Why CIOs Struggle to Drive Business Innovation
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Why CIOs Struggle to Drive Business Innovation

Why CIOs Struggle to Drive Business Innovation

Article

CIOs and other technology leaders acknowledge that they could be doing more to connect tech innovation to business needs. Find out what’s holding them back.

Delivery Gap

60% of the CIOs and tech leaders surveyed said CIOs should be leading innovation throughout their organization’s business initiatives to best promote innovation, but only 26% said CIOs are currently doing this.

  • CIOs should be leading innovation
  • CIOs are currently doing

Untapped Assets

Just 18% said their organization has been “very effective” in leveraging digital technologies to advance business strategies.

Top IT Business-Focuses Goals

Deliver consistent, stable IT performance to business: 63%, Increase operational efficiencies: 62%, Improve business processes: 59%, Decrease costs: 54%, Develop innovative new products and services: 51%.

Deliver consistent, stable IT performance to business: 63%
Increase operational efficiencies: 62%
Improve business processes: 59%
Decrease costs: 54%
Develop innovative new products and services: 51%

Short-Staffed

Only 25% of the CIOs and other tech leaders surveyed said their company has hired a chief digital officer (CDO).

Daunting Task

61% said IT projects have grown more complex over the last five years, and 58% said they’ve become more ambitious.

  • IT projects grown more complex: 61%
  • IT projects become more ambitious: 58%

Staff-Strapped

62% of the CIOs and other tech leaders surveyed said they’re dealing with a skills shortage-up from 45% who said this in 2013.

Top Tech Skills in Short Supply

Big data and analytics: 42%, Enterprise architecture: 34%, Business Analytics: 34%, Tech architecture: 32%, Security and resilience: 28%.

Big data and analytics: 42%
Enterprise architecture: 34%
Business analytics: 34%
Tech architecture: 32%
Security and resilience: 28%

Strategic Shift

64% of the CIOs and other tech leaders surveyed said they are adapting tech plans as the global political, business and economic environments become more unpredictable.

How CIOs Adapt to Unpredictablility

Create more nimble tech platforms: 52%, Find ways to work within restricted budgets: 49%, Invest more in cyber-security: 45%, Work with trusted partners: 39%, Reduce longer-term planning (3 or more years): 26%.

Create more nimble tech platforms: 52%
Find ways to work within restricted budgets: 49%
Invest more in cyber-security: 45%
Work with trusted partners: 39%
Reduce longer-term planning (3 or more years): 26%

Pressing Topics

63% of the leaders surveyed said they discussed an IT strategy update during their most recent board meeting, and 45% talked about a major tech investment.

  • Discussed about IT strategy update: 63%
  • Talked about major tech investment: 45%

Compensation Plan

33% of the CIOs and other tech leaders surveyed have seen their base salary increase over the past year.

While the majority of CIOs and other technology leaders believe they should be leading innovation efforts throughout their organization’s business efforts, relatively few are actually doing this, according to the recent CIO survey from Harvey Nash and KPMG. The resulting report, “CIO Survey 2017: Navigating Uncertainty,” states that few CIOs believe their company has been “very effective” in leveraging technology to advance business goals. The lingering skills shortage plays a significant role here, especially when it comes to hiring qualified big data and business analysts, enterprise architecture professionals and cyber-security specialists. Other factors, however, present greater challenges, as IT projects continue to grow more intricate and ambitious, and the global political, business and economic environments become more unpredictable. To address these shifting dynamics, CIOs must deal with “do more with less” budget realities, while somehow creating more nimble tech platforms. “In order to stay ahead of the unprecedented levels of disruption and change facing today’s CIOs, they have needed to become more strategic and functionally integrated,” said Denis Berry, KPMG principal and U.S. CIO advisory leader. “Today’s technology executives need to understand how business models impact their organizations’ infrastructure—not only from a technology standpoint, but from an economic, social, political and regulatory one as well, especially in order to stay nimble, adapt to an uncertain climate and truly discover where the opportunities are.” Nearly 4,500 global CIOs and other technology leaders took part in the research

Source: www.cioinsight.com by Dennis McCafferty

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