Critical success factors for business-IT convergence within group finance clusters in the South African banking sector

Abstract

Business-Information Technology (IT) convergence is increasingly becoming a source of competitive advantage in the global economy and its importance has been widely discussed and documented in recent years. The management question that remains unanswered is: what are critical success factors for business-IT convergence in the South African banking sector?This report seeks to explore critical success factors for business-IT convergence in the South African banking sector via a quantitative data analysis approach which aims to incorporate leading theories and frameworks on business-IT governance. In analysing the critical success factors for business-IT convergence, it attempts to provide the South African banking sector with recommendations that should be considered within the framework of a generic business-technology maturity model. Furthermore challenges to the value of business-IT convergence research, divergent views and new perspectives on business-IT convergence are presented.In the research, the motivation for business-IT convergence research is first discussed. Next, business-IT convergence is defined and key dimensions and levels of the business-IT convergence construct are presented. Lastly a review of factor models of business-IT convergence is presented and outcomes of assessment within the four banking clusters are presented.The goal is to be inclusive of many different perspectives. It is hoped that the research will spark helpful conversation on the merits of continued investigation of business-IT convergence. In closing, reflections on the business-IT convergence research stream are provided and key implications for research and practice are provided.