In this episode of the #VoiceOfVeritas podcast, Zoe Sands, Social and Community Marketing at Veritas interviews Phil Lewis, Senior Director of Global Strategic Partnerships Alliances on how an Enterprise can stop becoming obsolete. This podcast follows on from his recent blog on the same topic.
Enterprises need to innovate and expand into new markets to survive, invest in new technologies or risk stagnation or become obsolete says Phil Lewis. In order for a board to approve large scale IT projects, you need to show how the investment will help grow the enterprise, reduce costs and or reduce risks for an IT budget to be signed off. Phil also mentions in the podcast a formula developed by McKinsey (2009) for allocating IT budget, called; the Three Horizons Model, which allocates resources; people and budget. The model splits the IT budget into three uneven buckets; first you allocate 70% of budget to existing technologies, secondly allocate 20% to fund new technologies that currently exist today but are not used, and then finally allocate 10% of the budget to be used to look at new technologies that aren’t in the market at the moment. Using this model will help future proof your IT spend.
Phil also mentions how Veritas can help enterprises grow, reduce costs and reduce risks. Listen to the podcast to hear Phil talk about how an Enterprise can stop becoming obsolete. If you found the podcast interesting please do share it on your social networks.
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