Revenue building new prime directive for IT chiefs

CEOs expect IT’s role to shift from cost cutting to helping revenue growth, according to an Economist Intelligence Unit report.

CEOs expect IT’s role to shift from cost cutting to helping revenue growth, according to an Economist Intelligence Unit report.

Even though cost efficiency will never go out of fashion, 69% of global senior IT and business executives believe IT’s prime directive within three years will be to boost revenue and sharpen the competitive edge of their companies.

This is more than IT bravado: in fact, 83% of the CEOs back this idea of a buffed-up IT role compared to 62% of the IT respondents.

Again, even though this gap between CEO and IT heads exists in all regions, European and Asia Pacific IT chiefs are finding it harder to shake off the idea that cost cutting is their chief job.

Future initiatives will focus on improving the links between IT and business, both through technology investment and by creating cross-discipline teams and joint project management responsibility.

Almost half the respondents believe this will lead to a diffusion of IT responsibility and that the standalone IT department will disappear.

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