ITkothon: A new direction in the world of technology IT Talk
Technology is rapidly changing the way businesses operate. Innovations such as AI, data analytics and automation bring opportunities as well as challenges. Yet, the topic of technology is often missing from an important place: boardroom discussions. How do you ensure that technology becomes a strategic topic at the top of your company?
That’s exactly what Deloitte discussed with a group of Chief Information Officers (CIOs) from a number of multinationals such as Macy’s, Hyatt Hotels and Sallie Mae. This resulted in valuable insights into how CIOs can push technology higher up the agenda. You can read more about it in this article . But before we get into that, Deloitte explains what the role of the CIO actually entails in this video:
Technology: indispensable for business strategy.
More and more companies are dependent on technology. From more efficient production processes to better customer insights through data analysis: technology is very important. Yet in many companies it is a subject that remains limited to IT departments. A shame. Because technological choices have a major impact on strategy and vision for the future.
A major reason why technology often doesn’t have a prominent place in the boardroom is that it is seen as ‘too technical’. It is up to CIOs to change this. They need to translate technology into what it means for business goals, growth and risks.
CIOs as strategic partners.
CIOs play a key role in digital transformation. Because they understand the technology and the needs of the business. How do you convince other board members to take technology more seriously? Start with these 3 steps:
1. Translate technology into value .
Don’t just talk about the technology itself, talk about its impact. Explain how new tools save costs, stimulate growth or reduce risks. For example: how can AI help to answer customer questions faster or make production more efficient?
2. Focus on risks and opportunities.
Technology offers opportunities, but also has risks. Think of data leaks, cyber attacks or dependency on outdated systems. By naming risks, the importance of technology becomes tangible. This creates urgency in the boardroom.
3. Make technology understandable.
Use plain language and avoid technical terms. Board members often do not have an IT background. By simply explaining what technology means for the company strategy, you make the topic accessible and relevant.
Technology as a permanent agenda item.
Deloitte emphasizes the importance of technology as a permanent topic in boardroom meetings. Just as financial reporting or HR strategies have a permanent place, technology also deserves continuous attention. This ensures consistency and helps your company think ahead.
A successful approach is to discuss technology not only in terms of current projects, but also with a forward-looking perspective. What trends will change the sector? And how can your company be at the forefront of them?
Collaboration in the boardroom.
Another important lesson from the conversation with CIOs is that technology is not the responsibility of 1 person. It must be a shared responsibility of the board members. This requires collaboration between the CIO, CEO, CFO and other board members.
For example, the CFO can help calculate the ROI, or Return On Investment, of technology investments. The CEO can link technology to the company’s long-term vision. And the CMO can provide insight into how technology can improve customer experience.
Practical tips for CIOs.
As a CIO, do you want to get technology on the board members’ agenda? We’d like to give you some practical tips:
- Tell success stories : Show how technology has driven growth or innovation in other companies.
- Involve outside experts : A guest speaker or consultant can further emphasize the value of technology.
- Prepare concrete proposals : Board members are focused on action. Make sure you present not just ideas, but a clear plan.
Time for action.
The role of technology in businesses is too important to be left to IT departments alone. It belongs in the boardroom. With a strategic approach and clear communication, CIOs can ensure that technology is not just seen as a cost center, but as a vital driver of growth and innovation.
Technology is not just changing businesses, it is changing entire industries. It is up to today’s leaders to ensure their businesses are ready for tomorrow.
