Gartner Research

Innovate New Financial Methods for Digital Business

Published: 03 November 2016

ID: G00308119

Analyst(s): John P. Roberts, Sanil Solanki

Summary

Successful digital business transformation may be slowed or substantially hindered by archaic financial controls that impede innovation. CIOs that adapt their financial controls can create an environment that enables innovation to flourish.

Table Of Contents
  • Key Challenges

Introduction

  • Why Do Financial Methods Need to Change?

Analysis

  • Rethink Financial Controls Across Areas Such as Budgeting, Metrics, Cost Optimization and Investment Planning to Identify and Remove Barriers to Innovation
  • Replace the Need to Be Specific With Cost-Benefit Targets With a Range of Outcomes to Get Directionally Correct Cost/Risk/Benefit Assessments
  • Optimize the Cost of Innovation to Scale, Using Methods Adopted by Large Tech Companies
  • Adopt New Performance Metrics to Track the Progress of Digital Business

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