FEATURE : CIO PROGRESSION
10 YEARS AGO , THE CIO WAS MORE OF A SUPPORT FUNCTION ROLE , WORKING IN THE BACKGROUND ALONGSIDE THE REST OF THE C-SUITE . NOW , THE CIO ’ S ROLE IS MUCH MORE STRATEGIC .
This shift in the CIO ’ s role and responsibilities is in direct response to the rapid acceleration of technological change . A McKinsey report published in 2020 detailed how Digital Transformation leapfrogged several years of progress in a matter of months , pushing companies over the technology tipping point and transforming business forever .
For CIOs who had long fought to accelerate the momentum of Digital Transformation within their organisations , the COVID-19 pandemic presented an extraordinary window of opportunity . While the window initially opened due to necessity , it is , in many ways , yet to close . For their organisation to stay relevant , CIOs must take Digital Transformation to the next level , which for some , means building new , digital businesses .
Communicating ROI
In this landscape of rapid digital disruption , technology has become more critical than ever before . While the C-suite of almost all organisations now recognises the importance of digitisation and are prepared to invest in the necessary technology to transform their organisation , they expect to see a return on their investment ( ROI ). Demonstrating ROI is key to securing the necessary budget for the right tech , especially during times of economic uncertainty , where spend is under scrutiny . CFOs want to be assured that a new product or service will not only help to streamline internal processes or improve customer experience , but that it will boost the organisation ’ s bottom line , too .
Cybersecurity remains a priority for organisations across industries and a good example of how CIOs can demonstrate how tech investment can minimise risk and enable innovation . Ultimately , the ROI on cybersecurity is all about cost avoidance ; it ’ s about maintaining reputation and minimising payout .
Moving towards a self-healing enterprise
Gartner identified the ‘ Digital Immune System ’ as one of the Top Strategic Trends for 2023 for organisations to optimise their operations . The report found that the
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