22 March 2016
IT is undoubtedly central to creating value and therefore continues to account for a rising share of total investment. But defining, measuring, and maximising that value remains elusive. A study involving global CIOs showed that successful companies used IT to gain competitive advantage for their businesses. Analysing their approaches to IT helps to show how it can promote economic performance.
A key takeaway of the study is a call for CIOs to broaden their scope of action by adopting new levers, roles and governance practices that go beyond the purely technical and traditional IT capabilities.
While traditionally a CIO’s main responsibility has been using standard practices and performance measures to maintain IT’s asset value, CIOs must take on new roles – bridging functional silos – that may take them beyond their comfort zones. They will need to collaborate with executives in business units to work on major transformation projects, to coordinate strategic planning, or to manage investments collaboratively.
Co-Founder – epicoaching Pte Ltd
CIO Consumer SG and Int’l Gp and Regional Head of Enterprise Architecture, IT Planning & Governance, Service Excellence of Group IT, Singtel