Boardrooms consistently view further technological advancement as disruptive and inevitably prioritise asset protection over business growth. Unless a Chief Information Officer (CIO) can win a seat on the board, the opportunities of securing a positive future through digitalisation could be lost. A competent CIO has the knowledge and expertise in this rapidly changing area of growth to provide persuasive arguments as to why a company needs to invest heavily in technology or risk falling behind competitors.
The majority of board members have invested in standard technology, but are largely reluctant to forge ahead with the implementation of complexities such as Big Data projects. A CIO has a broad understanding of how digitalisation technology can enhance a company’s assets. He or she can help a reluctant board understand the significant impact technology can make on company growth through outlining detailed performance metrics in finance, infrastructure and productivity. Disruptive technology has multiple facets including risks to brand or reputation, cyber-security and regulations. By listening to a CIO, the board can appreciate the potential of technology to drastically improve growth, customer experience, innovation and data management.
As a senior manager who is responsible for supervising a company’s entire technology infrastructure from employee motivation to recommending hardware purchases, a CIO can be an essential bridge between the board and company performance. A CIO can often have difficulties overcoming boardroom etiquette to put forward the case for increased technological advancement. As digitalisation threatens to sweep aside companies who are reluctant to embrace its opportunities, a CIO with a seat on the board, would be on a level footing with directors and be in a powerful position to personally argue the case for advancement.