A survey of 808 CIOs worldwide, conducted by the Economist Intelligence Unit on behalf of technology optimisation company Mercury Interactive, found that UK CIOs are struggling to prove their value and regain lost trust from their companies' management boards.
The survey said many of the CIOs worldwide saw better IT governance as key to regaining senior management's faith in IT. Yet most UK CIOs are spending less on IT governance than their counterparts elsewhere in Europe, the survey found.
Roger Gilheany, Mercury UK's IT governance business development director, said, "UKCIOs are being forced to spend less on IT than other European CIOs. Managing the people, processes and priorities of their current and future IT is overwhelming them and rendering them helpless to deliver further business advantage."
In the EIU survey, 70% of UK CIOs believed that the best outcome of achieving legislative compliance would be more accurate financial reporting, which would help to increase profits through better governed IT.
However, a follow-up study conducted by Mercury UK found that just 26% of UK IT executives could afford to increase their IT governance spending in 2005, compared to a European average increase of 43%.
Only 6% of UK CIOs said they were planning to spend less on IT governance in the future, but 54% said they were only able to spend the same amount as at present.
In the UK, the results indicated that the cost of sustaining existing IT systems on slimmer budgets was placing enormous pressure on CIOs to deliver on strategic IT goals.