Press Release - February 10, 2012
JB HOMER'S WINTER 2012 CIO/CTO BREAKFAST ROUNDTABLE:
"ARE YOU READY FOR THE RADICAL REINVENTION OF THE ROLE OF THE CIO?"
"Are You Ready for the Radical Reinvention of the Role of the CIO?" was the theme of our Winter 2012 CIO/CTO Breakfast Roundtable moderated by Judy Homer, President, held on Wednesday, February 1, 2012. A distinguished group of IT executives from organizations that included: The NY Times, Moody's, ING Investment Management, Citi, Dun #38;& Bradstreet, The Metropolitan Museum of Art, Vineyard Vines, and Morgan Stanley gathered to exchange their ideas and opinions on this topic and to enjoy the opportunity to network with their peers in different industry verticals.
The Top 10 Take-Aways From the Roundtable:
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The CIO's partnerships are no longer limited to the CEO or CFO - some of the most critical partnerships are with the CMO and the Chief Legal Officer - since many CIOs are involved in both product development and in offering solutions for managing technology and operational risk. CIOs now share goals with their peers in Marketing that will be measured by the additional revenues generated by the products co-developed and brought to market. Success in these partnership give CIOs the opportunity to move into other "C" levels roles such as CMO or COO roles because the business now acknowledges that technology is a significant revenue driver.
- The radical reinvention of the role of the CIO is impacted by the consumerization of technology. Clients are more technology savvy and demand more immediate and flexible solutions.
- The pace of change today is extremely fast - technology leaders have to keep up with the rapid changes in technology and in the economy. Evaluation of IT's ability to be value-added is now nonstop - CIOs have to consistently be proactive and not rest on past successes
- Innovation is not just "Big Bang" - some of the most successful innovations have been small ideas that have over time changed how companies utilize technology to be successful in their space. True innovation is linked to business value and to contributing to "stickiness" - solutions designed to retain your current client base and then build upon it. Innovation doesn't develop in an ivory tower.
- Increasingly companies' products are technology solutions and the CIO is not only involved in product development but in determining how the consumers utilize and access these products
- Client communication is key - the most appreciated and utilized technology solutions are built in response to client feedback, and give your clients solutions they have stated a need for. The successful CIO has to know the business they support and how to deliver against the business strategy.
- IT must give the business the capability to change its data from information to intelligence that can be factored into analytics that enable the business to be more effective in decision making.
- A flexible Technology Roadmap is essential to align technology with the vision of your business partners and to adapt to changing market conditions.
- It is valuable to take the time to meet with your peers and exchange ideas about what other IT leaders are thinking, to hear how the issues you are dealing with are also impacting other industries, and to have the opportunity to selectively "steal" great ideas from other creative thinkers and import them into your own organization.
- As the role of the CIO expands far beyond Chief Information Officer a new title for this critical executive could become Chief Transformation Officer or Chief Innovation Officer - demonstrating the recognition that the head of technology empowers his/her company to grow because of the new capabilities/products provided that drive change and revenue.
We thank all of the participants for joining us for this stimulating and informative discussion. Our personal best take-away from hosting the latest in our series of roundtable discussions is that some of our most creative and charismatic leaders have chosen technology as their profession, and that we feel privileged to work with them every day.
If you are interested in participating in future sessions of our CIO/CTO Breakfast Roundtable please contact us at 212-697-3300 or via our online contact form.
