CIOs need to build on growing prominence in the boardrooms
1 min read
IT chiefs need to do more to raise their visibility and increase influence in UK boardrooms, as IT becomes even more central to business reputation and success.
Research by the Economist Intelligence Unit shows that CIOs are still being sidelined, with less than half (47%) presenting IT issues at board level. CEOs maintain responsibility at 45% and multi-function CFOs look after IT departments at 20% of companies.
McAfee commissioned the study and concludes that, despite the apparent lack of leverage in the boardroom, some progress has been made in raising the profile of the CIO and IT departments.
It cites the finding that 42% of respondents now see IT primarily as a strategic business function – not just a route to cost efficiencies. Included in its catalogue of key functions, it says, are regulatory compliance, good governance and risk management, with IT organisations now being tasked with assessing and measuring risk alongside finance.
Not only do almost one third (30%) of respondents believe that the IT department is primarily responsible for system and network security, but 31% also see that role extending to assisting with revenue generation.
In fact, 83% of respondents agree that this growth in portfolio has already helped raise the profile of CIOs at board level, while a quarter believe that the overall relationship with the board has improved substantially over the past two years.
Says Greg Day, security analyst at McAfee: “It is worrying that in a day when governance, risk and compliance are now crucial for business success, only a minority of CIOs are fully participating at board level. IT chiefs need to capitalise fast on the progress they have made over the last few years to ensure that the full business case for investment in IT is understood by corporate decision makers.”
