During the evaluation and selection process of a new technology solution, IT leadership plays a key role as an enabler, influencer, and gatekeeper. This is true even for solutions that will primarily be used for business functions outside of IT’s purview, such as revenue and compliance management platforms.
Model N understands the importance of aligning IT and business stakeholders during this process to ensure purpose-driven decisions that support outcomes for both teams. A report from Gartner® presents a framework for accomplishing this goal, explaining how “life sciences CIOs can craft value narratives to accelerate initiatives and enhance strategic influence.”[1]
The report defines a value story as “a compelling narrative with supporting evidence that clearly
demonstrates how IT outcomes generate value for the organization.”1 It identifies four common scenarios where life science CIOs will need to tell a value story and describes seven key themes that are particularly relevant to the collective priorities of the life sciences industry.
The report includes a detailed example of a hypothetical value story for a specific life sciences initiative, in which “a life science CIO seeks support from C-suite peers to develop or purchase an AI-powered solution for commercial sales and service team enablement.”1 The example illustrates how to incorporate the essential components of the value story: context, initiative, stakeholder outcomes, evidence, and actions.
The report concludes with recommendations for three practical actions life sciences CIOs can take right now to begin crafting effective value stories.
To read more Gartner research on how to incorporate the context, outcomes, stakeholders, and evidence of the life science industry into concise and compelling value stories, click here for complimentary access to the report, “How Life Science CIOs Can Communicate the Value of IT.”
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[1] Gartner, How Life Science CIOs Can Communicate the Value of IT, Faith Adams, 9 July 2024
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