There are no rules around innovation, except one: CIOs must innovate. Here, the CIO of a global law firm describes how he’s advancing IT, and offers five tips for getting creative while minding the budget.
By Ryan McBride, CIO Custom Solutions Group
Mike Green, CIO of global law firm Nixon Peabody LLP, faces the same dilemma as many other global enterprise CIOs: How to maintain an innovative IT infrastructure that generates value for the business without breaking a tight budget.
Although Nixon Peabody is investing in technologies such as business analytics, social networking tools, application consolidation, and virtualization, Green hasn’t escaped the challenges of the current economy. But he says that the economic slump is no excuse to delay important innovation projects, and that the actions IT leaders take now can help businesses emerge from the downturn able to compete—and grow.
Green offers five insights about innovating during a downturn:
For the past year, Nixon Peabody has been developing systems to provide its attorneys and leaders with business analytics dashboards that display key performance and profitability metrics. The system is intended to give legal practice leaders, for example, a way to track how well their groups and individual team members are performing in terms of billable hours recorded and other areas. This information enables leaders to take decisive actions to increase productivity or reduce costs.
Economic conditions have a way of changing priorities. Nixon Peabody, Green says, has adjusted its technology roadmap so resources are spent on the most necessary projects, while delaying expensive initiatives that can be postponed. For example, the firm has held off on implementing VoIP technology at those offices where dial-tone systems remain effective from functionality and cost perspectives.