The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
August - 2011 - issue > Technology
Is your organization spending too much money building IT systems ?
Digant Shah
A recent survey (sponsored by a leading research analyst firm in conjunction with Financial Executives International) of 344 CFOs at North American companies involved in manufacturing, financial services, healthcare, energy, transportation and other fields seems to indicate that CFOs don’t think much of the information technology in their companies and the people who provide it.
As per the survey only 25 percent see the CIO as a key player in determining the business strategy while less than a quarter of the CFOs felt the IT department delivers the technology innovation needed by the business. Not only this; only 18 percent of the CFOs thought that their IT service levels meets or exceeds business expectations.
Business Perception of IT and challenges faced by IT
IT departments in various organizations are perceived poorly by business. All the IT projects undertaken to implement business change are perceived as expensive IT Projects, which deliver less value than expected. The return on investment and value for money from IT is also perceived as relatively low. Another challenge that they face is from IT systems which have become unmanageably complex and increasingly costly to maintain. One of the biggest challenges which has always surfaced is that IT is hindering the organization's ability to respond to current, and future, market conditions in a timely and cost-effective manner.
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