Is it the CIO's role to drive innovation?
Innovation has been a major driver of revenue growth with almost three in five companies surveyed, and this trend is expected to continue upwards.
Over four of five executives across all functions (85 percent) agree that the CIO should drive innovation across the business, eventhough IT is considered a driver of innovation at less than a third (28 percent) of companies. Thus, technology may have thrust the CIO into the spotlight, but his or her career is not tied to IT.
Contrastingly, less than three of five executives (56 percent) in Singapore consider innovation as a revenue driver. Singaporeans, in fact, point towards the government (49 percent), the CEO (47 percent), the organisation as a whole (47 percent), and finally IT as a driver of innovation (42 percent).
"While innovation is seen as important, and a revenue generator generally across the region, IT is not viewed as a main driver. CIOs will need to take ownership and lead the innovation with their technical expertise and deep understanding of the business. Particularly in Singapore, obstacles that CIOs will need to overcome include a lack of budget and/or resources (24 percent), businesses being reluctant to change (13 percent), and the standard of existing IT infrastructure (11 percent)," said Vincent.
"Ultimately, for a CIO to follow in a CEO's footsteps, they will need to take ownership of information, better align with business needs and focus on driving innovation forward. This is where we can help - our solutions and services help CIOs to increase an organisation's competitive offering and generate revenue," he concluded.
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