We are so thankful to all who took their time to participate in the 2020 Metis Strategy Digital Symposium. During this period of heightened uncertainty, it was especially encouraging to hear perspectives from global CIOs, CEOs, entrepreneurs, and investors about not only about how they are navigating the current challenges, but also how they are seizing the tremendous opportunities that have arisen.
Here are a few takeaways from the event:
The digital acceleration goes beyond the #WFH pivot. The pandemic forced many companies into to speed up their digital initiatives as they pivoted to remote work, bolstered cybersecurity measures, and began to automate a broader range of business processes.
In a poll of roughly 100 global CIOs who attended the Symposium, 42% said their digital initiatives have accelerated significantly, while 30% said they saw some acceleration. We have heard many CIOs say that digital projects that would have taken years under normal circumstances were completed in a matter of weeks, if not faster.
That acceleration appears poised to continue. CIOs noted that their firms have an increased appetite for transformation as they think about how technology can prepare them to emerge from the pandemic in a position of strength, armed with the digital tools that allow them to seize future opportunities.
This transformation requires more than automating tasks or cutting costs, however. Teams are now thinking about the broader changes across people, process, and technology that will make these transformation efforts stick.
People come first. Speakers noted that it is critical for leaders to openly acknowledge the human element of the crisis and the fact that people at every level of the organization are facing new challenges. Leaders continue to focus on ensuring their teams’ safety while working to create a sense of belonging.
It is critical for leaders to be visible and lead their teams with empathy, speakers noted. Overcommunicating – even to the point of sounding like a broken record – is essential, particularly while managing a largely remote workforce.
As the crisis wears on, many CIOs are also thinking about how to keep their teams motivated and productive, remove obstacles, and unleash their ability to innovate. That includes providing employees with the technologies they need to work productively and creating opportunities to gain skills that will help them thrive in the new normal.
Let customer needs guide new initiatives. A common refrain during our sessions was the need to focus relentlessly on the customer. This is particularly true in IT, where technology sometimes is deployed for its own sake rather than solving a particular customer need. CIOs noted that when they allowed customer needs to be a beacon for new initiatives, payoffs were often more immediate. They reiterated that a solution doesn’t need to be sexy to be effective, as long as it solves a key customer issue.
A customer obsession at the enterprise level, particularly with strong buy-in from the CEO and the rest of the C-suite, can also help break down organizational silos and provide a common cause for teams to rally around. CIOs noted that driving this customer-centric mindset requires a culture shift and new governance structures, but that the work is paying off.
Get the basics right. The quick and massive shift to remote work amid the pandemic changed the way many CIOs think about business continuity and scenario planning. It also created a heightened focus on security and spurred new discussions around the technology needed for employees to do their jobs effectively.
These discussions have driven home the need for companies to have a solid foundation in order for new digital initiatives to thrive. As companies plot their paths forward, many CIOs are seizing the opportunity to make sure the basics are as good as they can be. That includes reassessing enterprise architecture and evaluating systems and partner ecosystems.
Adaptability is a new core competency. Many CIOs noted the remarkable speed and adaptability shown by their teams as they pivoted to work from home and quickly shifted business processes to adapt to the new business landscape. Facing an uncertain future, the ability for organizations to quickly assess changing market needs and shift gears accordingly is becoming a must-have skill.
CIOs noted that in many cases their teams are more productive and moving faster than they ever thought possible. A key question now is how to maintain that momentum in a sustainable manner and ensure teams are chasing the initiatives that help the company meet its strategic goals. To that end, extreme focus and ruthless prioritization are critical, as is broad alignment across the enterprise.
As one CIO noted, it is important that technology leaders gain alignment with the rest of the organization rather than chasing new revenue opportunities for revenue’s sake. A shift to product-centered operating models is helping to drive that alignment, dissolve organizational barriers, and increase agility.
Look for the silver linings. While executives expect it will be many months before a return to some version of normalcy, speakers underscored a number of silver linings, including a renewed focus on strategic imperatives, an openness to new ways of working, and an increased appetite among corporate leadership to drive growth through digital.
