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Mike Lynch: Does the CIO matter?
The hoped-for return to growth, following the financial crisis of 2008, has yet to become established. But despite or possibly because of this, businesses are spending again on IT.
A recent report by the CBI shows that in the year ahead, many firms are planning to invest more in IT, in large part by scaling back on other spending such as land, buildings, vehicles, plant and machinery.
Across the private and public sectors, technology and its ability to transform business continues to be at the forefront of board agendas. In times of uncertainty, IT matters again.
Boards and leadership teams are challenged today to secure and advance their business, and to deal with multiple factors such as tighter credit markets, less certain supply chains, more demanding customers, and the need to operate on a global scale.
So whether it is to promote growth, be closer to customers or to control costs, IT has a key role to play.
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There is a renewed focus on using business transformation projects — underpinned by IT — to outperform the competition through more efficient processes, launching differentiated products or creating innovative new business models.
Simply put, there are aspects of technology today that matter more than ever before.
So, what does matter? Based on extensive conversations with CIOs, the main priorities and focus areas for them today are:
- IT leadership and talent
- Business driven delivery of large scale IT projects
- New models for sourcing and contracting
- Innovation through analytics
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