The CIO's role continues to evolve, and by all indications the job isn't getting any easier. In addition to overseeing day-to-day technology needs, IT executives increasingly must generate new business opportunities, contribute to regulatory-compliance efforts, bolster information security, reduce risk, and improve supply-chain efficiency.
How well-equipped are CIOs to meet these growing responsibilities and where are they turning to gain additional expertise? Are companies doing enough to help IT support the business and take advantage of new technologies, even as security and regulatory compliance take up more time and resources? This month, Gap Analysis examines the CIO's expanding role.
Multifaceted CIOs Conventional wisdom says the CIO's role is becoming more complex, particularly with the addition of regulatory-compliance and risk-management responsibilities.
More CIO's should make time to have lunch with external partners and the CFO, CRO and CEO than ever before. New regulations such as SOX and other new emphasis on Anti-Money Laundering are keeping everyone on their toes and the CIO needs to understand the big picture to see how they can achieve corporate goals.
And yet only 22% of the business and technology managers surveyed expect their CIO or VP of IT to work more closely with external business partners in supply-chain development during the next 12 months. A greater number (49%) said the CIO will work with external partners on business-process improvements, development of new-business opportunities (46%), information security (46%), regulatory compliance (44%), risk management (42%), and application development (41%).