CIO Magazine has issued its annual “State of the CIO” set of reports (registration required)
In a survey of 600 CIOs in its Executive Council, 34% of CIOs are classified as “function heads” - only 4% of them were focused on “driving business innovation” whereas 79% of them reported they supported “improving IT operations/systems performance”. And they still spent 5.1% of their revenues on IT.
Another 45% of the CIOs were classified as “transformational” and 40% of these reported they were “driving business innovation” while spending a bit more - 5.5% of their revenues on IT.
Finally – another 21% were classified as “business strategist” and 70% of them reported they were “driving business innovation” and they spent 7.2% of revenues on IT.
So, for slightly more spend the second - .4% more and third category – 2.1% more - are far more focused on innovation.
Now can you imagine if we could slash the baseline 5% of revenues across all three groups and use that towards innovation?
