The C-suite has seen a 25% increase in communication with CIOs in hoping to boost company profits, according to PwC. CIO UK looks at why board directors are turning to CIOs in helping to transform the business strategy and drive success. Read more The CIO's increasing relationship with the board
How CIOs can boost profits: Business development
Increased engagement between executives and CIOs has led to an alignment with the IT department and the business strategy. The CIO can outline new technologies and projects by presenting how an investment in IT will boost profits. A presentation demonstrating an objective for the company will motivate the team in achieving the goals for the future.
A presentation will give the C-suite a better understanding of tech with 41% of corporates engagement with the IT department boosting their effectiveness in the role, according to research. The CIO needs to communicate the benefits of the new tools, how it can support the business goals making an impact on the organisation. Thus by unearthing new tech that can support business goals, and by explaining the benefits of those tools to the wider business, CIOs can boost profits.
How CIOs can boost profits: Building efficiencies
IT budgets are increasing with 45% of CIOs helping shape the business strategy, according to the 2016 Harvey Nash survey. A CIO's role has evolved from outside of IT taking up additional responsibilities such as the hiring of IT talent and saving costs for the organisation.
Burrow told us how the automation will save on time and costings for the university which will help to deal with the demand from its users.
She said: “One of the ways in enabling our research team is to have a shopping menu where the users can choose from what size server they need. This can also lead to the amount of storage from a click of a mouse and it will automatically say how much it is going to cost."
The project will enable the university to make the step change in technology with Burrow believing they did not previously have the “capability and maturity” as a university. And so by saving on costs a CIO is able to improve the bottom line.
How CIOs can boost profits: A wave of new tech
The emergence of new technology has seen pressure on CIOs to implement profitable products and services in the business.
The use of digital platforms has enabled businesses and CIOs to communicate with customers. The 2016 Harvey Nash survey revealed 23% of disruption is down to new forms of customer engagement. The communication platform can gain an insight into the customers’ needs and expectations in dealing with digital products.
Action for Children is looking to improve the experience of the people using its services through new technologies. Crawford recently discussed with CIO UK how it is investigating tablets and apps which can enable a better service.
He said: “The solution will lead to parents downloading what is going on in the children’s centres."
The charity had a limited IT budget making it a challenge for Crawford and the IT team.
He continued: “The project will be fit for purpose and efficient enough to make savings for the charity. These improvements could ultimately allow a saving of up to 10% in operational costs and be reinvested back into AfC’s core operations."
The CIO can get an understanding on which challenges they need to work on with the products implemented. The engagement will see CIOs and executives develop a strategy on how to connect the business with the users in creating an efficient service. By implementing new tech that improves the customer experience CIOs can improve the business and boost profits.