Some IT groups hesitate to move too quickly, worried that if they get too far in front of business plans, they will eventually discover that they have wasted energy and money on the wrong projects.
That's a legitimate concern, Pettibone says. But it's easily addressed, in part by placing staff members with hybrid business and technology expertise in key spots in various departments, he says. Randich and Barron, for example, are big fans of that tactic.
Moving fast doesn't necessarily mean making risky moves, Alon says. In fact, quick experiments with prototyping new marketing campaigns or product ideas, for example, can decrease risk by revealing tactics for breaking into new business segments, finding ways to make better use customer data, or providing other valuable insights.
Even an internal back-end process like Amgen's manufacturing analytics system can affect the company's overall speed with measurable financial results. With in-depth manufacturing knowledge, "we react more quickly and it allows us to produce a higher-quality product and have more manufacturing throughput," McKenzie says.
As Kippelman puts it, "Speed is a game-changer."
How We Chose the 2013 CIO 100 Winners
Beginning last November, we solicited applications for the 2013 CIO 100 Awards through ads in CIO and our online newsletters, and through electronic mailings to our print subscribers, event attendees and publicists who sign up to receive our editorial announcements
Entrants filled out an online application between November 2012 and late February 2013. Although most applications came from companies headquartered in North America, the pool included entries from multiple continents.
Each application was read by two of the 42 CIO 100 judges--a list that included former CIOs, academic experts and independent consultants. The judges evaluated the applications according to two criteria: innovation and business value. Applications that received a score of 16 or higher (out of a possible 20) were selected for a second round of scrutiny by CIO editors.
We examined how each company stacked up against the others in the pool, putting emphasis on submissions that told the best stories about generating business value through creative and cutting-edge uses of technology. We sought to pull the most exciting initiatives from the pack and reward them with the CIO 100 honor.