The research shows that inter-departmental collaboration is "critical" and that segregating IT from business operations or operating in functional silos can be a "significant disadvantage" to a business.
Less than 10 percent of survey respondents worked in IT functions, "demonstrating that IT is now becoming firmly integrated in the overall business ecosystem", said Harvard.
"New technologies can provide a genuine competitive edge, but the organisation has to make the commitment to use technology to build new processes and business models," said Angelia Herrin, research and special projects editor at Harvard Business Review. "Companies need to become more flexible in terms of technology implementation and make innovation part of their culture in order to realise real business value."
A total of 672 respondents completed the survey the findings are based on. Only representatives of organsiations employing 1,000 plus staff in the US or 500 plus staff in the rest of the world took part in the study.
Sign up for CIO Asia eNewsletters.