We know that software development is no longer the sole preserve of the IT Department. Investment firms are embracing business-developed IT for competitive advantage.
Business users are increasingly IT literate and the barriers to software development are falling. Rather than restrict business users from creating solutions IT departments are recognising the need to support end-user software development. Such users have been dubbed ‘Citizen Developers’ by some.
So how do investment firms embrace citizen development ensuring it meets standards without being stifled?
Open and inclusive architectural and data governance
Unfortunately, all too often such oversight is perceived as onerous, restrictive or ‘an ivory tower’. Providing an open and inclusive governance framework is essential.
Davies have established governance frameworks and groups that bring IT and business teams together.
Tool and software development solutions
Supporting users in their choice of solutions and tools is also key. Business users will always use whatever tools they have access to, even if it’s not IT-endorsed. ‘No code’ or ‘low code’ solutions are also increasing in popularity.
We have advised on the tools and technologies that enable business-developed IT to thrive.
IT and software development operating models
Supporting teams in their solution development activities, principally by providing an operating model that does not segregate IT-owned systems from business-owned ones is essential. Offering a platform for all users; IT-aligned or business-aligned that permits and embraces IT development fosters an innovative environment and could yield that competitive advantage that all firms seek.
Davies have developed IT operating models that recognise these developments, defining the roles and responsibilities of all teams.
Useful resources:
- Davies Signals: Survey results on the evolution of the IT Function
- Blackrock Aladdin Studio launched Q1 2021
- Jacobi continuously improving their Python SDK for client use
