Innovation Will Drive Growing IT Budgets and Staff
IT budgets and staff are expected to grow this year, according to a recent survey from the Hackett Group. The accompanying report, "The CIO Agenda: Balancing Risk, Cost and Innovation," explains that innovation is driving much of the spending increases, as many executive leaders consider that their top strategic priority. To achieve business objectives, these leaders said, IT must have the resources required to improve processes, boost analytics-focused capabilities and drive a digital transformation. Meanwhile, the tech department also needs to help their organization reduce risks, especially those related to IT issues such as network breaches. "Technology's strategic role in the business is dramatically expanding," said Scott Holland, principal and global IT advisory practice leader for the Hackett Group. "IT must truly transform itself to be effective in its new role, as it is being asked to develop and implement digital business transformation initiatives that dramatically change the way companies go to market. IT suddenly finds itself in the position to directly impact the bottom line, by designing and supporting new customer-facing systems that are often driven by technology innovations such as cloud-based infrastructure and applications, virtual business and technology networks, and business analytics." Executives representing nearly 180 large global enterprises took part in the research.