How Corporate Boards Feel About the IT Department
If you're seeing your CIO in a spiffy suit more often these days, it may be because he or she is meeting more frequently with corporate board members. These company directors are getting more involved in a wide range of technology issues, focusing on both the long-term strategic value of tech investments and the potential for risk, according to the most recent annual survey of corporate directors from PwC. The resulting report, "Governing for the Long Term," presents a number of encouraging findings about directors' impressions of the IT organization. Most feel that IT's strategy and risk-mitigation approach contributes to the overall company mission in an aligned way. They also believe that the organization's data security program is sufficiently comprehensive. The technologies that are meriting the most attention during board meetings are analytics, social media and mobility. "Companies now see IT strategy and risk as inextricably linked to corporate strategy," according to the report, "and the level of board engagement in this area is increasing. … Directors appear especially focused on IT strategy. As a result, they are committing more time to IT and talking more frequently with the company's chief information officer. In addition, more directors said their boards are using external IT advisers to ensure they have the right expertise to discharge their oversight responsibilities." More than 780 public company directors took part in the research.