Wed. Apr 17th, 2024

A little over a decade ago, when new technologies such as the cloud, the use of mobile devices and the changes that were beginning to be perceived in the IT department of organizations began to appear and consolidate, voices began to be heard about the role of the CIO was doomed. It was then considered that given the breadth of technologies that were going to be implemented and the difficulty that companies would have in managing different technologies, machines or tools, their work would be diluted into more specific and specialized profiles in each of the areas. Today we know that those voices were wrong and that the role of the CIO is more relevant than ever. He has become the orchestra director, has been integrated into the steering committees and is one of the main people responsible for the business running properly. The trend towards a more strategic CIO role has accelerated rapidly as noted by Logicalis, an international provider of digital solutions.

The role of the CIO today

CIOs are increasingly turning to managed service providers to deliver cost-effective services that offer innovation, efficiency, and access to much-needed skills. Thus, according to the Logicalis report, while 61% of CIOs in 2018 measured themselves by how much money they could save, nearly half (46%) of today’s CIOs measure themselves by their ability to deliver innovative new services. The study further notes that CIO expectations have never been higher, but budgets are tight. Precisely, according to the latest data provided by IDC Spain, by 2023, Spanish companies are expected to allocate an average of 53,500 million euros to technology, offering an optimistic outlook despite the economic scenario in which we find ourselves. “CIOs face significant budget challenges, as they face record inflation, rising supply chain costs and skills shortages,” say those responsible for the study. However, today, 41% of CIOs have some level of responsibility for business strategy, while 81% say they spend more time on innovation. This finding reflects that 81% of CIOs are leading initiatives beyond traditional IT management.

Within the role of the CIO, one of the keys is to have a solid security and risk strategy.

“Many CIOs face budget constraints that make it essential to do more with less. However, the answer is not simply to reduce innovation. CIOs are responding to market challenges by developing strategies that drive growth, improve efficiency, and deliver the innovation that customers, employees, and partners increasingly demand,” explains Pablo Carrillo, Logicalis Territory Director. Therefore, around 77% of companies will continue to invest in digital transformation in 2023, and this will be important to provide a better customer and employee experience.

The four critical areas in the role of the CIO

Innovation: most CIOs are focused on innovation to help drive better experiences. About 50% of CIOs are expected to deliver continuous innovation that elevates and differentiates customer-employee interactions.Strategy: The modern CIO is likely to play a critical role in shaping business strategy, rather than simply focusing on growth. 80% of CIOs say strategy will become a bigger part of their role in the next two transformation: Virtually all CIOs are in the process of digital transformation, with 57% of CIOs saying that creating and operating new digital platforms remains a core part of their job.Reimagining Service Partnerships: Faced with growing cyber threats, budget constraints, and skills shortages, CIOs are building new partnerships with trusted Managed Service Providers (MSPs) to drive innovation and digital resiliency. 57% of CIOs say creating and operating new digital services is their top responsibility this year. 79% of CIOs are increasing spending on customer and employee experiences. 81% of CIOs spend more time on innovation compared to a year ago. With all of this, CIOs are playing a role in orchestrating the transformation, helping organizations rethink the way they do business, creating new revenue streams and transforming service delivery.

strategic priorities

Within the role of the CIO, one of the keys is to have a solid security and risk strategy that allows them to develop a resilience that leaves them free to focus their attention on driving continuous innovation and service improvement. Around half of CIOs (52%) are increasing risk management spend in percentage terms and plan to grow their risk management teams this year. This makes sense when you consider the growing number of threats that today’s IT organizations need to mitigate. Half (48%) of CIOs believe that malware and ransomware will present a significant risk to their organization in the next year. Other major threats include data breaches (42%), phishing (37%), malicious insider information ( 31%) and human errors caused by a lack of staff awareness (31%). CIOs are optimistic about the ability of technology to build resilience. One-third of CIOs already work with managed service providers to deliver digital services and 77% expect to increase spending on outsourced IT and service management in the coming year. Additionally, the majority of CIOs (57%) are already moving forward toward secure, cloud-first environments, while 38% work with MSPs to deliver digital platforms. This shift is being driven by broader strategic priorities around innovation, sustainability, and security: 57% of CIOs say that they would work with an MSP to drive digital platform capability, while 48% would be driven by sustainability.

By Alvaro Rivers

Award-winning student. Incurable social media fanatic. Music scholar. Beer maven. Writer.