CIOs, CTOs playing greater role in technology decisions

0 Posted by - 13th September 2016 - Technology

Rather than focusing only on cutting spending and reducing overhead, CIOs and CTOs are now more like to be calling the shots when it comes to technology investments, according to new research from Deloitte Growth Enterprise Services.

Deloitte Growth Enterprise Services polled 500 mid-market executives (in a survey fielded between June 17 and July 5 at companies with revenues between $100 million and $1 billion) and found that 49 percent of technology adoption is now led by IT department leaders, compared to only 36 percent in 2015.

“What we found is that, in the past, CIOs and CTOs reported to the COO or CFO, and they weren’t getting as much of a seat at the table as far as strategy and more tactical initiatives go. Their role was just to make sure IT departments and technology spending were kept under control and overhead was low — but with the cloud and digital, tech leaders are seen as more than just a cost center, they’ve become increasingly strategic and their voices are louder,” says Steve Keathley, national technology leader, Deloitte Growth Enterprise Services and Partner Deloitte Consulting, LLP.

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Mid-market organizations are increasingly seeing productivity gains and a faster time-to-value as a result of technology investment, which is driving a willingness to see technology as a solid investment, Keathley says. The survey revealed that 54 percent of respondents say their companies’ technology spending is higher than last year and 28 percent say their technology spending is more than 5 percent of revenue.

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