CEO-CIO disconnect threatens to derail financial services growth strategies

Gartner's 2011 CEO and CIO agendas highlight a worrying disconnect between senior executives' perceptions of IT performance.

Globally, CEOs and CIOs in financial service institutions (FSIs), for instance, believe IT performance is only average. But, CIOs faith in their IT organisations' ability to deliver technology innovations, technical flexibility and service levels is stronger than CEOs in the sector.

CEOs do view IT as a key driver of and contributor to business growth but 53 per cent still consider IT as a black box and have no plans to analyse it.

In the UK FS sector, 30 per cent of CEOs (compared with 19 per cent from other regions) report not knowing the possibilities for the next major IT-enabled strategic innovation.

In industries outside of financial services (FS), the views of CEOs and CIOs on IT performance seem to be in closer alignment.

This could reflect lower criticality of IT in those industries and, therefore, the potential or perceived lower performance requirements. By contrast, the FS industry operates almost entirely on IT so performance expectations are higher.

Further, it can be hard for the CIO to convey the extent and tangibility of absolute or improved IT performance.

Identifying the specific input of IT among multiple variables and its contribution is extremely difficult. CIOs need to express the strategic vision they have for IT in the context of how IT can re-engineer business processes, create new business models and improve business outputs as opposed to inputs.

There is often a greater vagueness attached to the role of the CIO, particularly in terms of business responsibilities, than say the CEO or CFO.

1 2 Page 1
Page 1 of 2
7 secrets of successful remote IT teams