Two thirds of CIOs now tasked with bringing revenue

Digital technology has changed companies' infrastructure, the way they prioritise things and the way they earn their living, according to the new global IT leadership survey, entitled 2016 Harvey Nash/KPMG CIO Survey.

Almost two-thirds (63 per cent) of CEOs now focus on IT projects to earn money, instead of save money (37 per cent). At the same time, the priorities for CIOs have also dramatically changed – increasing operational efficiencies has dropped 16 per cent, while delivering a stable IT performance dropped almost a third – 27 per cent.

What's also interesting is that CIOs that report directly to the CEO are also the happiest, with 87 per cent reporting job fulfilment.

Even though they’re happy, it doesn’t mean their job is easy. On the contrary, CIOs are faced with many troubles:

“Whilst the Harvey Nash / KPMG CIO Survey reveals the CIO is enjoying unprecedented influence, it also shows the role is being stretched in many directions,” said Albert Ellis, CEO, Harvey Nash Group. “From grappling with an increasing cyber security threat, to working with the board on innovation and digital transformation, CIOs in 2016 are dealing with a more varied range of challenges than ever before, many of which are far, far away from traditional IT. Adaptability, influencing skills and an ability to keep a clear head in uncertain times are becoming increasingly important business skills for today’s CIO. “

Their biggest obstacle, however, is the lack of skilled workers, which the report calls “the greatest technology skills shortage since the Great Recession almost a decade ago”.

"We are on the cusp of a significant development in the 4th Industrial Revolution,” said Lisa Heneghan, KPMG’s Global CIO Advisory Service Network Leader. “This is driving new demands on the CIO and we are seeing the evolution of a ‘Creative CIO’ who is both a technology and business strategist, and a business model innovator. This Creative CIO is moving away from ‘keeping the lights on’, to enabling the business to create value."

Image source: Shutterstock/Melpomene