Key strategic IT investments shaping business transformation
While the path to digital transformation is clear for many Australian businesses, others are stumbling over foundational steps. It's tempting for leaders to jump straight into high-profile solutions amid growing interest in artificial intelligence (AI) and other advanced technologies; however, these efforts risk being futile without first solidifying their data and information management.
In fact, while AI and cybersecurity may seem like the hottest topics, they should be the secondary focus for organisations still grappling with the basics of data. Half (50%) of Australian organisations see AI-driven applications as the next big investment, and 55% consider cybersecurity essential. (1) However, these innovations can only reach their full potential on the foundation of well-structured, resilient information management.
The hard truth is that companies need to get serious about their data if they want to reap any rewards from AI and avoid the trap of underwhelming, or even risky tech investments.
Laying the groundwork in the cloud
Information management is not just another notch in the IT toolkit; it is the foundation that provides accessible, reliable, and useful data for the organisation or IT systems' business success. Though many Australian organisations claim digital maturity, the truth lies in the details: businesses will struggle to fully implement next-gen solutions that demand strategies and systems for effectively handling data and information throughout its lifecycle, from creation to disposal, without a strong data infrastructure. More than three quarters (78%) of organisations already recognise improved data management as a top priority, according to Konica Minolta's research; however, that's not enough. (2)
Those lagging in efficient data and information management need to accelerate efforts to prepare for the future, not just to play catch-up. Companies that ignore the necessity of data-first information infrastructure set themselves up for costly disruptions and lagging performance in a competitive market. At the same time, those already invested in data and information management need to continue refining and scaling their approach to support the demands of data-intensive, real-time technologies like AI.
Digital transformation is unforgiving of half-measures. A robust data and information management strategy is essential for organisations aiming to modernise and optimise their operations. Information management adoption lets businesses streamline processes, remove reliance on outdated hardware, and meet fluctuating demands without missing a beat. Establishing a well-architected information environment gives companies a foundation that supports today's workloads and tomorrow's innovations.
Secure information management investments
Australian organisations cannot afford to delay advancements in information management, particularly as competitive pressures rise. More than two-thirds (68%) of C-suite executives now view operational efficiency as a top priority, an objective that only a robust, well-structured information infrastructure can truly support. (3) Efficiency is not achieved through piecemeal IT strategies or bolt-on solutions. It's gained through a coherent approach that reduces redundancy, optimises resources, and drives continuous improvement across the business.
Information management must be secure to be effective, and governance of data cannot be an afterthought, particularly as more organisations store sensitive information digitally. Proactive data-governance and compliance frameworks provide stronger protections against data exposure and enhance data management, driving organisations to proactively comply with regulations and safeguard their operations. Comprehensive information management has the ability to support data governance and compliance, and is set to be the largest priority for 92% of organisations when it comes to future IT strategy, (4) in line with the main challenges they are facing.
Leveraging cloud investments with a focus on robust, enterprise-grade information management solutions isn't merely about security or efficiency; it's about positioning the business for longevity. Flexible solutions offer the integration for cutting-edge applications, including AI, when the time is right. Without this infrastructure firmly in place, businesses will risk missing opportunities for competitive advantage and real-time decision-making that AI and advances analytics provide.
The message is clear for Australian businesses serious about digital transformation: foundational investment in data and information management must come first. AI, cybersecurity, and other advanced solutions only deliver value when built on a foundation of scalable, resilient information management solutions. Leaders need to stop viewing intelligent information management as optional and start treating it as the backbone of their digital ambitions.
The competitive advantage belongs to those who take decisive action, laying the groundwork with cloud to prepare for the future, rather than getting caught up in the next shiny technology without a solid foundation in place.
