As the CIO’s role in the modern enterprise has become increasingly complex and dynamic, a core part of the CIO’s responsibility remains constant: the need to create competitive advantage and generate new revenue streams through innovation while keeping cost at an optimal level.
However, many organizations are allocating extensive IT resources to the daily operational struggle of “keeping the lights on”, which deteriorates their ability to support the growth of the organization through the selection, development, and implementation of new technologies. CIOs are feeling the increased burden of daily IT tasks, while a recent survey by TRAC Research shows that the top rated key strategic goal of CIOs is to increase the amount of IT resources that are available for investing in innovation and new services (59%), while the third highest rated goal of CIOs is to reduce the cost of managing IT (48%).
This indicates that CIOs are mainly concerned with minimizing the cost of operating IT, in order to maximize the amount of new innovation they are able to get from their investments in IT resources.
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