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Mid-Market CIO Panel: Tips and Techniques for Improving Vendor Relationships

July 15, 4:00 PM - 5:00 PM U.S./Eastern (GMT-4)

We'll highlight relationship priorities and best practices identified in a Council study, and we'll interact with a CIO panel on the approaches they've used to improve strategic vendor partnerships.

Secrets of Successful Vendor Contract Negotiations for the Mid-Market

Sept. 10, 2009, 11:00 AM - 12:00 PM U.S./Eastern (GMT-4)

On this free public Council teleconference, Matthew A. Karlyn, attorney at Foley & Lardner in Boston, will share tips on negotiating tactics and new, creative contract terms to help mid-market CIOs make better deals.

Executive Competencies Assessment Tool

Assess Your Business Leadership Skills with the Council's new benchmarking tool. Rate yourself in change leadership, strategy, customer focus and more.

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Visibility for Corporate Boards

A tad tired of those demanding Sarbanes-Oxley and other compliance implementations? Want to dramatically raise your profile with your CEO, ...

 

July 15, 2006CIO

A tad tired of those demanding Sarbanes-Oxley and other compliance implementations? Want to dramatically raise your profile with your CEO, CFO and corporate counsel? Do high-impact professional risks intrigue you?

Then consider making an offer your company’s board of directors may dare not refuse. Create a "digital dashboard" and database that puts all the information a nonexecutive director might need right at his fingertips: compensation levels, capital spending histories, changes in accounting rules and so on. Treat the board like a business unit. Support directors as if they were C-level peers. Turn them into valued customers and clients for your IT shop. Learn from them. And yes, give them tech support if they ask.

The reason is as obvious as, say, an Enron trial in Houston. Litigators and regulators are making directors ever more accountable for their actions and inactions. The future of global enterprise doesn’t merely reside in better management or superior leadership; it’s now contingent upon good governance. That’s not an annoying business trend—it’s a transcendent legal principle. Companies defy it at their peril. And the importance, liability and legal exposure of nonexecutive directors will be even greater five years hence.

Once upon a time, independent directors with sterling r¿m¿could successfully plead ignorance if their board-approved mergers, acquisitions, hiring, firing or audits went awry. Today, they can still plead ignorance. However, they’ll be doing so under oath before judges and juries legally empowered to interpret ignorance as negligence. Ignorance isn’t bliss. There are good reasons why Directors & Officers’ insurance rates have skyrocketed.

Of course, nonexecutive directors are free to trust whatever data they get from the CEO, CFO and the auditors. However, if you were on a board that was increasingly being held to stricter standards of accountability, wouldn’t you like to have your own information window into the enterprise? Wouldn’t you like to show a court of law that you demonstrated fiduciary "due diligence" as a director by digging deeply into the data? Yes? Then "Hello, CIO!"

The harsh truth is that the law is herding directors into investing more time and effort into more serious governance. The simple fact is that you can’t have good governance without good information.

The challenge is shockingly obvious: CIOs should be taking the lead in working with their CEOs, CFOs, corporate counsels and, yes, the auditors, in developing customized systems to support the board.

Might this put the CEO, CFO, corporate counsel and the auditors in an awkward position? Absolutely. Doing the right thing is always risky. Then again, not doing the right thing is even riskier.

 
 
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WHITE PAPERS

Project Portfolio Management

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Communications Transformation Platform

The Communications Transformation Platform enables you to provide the services your customers demand - faster, cheaper and with less risk.
 

Global Change in the TV Industry

Capgemini and MediaXchange have captured key insight to the change across the TV industry.
 

5 Key Requirements of Quality Power

What your IT equipment needs from a UPS: The top five requirements that define "quality power" in the eyes of the power supplies in your IT systems.
 

The Gartner Magic Quadrant for IT PPM Applications

This report evaluates 19 vendors on their ability to execute and completeness of vision.
 

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IT Consolidation Made Easy

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Webcast with Dan Vesset: Investing in Business Analytics Technology

What exactly is business analytics and why should you care? Dan Vesset of IDC and Gaurav Verma of SAS answer this a...
 

Capitalize on Your SAP Content

After 18 years of partnership and over 3,000 successful customer deployments, Open Text has become SAP's premier pa...
 

Enterprise Cloud Computing: Ready for Primetime?

The progression toward enterprise cloud computing is happening today, as industry leaders deploy technologies that ...
 

BSM in the Field, Practical Insights from Peter Armaly

Have you thought about BSM, but haven't quite gotten the buy-in you need? Get down and dirty with BSM installations...
 

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