Are you still using the same personal mobile phone and tablet in your personal life as you did just 3 years ago? Most are quick to adopt new technology and all its capabilities, such as the iPhone 4 or 5, iPad with Retina Display or the Samsung Galaxy.
But I am going to guess that most of you are using the same technology as you used in 2010 (if not much older) in your work life – whether a board member, executive, risk, or assurance professional.
Why is that?
Are you aware of how much technology has advanced in the last few years – when there have been as much innovation and progress as in the prior decade?
Or are you so satisfied with your current systems and tools that you see no need for change?
Are you so invested, so deeply tied to legacy applications that are held together and are connected by a combination of string and duct tape that you can’t move?
Is your organization sufficiently agile to take advantage of new opportunities? If you are in the process now of evaluating and implementing the technology of last year, how quickly will you be able to leverage new technology that appears this or next year?
This may be worth a few moments of introspection and discussion within your organization and/or team. For example, many are saying (Gartner, McKinsey, IDC, etc.) that so-called “big data” represents great opportunities, especially when combined with new analytics and in-memory technologies. Yet, only 54% of organizations have a strategy for big data. Few risk and audit professionals are using the latest in analytics, including mobile BI and predictive analytics) to detect potential risks, even fraud.
If you are not taking full advantage of technology advances, you are probably not optimizing the business now and putting its future at risk.
So many questions. Do you have answers to share?