IMF Senior Executive Roundtable- takeaways and looking towards the future

In the last Senior Executive Roundtable, CIOs and IT Senior Executives shared what their takeaways from the interactive IMF forum sessions. The following are key points that were discussed:

1. Social Media must be a part of your IT strategy and within your scope of understanding. Whether you know it or not, your employees are already using Twitter, Yammer, Facebook, and a host of other technologies. CIOs need to understand these, and know how to use them for the organization’s advantage.

2. Virtual conferencing and other Virtual World applications have a real future. Private virtual worlds for company use have a place in the communication and collaboration strategies of the coming years, and the technologies are improving every day.

3. Differentiating value from hype is becoming increasingly difficult. Not every solution is right for every organization, but every cutting edge idea cannot be immediately discounted.

4. Real cost savings opportunities can be found in outsourcing, technology upgrades, and strategy changes, but uncovering these requires a strong organization that is willing to complete the underlying hard work.

5. The recession’s impacts on business and IT are significant, but companies that can position themselves well during the downturn will have significant advantages on the other side. “Across the board” cost cutting may solve the problems of today but smart cost controls, including strategic investments for growth, are much more effective in the long-run.

This year’s executive forum entitled “New economy, new strategies, new technologies: What’s Next” will explore topics such as technology driven innovation, operationalizing strategy, business alignment in the financial services industry, as well as feature two panels geared toward understanding IT future staffing models as well as the transformation the IT landscape will experience in the near future.

Members who have not registered to attend the event still have the opportunity to do so by visiting the IMF website.

Click here to view the agenda for the January 2010 Senior Executive Roundtable.

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