With the role of the chief information officer growing, it is interesting to get their take on business progress. For example, they see themselves sitting high in business architecture in the future. That makes sense given the fact that technology is the driving force behind business transformation. Consider some of the other revealing facts offered by CIOs that took part in a global survey from Harvey Nash.
1. Spending is surging at new levels. The study shows an IT budget increase of 43 percent. That number is up over 10 percent from the previous year.
2. The potential for innovation is high: 71 percent of the surveyed CIOs saw innovation as a way their companies could grow. Only two percent thought their businesses had peaked in that category.
3. Forty-five percent of CIOs felt there was a deficit in the IT talent pool. The shortage of skills among employees affects their ability to initiate change.
4. CIOs report their top priority is saving on costs. Seventy-one percent listed this as a focus. Other concerns include these:
- Seventy percent look for a stable IT;
- Sixty-nine percent consider operational efficiencies as critical;
- Sixty percent want to improve business processes;
- Fifty-three percent look to enable change.
5. Sixty percent of respondents are currently dealing with a salary cap.
6. Twenty-seven percent hope to change jobs within the next year.
7. Support appears to be an issue with more than half of those surveyed. Fifty-seven percent lack support from their board, and 49 percent are unable to build a network among C-level peers.
8. There is variation in company architecture as well. Thirty-nine percent of CIOs report to their chief executive officer while 18 percent go to the chief financial officer instead.
9. The focus of the group is changing. Sixty-six percent of the CIOs report having an entrepreneurial spirit, and 77 percent are feeling innovative.
10. Many face barriers in their roles as chief information officers:
- Thirty-five percent deal with budgeting issues;
- Thirty-one percent face changing business priorities;
- Thirty percent lack internal skills necessary to succeed.
11. People skills vary among this group of professionals. Seventy-two percent feel like interaction with sales and marketing is a challenge. Fifty-one percent found finance a tough nut to crack, and 38 percent suggest communication with operations is difficult.
12. The final point made by surveyed CIOs involves gender diversity: 4 report that no women work in their IT departments.