In a study by the College of Engineering at the Ohio State University, 61% of CIOs in the Global 2000 were labeled by their C-suite peers as being “too inwardly focused” or “too in the way.” Yet in this digital age, the CIO role is increasingly important. It is estimated that in 2020, there will be 500+ billion programmable devices connected to the internet. While IT has become a business engine, it is not a commodity or plug and play. Total connectivity and programmability present unique opportunities, and the CIO has the experience, training, and vision to orchestrate all of these moving parts.
Though there has been a rise of new titles in the executive suite, this is not bad news for the CIO but affirmation that leadership is essential in the digital space. The CIO plays a critical role in leading the company effectively into the digital space, coordinating the multiple business parts that connect through the internet, engaging in C-suite conversations, and overseeing an exponentially growing digital environment. A company can rise or fall depending on the quality of their information technology, and Proven IT Finance can help you bring transparency to your IT Value Story™.