While it is difficult to know with certainty what the weeks and months ahead will bring, there is nevertheless a strong push to identify and seize new opportunities.
The 2019 Metis Strategy Summit is in the books. At this year’s event, a distinguished group of global technology leaders, executive recruiters, venture capital investors, and others met in Dallas to share their perspectives on the key strategic and technological trends shaping business today.
Among this year’s speakers and agenda items:
For a full list of 2019 speakers and agenda topics, click here.
Special thanks to Xerox, Numerify, and CloudGenix for their generous support for the 2019 Metis Strategy Summit.
\To learn more or discuss potential partnership opportunities, please contact steven.norton@metisstrategy.com.
The Metis Strategy team is thrilled to announce the 2019 Metis Strategy Summit. Global CIOs from across industries will gather June 4-5 at the Gaylord Texan to explore today’s most pressing technology issues, share stories of innovation and leadership, and strengthen their professional networks.
The Summit agenda is below. For a list of confirmed speakers, please see the main event page.
Note: All times subject to change
5:00 p.m.
On-site registration opens
Location: Tate 5
6:00 p.m. – 8:00 p.m.
Welcome dinner, co-hosted by Xerox
Featuring a conversation between Metis Strategy President Peter High and former Mexican President Vicente Fox. The two will discuss geopolitics and North American relations, among other topics.
7:45 a.m. – 8:30 a.m.
Continental breakfast
Location: Texoma 2
8:30 a.m.
Opening Remarks
Peter High, President, Metis Strategy
9:00 a.m. – 9:30 a.m.
CIOs Driving Revenue Growth
In an era where every company is a technology company, IT plays a central role in driving top-line growth. In this conversation, Wayne Shurts and Lynden Tennison will discuss how he has leveraged IT to create revenue-generating products.
Wayne Shurts, Chief Technology Officer, Sysco
Lynden Tennison, former Chief Information Officer and Chief Strategy Officer, Union Pacific
Moderated by Peter High, Metis Strategy
9:30 a.m. – 10:00 a.m.
From Strategy to Execution Using Business Capabilities
As the lines between business and technology continue to blur, or in some cases become obsolete, technology and business leaders alike look for novel ways to improve organizational performance. In this panel, three technology leaders share insights into how Business Capabilities enable the continuous maturation of strategic and foundational capabilities across the enterprise.
Seemantini Godbole, Chief Information Officer, Lowe’s
Angela Yochem, Chief Digital and Technology Officer, Novant Health
Moderated by Alex Kraus, Vice President, Metis Strategy
10:00 a.m. – 10:15 a.m.
Entrepreneur Spotlight: CloudGenix Founder and CEO Kumar Ramachandran
10:15 a.m. – 10:45 a.m.
Becoming a Product-Focused Organization
IT departments across industries and geographies are embracing product-oriented operating models in an effort to boost customer-focus, agility, and collaboration with their stakeholders. In this discussion, three CIOs describe their journeys to a product-oriented operating model and share lessons from the front lines with peers looking to do the same.
Art Hu, Chief Information Officer, Lenovo
Srini Koushik, CIO and Chief Technology Officer, Magellan Health
Atticus Tysen, Chief Information Officer, Intuit
Moderated by Michael Bertha, Dallas Office Lead, Metis Strategy
10:45 a.m. – 11:05 a.m.
Coffee and Networking Break
11:05 a.m. – 11:35 a.m.
The Digital Imperative
Today’s IT executives face a mandate to drive technological and cultural transformations across their companies. To that end, their roles have expanded to encompass marketing, digital product development, and other business areas far beyond IT. In this discussion, Andi Karaboutis and Diane Schwarz discuss their expanded purview and share their experiences driving transformational change.
Andi Karaboutis, Group Chief Information and Digital Officer, National Grid
Diane Schwarz, Chief Digital and Information Officer, Hunt Consolidated
Moderated by Chris Davis, Vice President, Metis Strategy
11:35 a.m. – 11:55 a.m.
