#digitaltransformation #chiefinformationofficer #cio
Digital transformation is no longer an option for most organizations. The question is how to focus resources and transform in areas such as rethinking business models, improving customer experience or client services, driving innovation, and using data analytics more effectively.
But how do you measure the results of this transformation? What are the benefits? What about planning for technology investment and culture change? Digital transformation strategy must consider all these points.
To gain practical advice, we speak with Sastry Durvasula, the Chief Information & Client Services Officer at TIAA, to learn how a large organization evolves and transforms. With over $1.4 trillion assets under management, TIAA serves about 5 million customers and was founded in 1918 by Andrew Carnegie.
Here are the topics we discuss:
-- What is TIAA and how large is the company?
-- What does digital transformation mean for TIAA?
-- Why are both culture and technology important for digital transformation?
-- How can organizations avoid risk during digital transformation?
-- What is the impact of corporate politics on digital transformation?
-- How do organizations break data silos for digital transformation?
-- What is the connection between client experience and digital transformation?
-- What is the role of ecosystem in digital transformation?
-- What is the impact of diversity and demographics on digital transformation?
-- Advice to business leaders on being successful with digital transformation?
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Sastry Durvasula joined TIAA in 2022 as the Chief Information & Client Services Officer, responsible for leading the global technology and client services organizations.
Sastry comes to TIAA having most recently served as the Global Chief Technology and Digital Officer, and Partner, at McKinsey & Company. In that role, he led the strategy and development of the firm’s differentiating digital products and platforms, internal and client-facing technology, data & analytics, AI/ML, cyber and hybrid cloud ecosystem, and served as a senior advisor on client engagements. Prior to joining TIAA, he held Chief Digital Officer, Chief Data & Analytics, CIO and global technology leadership roles at insurance broker and risk management company Marsh and at American Express, where he spent 15 years. He was also a consultant for several Fortune Global 500 companies.
Sastry is a passionate advocate for diversity and sustainability. He serves on the Board of Directors for Girls in Tech, the global non-profit dedicated to eliminating the gender gap in tech, and championed industry-wide initiatives focused on women in tech, including #ReWRITE and Half the Board. Sastry holds a Master’s degree in Engineering from the Indian Institute of Science, is credited with 30+ patents and plays a leadership role in technology industry/academia consortia.