New Study Shows Chief Information Officers Now Have Ultimate Control of Organizational Budgets and Strategies
CIOs now control the majority of organizational budgets and are second only to the CEO in terms of shaping and delivering business strategy, research from Citrix®, a business unit of Cloud Software Group, has found. The study was based on interviews with 3,300 business leaders working in large- and mid-market businesses across the globe.
As companies strive for success against a difficult economic backdrop, they are looking to tech leaders to act as strategic business partners. According to the data:
The study reveals that CIOs are increasingly responsible for other aspects of business too, from regulation and compliance to ESG performance. This ever-broadening remit comes with the need for new skills and attributes, with emotional intelligence now considered one of the most essential qualities to being a successful tech leader in today's working world.
The research also shows, however, that despite this broadening remit, in practice many CIOs are still tied up with infrastructure: 67% of C-level tech leaders (1,100 respondents) say legacy systems and technical debt are a significant challenge in their role.
CIOs and other C-suite tech leaders are also navigating talent shortages and a looming vacuum at the top. Almost half (46%) of C-level tech leaders are delaying their retirement because they fear there is nobody to replace them. This fear makes sense in light of their current responsibilities, as 60% say their role involves ensuring everyone in the organization has thetech they need to work effectively, and half say that they are involved in tech troubleshooting for employees. While the role is evolving, more work needs to be done to ensure CIOs are able to prioritize the higher-level business strategy work required of future IT leaders.
"Businesses are in a state of flux, and CIOs are right at the center. CIOs are expected to be agents of change but are still caught up with legacy infrastructure and transformation projects," said Sridhar Mullapudi, General Manager, Citrix, a business unit of Cloud Software Group. "Additionally, they must play a key role in navigating the current talent crisis, both by providing tools to maximize employee productivity and by leading automation projects."
Therefore, today's tech leaders find themselves caught between a 'traditional' CIO role - gatekeeping infrastructure and managing digital transformation projects - and a 'transitional' role - defining and refining workplace technology and driving business strategy.
Today's CIOs are responsbile for technology transformation to supercharge tomorrow's world of work. The hardest part of that role is managing the introduction of new, game-changing technologies without losing the value of existing systems currently powering the business. Successful CIOs will invest in infrastructures that help them both manage the past and prepare for the future, as tech leadership is now intrinsically tied to organizational success, and CIOs must adapt to their role as change agents.
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About the study
In 2022, Citrix, in partnership with Man Bites Dog, ran an independent opinion research study with Coleman Parkes Research, interviewing 3,300 business leaders working in large and mid-market businesses (organizations with at least 250 employees; US leaders were from companies with at least 500 employees). Respondents were based in the US (600), the UK (300), Australia (300), Brazil (300), Columbia (300), France (300), Germany (300), Japan (300), Mexico (300), and the Netherlands (300). The study focused on the following sectors: financial services, healthcare and life sciences, technology, professional services, manufacturing, and retail (550 respondents per sector). The business leaders surveyed included 1,101 non-C-level tech leaders (job titles including IT Director, VP of Information Tech); 1,100 C-level tech leaders (job titles including CTO, CIO); and 1,099 non-tech business leaders (job titles including CFO, CEO, COO, CMO).
Citrix, a business unit of Cloud Software Group, provides a complete digital workspace platform that companies of all sizes can use to enable secure work. With Citrix, employees can work where and how they prefer, and IT can be confident their information and devices remain safe. Click here to learn more about Citrix solutions and the value they can provide.