Tough year ahead for CIOs

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So what's a CIO on Wall Street to think as he or she surveys the IT landscape for 2013?

Here's one view from Wall Street & Technology: "Many CIOs are facing the 'doom and gloom' of smaller budgets, reduced headcount and more demands from the business. Make no mistake, this is the time when business leaders turn to IT for more efficiency, more productivity and, yes, innovative ideas. Unfortunately, business leaders don't have a very good opinion of their colleagues in IT."

The article continues, noting that, "In fact, most see the IT department as an obstacle to innovation, according to recent InformationWeek research. And because of the renewed focus on innovation, IT organizations whose mandate is to 'fix' broken technology and provide support are on their way out. For those organizations, those IT support duties will be outsourced and the remaining IT team will be smaller and more nimble so it can drive innovation alongside business leaders."

The key will be to somehow support all your mission critical legacy apps in addition to developing new functionality driven by business strategy. Then there are the new systems that just be developed to satisfy new regulatory concerns. So how is CIO to do all this on a limited budget? This is how reputations are made. Think of it as a challenge. The relationship with the CEO, CFO and others will likely be tested.

For more:
- here's the commentary
- here's a look at IT spending in wealth management

 

 

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