Technology Innovation Isn't Just for Tech Companies

Information-technology executives at companies of all kinds in the Drucker Institute's Management Top 250 ranking of the most effectively managed U.S. companies have found ways to incorporate the best strategies from the technology sector to promote innovation, collaboration and new business models. IT executives at companies such as Wal-Mart Stores Inc., WMT 0.01% Procter & Gamble PG -1.26% Co.--both among the 20 companies with the highest scores for innovation--and Capital One Financial Corp. COF 1.28% are taking on a more central role in the business, helping their companies adapt to the digital age. To that end, they're using cloud services and collaborative work models to speed up the development and delivery of technology, automating mundane work processes for employees and embracing cutting-edge technologies that add business value. "We're modeling ourselves off the best technology companies out there," says Rob Alexander, Capital One's chief information officer. "Not legacy tech companies, but companies that have been built in the era of the cloud and the internet."