3 Ways CIOs Can Win In A Post-Merger Environment
With virtually every business being mired with technology, mergers and acquisitions, they come with special challenges, once a merger or acquisition takes place. It puts a lot of the CIOs/CXOs/CTO in the proverbial driver’s seat, to manage the enterprise post the deal taking place. More than just challenges, it also provides opportunities to the technology heads to ensure there is proper integration and unknown policies and procedures, which often need to be learned in due course.
The post-deal phase is when the entire organization is looking up the head of technology to help them through the transition period, and have systems and process in place for the better future, that the enterprise is expected. But for getting there, there need to be 3 aspects to be taken care of, which ought to be looked into.
- Constant Communication channels
Due to the environment that the company is in, constant communications between teams and the heads of the company including the CEOs/CXOs, is extremely crucial for the transitional operations to take place. Though the merger or acquisition would mean a change of responsibilities, it would also bring along new responsibilities, especially with new members being inducted into the team, and a technological direction being sought after.
Also, with the merger and acquisition taking place, its natural that there could be rumors, and doubts in the minds of various stakeholders, especially the employees of the company. A constant communication channel which is active and responsive, assures the team that process and systems are being put in place, and the integration ought to be a process under control.
- Risk Assessment
Risk assessment and due process management is of the utmost importance, immediately after a merger. Whether financial, operational, or security, companies have a higher risk profile after the merger takes place, due to which technology heads need to realign priorities, and also fill in gaps and vulnerabilities.
In fact, there would most probably be new regulatory processes and procedures, apart from the corporate realignment, which needs constant vigilence, and management of risks associated.
- Manage the cloud
In this day and age, cloud plays a crucial role in the existence of a company’s operations. After a merger has taken place, top management including the CIOs need to sit down and assess what legacy products and items they have throw out or compartmentalize, or which ones need to be made mainstream and promoted within the newly created entity.
With cloud interfaces becoming common, and that both entities’ employees will have access to it, managing the company’s cloud content and infrastructure is crucial for the turn out, as excess bulk can slow down the process. When future plans are being discussed, having not completed crucial process is not the ideal situation to land.
In the current business environment, there are many things happening and changing and taking new shape. However, the method of change management by the top IT executive, which helps convert the situation into a multi-fold success, or could turn failure due to inflexibilities and inaccurate assessment of the environment. As quoted in the Forbes, “ it’s not a matter of if you will be involved in a merger or acquisition, but rather when. Will you be ready?”
- 8 Ways To Ensure If You Have Right Security Mindset
- Online Retailers Seek Inventory Accuracy To Remain Relevant: Study
- CRM Tools Can Redefine Wealth Management Industry
- Enhancing User Experience With Hi-Tech Retail Outlets
- AI, Chatbots Are Completely Changing Insurance Industry
- AI-ML Is Taking Travel To The Next Level
- Is Your Data Hackproof?
- Simeio Gains Talent Insight, Improves Retention With Oracle
- How Emerging Tech Is Redefining India's Real Estate
- How To Maximize Space In Your Data Center