ICT Transforms Business, Offers Huge Benefits'

16 July, 2014

Source: The Guardian

THE role of technology as a critical transformation tool in today's business has been reiterated by experts at the quarterly Information Value Chain (IVC) Breakfast Forum organised by Digital Jewels recently in Lagos.

The Information Value Chain Consulting and Capacity Building Firm with a focus on Africa has been consistent in creating the platform for knowledge sharing, information exchange and business networking in the Information and Communication Technology (ICT) industry.

Speaking as the Special Guest at the business meeting, Diamond Bank Chief Information Officer, Abiye Koko in his presentation titled "IT as a Platform for Growth: The Diamond Bank Case" explained that technology has greatly enhanced the bank's business operations which had impacted on its bottom line.

He said the bank was able to deploy technology to deliver customer value through efficient service delivery and satisfaction, while growing the volume of business transactions.. Koko noted that Diamond Bank has successfully deployed the strength of information technology as a business enabler through its many products and services such as mobile banking, online banking, debit and credit card transactions, foreign currency transfer online and branch support among others.

Highlighting essential indices and critical factors to a successful deployment of information technology as vital transformational tools in an organisation, Koko said top management's support as well as customers-centricity must be assured.

He advised that businesses should embark on strategic alignment of information technology initiatives through value driven information technology investments; strong IT-business relationships and effective communication through organisational buy-in and adoption; IT and business expectation management; effective vendor management and partnership; and the deployment of a root cause analysis approach to issue resolution to maximise the benefits of information technology for business growth.

Digital Jewels Managing Director/CEO, Mrs. Adedoyin Odunfa in her presentation titled "IT Growth Models" said information and communication technology enhances business performance and enables organisations to do things faster and achieve more with wider mileage and better results.

According to her, deployment of information and communication technology enables business ubiquity that makes location irrelevant and ensures that there is no barrier of time and season as business is done all year round.

Odunfa reviewed various modern cloud based transitions and options that Infrastructure, Software, Platforms, Business, Management, among others, which can enable business growth when deployed appropriately as a service. She stressed the objectives and target audiences of each option whilst weighing the pros and cons.

Also considered were emerging workplace trends such as Bring Your Own Device (BYOD) and the Internet of Things, Stressing that appropriate governance and management structures must be in place for organisations to benefit from these innovations, Odunfa shared a number of applicable global best practice frameworks.

The Information Value Chain (IVC) Forum is a quarterly gathering of ICT and business professionals. It provides a platform for knowledge sharing, information exchange and networking for executives as they climb the corporate ladder. This interactive Forum helps executives to keep abreast of pertinent trends on increasingly important issues which can affect their individual and corporate competitiveness.

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