4 Ways CIOs Are Focused On Developing Business Strategy

CIOs-developing-business-strategy	|	Photo Courtesy of	Ed Yourdon	http://www.flickr.com/photos/yourdon/4116669333/sizes/q/With information technology increasingly critical to the success of every company, CIOs are more involved than ever before in developing business strategy.

A recent survey of more than 2,000 CIOs and senior IT executives found that they’re spending more time working on ways to enable business success with information technology.

An article on the Accelerating IT Success website outlines four key shifts that the survey uncovered.

  1. CIOs have a more strategic outlook:Just over half of the CIOs surveyed are more involved in corporate board meetings compared to 2011. Executive boards are using CIOs these days to help drive innovation. They want the CIO to help the company reach more customers and find ways to better leverage technology to grow revenue.It’s important that IT works with sales and marketing to understand what their problems are. Take a hard look at the current systems and how they’re used. Conduct a system audit to evaluate what improvements could be made. Of course, it takes executive sponsorship to do these things because they shake up the status quo.
  2. IT projects are focusing on revenue: Projects used to focus on reducing headcounts. Now the focus is more on increasing revenue. Cutting costs seems like a great way to react during in an economic downturn, but you only can cut costs so much. At some point you’ll reach a fixed cost, whereas revenue always can grow.
  3. Mobility and social media are hot topics: Both drive innovation and create value for customers. Mobility is a must for organizations these days. People need to be able to access their information from anywhere.
  4. Innovation is a priority: CIOs view emerging technologies as critical to boosting a company’s market share. IT departments should be innovators within the company as far as creating products and solutions for the company.

Source: Accelerating IT Success, October 2012