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Software is Eating the World

Cloud. Mobile. Digital. It’s hard to turn a corner today without hearing something about these technology trends. In an IDC report from November, 2015, 67% of CEOs said they were betting on digital transformation. It’s at the top of the CEO agenda for good reason. It is hard to find an industry or sector in the economy today that is not being disrupted by software.

Software has gone from being an internal operational and employee productivity tool, to being at the core of how companies operate their business and serve their customers. If CEOs today do not act with the speed and decisiveness necessary, they risk a more “digital” company entering their markets and taking the bulk of the profits. Strategy consulting firm Innosight concludes that 75% of the S&P 500 could be replaced due to “creative disruption” in the next 15 years. Companies that do not embrace digital will be left with being commodity producers of goods and services at best, or at worst, will simply go away.

Innovative CIOs are Leading the Way

With the new strategic imperative of digital transformation, comes the search for the right organizational alignment to drive its success. Digital transformation impacts all stakeholders in the company—employees, customers and partners. Someone must lead to build a common enterprise-wide digital platform and drive alignment between IT and the business. Organizations have taken a variety of approaches over the last several years, breaking digital out from under the CIO, bringing on a Chief Digital Officer or Chief Technology Officer, or putting customer-facing technology under the CMO. There is no one “right” approach, however Okta does see a clear trend. Innovative CIOs across industries are taking the lead in coordinating digital transformation across the enterprise. There may still be a CTO building a customer-facing digital experience and a CMO coordinating all the digital