Fireside Chat with Steve Bandrowczak, Xerox
Steve Bandrowczak has had an extraordinary career path, serving as CIO at firms such as DHL and Lenovo before taking on broader leadership roles at companies including Avaya, Alight Solutions, and Hewlett-Packard Enterprise. Today, he is the President and Chief Operating Officer at Xerox, where he is helping the company define its next chapter as a global technology leader. Steve talks with Peter High about his career trajectory and how his previous experience informs his vision for the future of Xerox.
12:00 p.m. – 1:15 p.m.
Lunch and Networking
1:15 p.m. to 1:45 p.m.
Board-Level CIOs
Advice on making the most of your board appointments and growing into your role as a seasoned director.
Patricia Hatter, Board Member, Qualys
1:45 p.m. to 2:00 p.m.
Entrepreneur Spotlight: Numerify Co-Founder and CEO Gaurav Rewari
2:00 p.m. – 2:20 p.m.
Fireside chat with Sanjiv Yajnik, Capital One
Sanjiv Yajnik, President of Financial Services, Capital One
2:20 p.m. to 2:40 p.m.
Networking break
2:40 p.m. to 3:10 p.m.
Point/Counterpoint: Blockchain
An optimist and a pessimist debate the future (or lack thereof) of blockchain in the enterprise.
Ed McLaughlin, President of Technology and Operations, Mastercard
Neal Sample, Chief Operating Officer, Express Scripts
Moderated by Steven Norton, Metis Strategy
3:10 p.m. – 3:40 p.m.
Perspectives on Artificial Intelligence
Every new technology vendor these days markets itself as an AI company, a challenge for CIOs and investors trying to find the right solution for their firm. In this discussion, a VC and practicing CTO discuss how to find a true signal in a sea of noise.
Jeff Pashalides, Partner, Sequoia Capital
Pawan Verma, Chief Information and Technology Officer, Foot Locker
3:40 p.m. – 4:00 p.m.
Closing Remarks and Adjourn
12/18/2018
By Peter High. Published in Forbes.
Matt Harris has been investing in FinTech companies since before the term was coined. He was initially drawn to the field partially due to the lack of attention it was getting 20 years ago. As he notes, “In the beginning, the incumbents ignored the startups because they thought they were insignificant, and then once the financial crisis hit, they ignored them because they had far bigger problems to deal with.” This was to his advantage.
Now, with a great number of winning investments to his credit, Harris has developed deep perspectives in and made investments to follow those insights into the core four segments of FinTech are payments, lending, investing, and insurance. He also argues in this this interview that real estate is worthy for consideration as a fifth segment. This interview is a remarkable overview of FinTech.
(To listen to an unabridged podcast version of this interview, please click this link. This is the 30th interview in the Tech Influencers series. To listen to past interviews with the likes of former Mexican President Vicente Fox, Sal Khan, Sebastian Thrun, Steve Case, Craig Newmark, Stewart Butterfield, and Meg Whitman, please visit this link. To read future articles in this series, please follow me on on Twitter @PeterAHigh.)
Peter High: You are a Managing Director at Bain Capital Ventures where your area of focus is Financial Technology [FinTech]. Could you define some of the discrete segments that have emerged in FinTech?
Matt Harris: While I had invested in FinTech companies since before the early 2000s, it did not become my sole focus until roughly 17 years ago. At the time, there were not many VC firms that were similarly focused exclusively on FinTech, so I saw an opportunity to get involved. Back then, FinTech was mostly around vendors and about companies’ ability to build technology and sell it to financial services organizations. I called the buyers the incumbents, which were the existing banks, broker-dealers, and insurance carriers. From my view, these companies typically preferred to buy technology from other large organizations, such as Fiserv, FIS, Jack Henry, Accenture, and IBM. Because of this, the opportunity to build new vendors to help the incumbents be more successful was not there.
To read the full article, please visit Forbes
