CIOs feel the pressure of digital transformation

CIOs feel the pressure of digital transformation

Digital transformation is taking place in businesses across almost every industry. It's forcing improved collaboration in the boardroom, bringing CIOs closer to the other executives as technology becomes more important to every role. However, it's also putting them under unprecedented pressure and straining relationships.

In particular it's deepening the divide between CIOs and CFOs, especially in the UK. Just 23 per cent of c-suite decision makers questioned in a recent Apptio/Financial Times Focus study said that their IT and finance functions are deeply aligned when it comes to the business' tech strategy; compared to the global average of 30 per cent.

Experts believe a number of factors have intensified this split, including regulations such as the EU GDPR, which has increased scrutiny, procedures and privacy requirements in conducting daily business.

"These new requirements fall disproportionately to the IT department to manage, which has substantially driven costs and budgets up. These elevated costs create tension between the finance and IT groups and require additional cycles to explain, educate, and justify these extra costs to groups who may not fully understand the requirement in the first place," explains Paul Ybarra, chief revenue officer at Fusion Risk Management.

Another business factor that adds to strained relationships between finance and IT departments is the divested budget across Europe, he adds.

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Keri Allan

Keri Allan is a freelance journalist and editor who has been covering the engineering and technology sector for over 15 years, writing for titles including E&T Magazine, The Engineer and Arabian Computer News.

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