How Companies Shortchange IT Innovation

By Dennis McCafferty  |  Posted 01-03-2017 Email

While IT budgets are on the rise, companies are still allocating a much greater share of the funding to routine tech operational and maintenance needs rather than to innovation-driven initiatives, according to a recent survey from Protiviti. The resulting report, "From Cloud, Mobile, Social, IoT and Analytics to Digitization and Cyber-Security: Benchmarking Priorities for Today's Technology Leaders," covers the wide range of technology topics referenced in its title. And the report indicates that, comparatively speaking, there is greater organizational commitment to innovation and digital transformation than in prior years. (But there is clearly a lot of room for improvement.) With this commitment, CIOs and other C-level leaders expect to develop new functionalities and cost savings, while more effectively adopting emerging technologies and aligning IT with the business. Investments in the cloud will support many of these efforts, but companies must overcome barriers such as security and privacy risks to maximize cloud opportunities. Business and tech leaders "have made stunning progress in terms of delivering increased levels of value during the last few years," said Kurt Underwood, managing director and global leader of Protiviti's technology consulting practice. "Yet more progress is needed to ensure that data-centric security and privacy matters remain top of mind in the design and operating effectiveness of cyber-security controls. Many digitization initiatives can quickly create new cyber-security vulnerabilities. Without the right oversight, capabilities and metrics, management teams and boards are too often getting blindsided by data breaches." Nearly 400 C-suite executives, including CIOs and other business-focused tech leaders, took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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