1. Market Research

The Changing Role of CIOs/CTOs: How ICT Solutions Enable Efficiency and Drive Revenue

  • April 2015
  • 61 pages
  • Frost & Sullivan
Report ID: 2878598

Summary

Table of Contents

The Key Decision Maker must also be an Innovation Expert and a Service Broker

The information technology (IT) department must align with changing business goals for growth, innovation, and speed to market, and must focus on satisfying internal, line-of-business clients. The traditional IT expert has evolved into an innovation expert and a service broker, which defines the role of the chief information officer/chief technology officer (CIO/CTO). This research service examines the evolution and considers how the change will influence enterprises’ integration of information and communication technology strategies.

The Role of the CIO Redefined

The CIO/CTO role has been redefined as that of an innovation expert and a service broker.

In the new environment, the IT department must align with business goals for growth, innovation, and speed to market; and must focus on satisfying internal, line-of-business clients. The traditional IT expert has evolved to become an innovation expert and a “service broker”; this is what defines the role of the CIO/CTO.

The CIO/CTO will still be responsible for delivering technology solutions to the business. What is different from the traditional role is that:
-The CIO/CTO as the innovation expert is the new leader who transforms, enhances, and improves an enterprise’s business processes. Internal and external customer satisfaction is the centre of the strategy with the ultimate goal of saving costs, and increasing productivity, efficiency, and return on investment (ROI).
-The CIO/CTO as a service broker puts greater emphasis on services than assets, and focuses more on cost-effectively procuring, delivering, and managing services than on building them.

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