Asserting that information technology cannot be a 'silver bullet' for solving problems, Wipro Chairman Azim Premji on Friday said it should be ensured that customer issues are clearly understood before the solution is proposed.

"It (IT) cannot be a solution chasing a problem. After all, benefits do not come from just chasing after a goal. They come from deciding which goals to chase in the first place," Premji told IT leaders on 'The Challenge for Indian IT Vendors' at a client meet of research firm Forrester.

Stating that many companies are only just beginning to see the potential of technologies that have emerged recently, he said, the range is so breathtaking that many industries are transforming the way their businesses are conducted.

Calling on Indian firms not to be trapped by generalisations about industries as it could be misleading, Premji said firms should identify what really drives productivity in the customer organisation.

"Focus on what matters the most. This needs in-depth customer knowledge and this also means understanding the customer's business model and priorities. Remember this varies not only from industry to industry, but also between organisations in the same industry," Premji said.

He said a holistic view on prioritising investments for customers should be taken and also help customers find value in sunken IT investments.

Premji said that many companies with apparently lifeless IT investments may be missing one final piece of technology that needs to be found.

"There is an interesting opportunity. If IT companies can help the customer in a systematic manner to find the missing link, it could lead to unleashing enormous benefits for both," he said.

Pointing that technological and managerial innovation should go hand in hand, Premji said many companies have discovered that when technology innovations outstrip managerial innovations, the benefits fall through the crack in between.

"It is like a car with a powerful engine but a wobbly chassis. It cannot get far. For customers to achieve higher returns on their IT investments, organisational structures and business processes need critical improvements," he said.

Premji said partnering with IT vendors, who have tremendous managerial depth and understanding of business process changes, can help customers maximise on their return on investment.