LONDON--(BUSINESS WIRE)--A global research study from Lenovo1 reveals how the CIO role has evolved, shedding light on growing areas of responsibility and increasing influence in the C-Suite, as well as removing barriers to business growth.
Today, technology is the nervous system that connects corporate strategy, finance, innovation, operations, and talent. CIOs are increasingly tasked with connecting with key stakeholders across the organization to ensure alignment and drive execution. With IT enmeshed in every facet of a business, CIOs believe that their organizations must continue to invest in digital transformation to remain relevant. Key findings from Lenovo’s global survey of more than 500 CIOs include:
Nearly all CIOs surveyed believe their roles have evolved and expanded in the past few years, and that they are being asked to make business decisions that go far beyond technology.
- 9-in-10 CIOs say that their role and responsibilities have expanded beyond technology, including non-traditional areas such as data analytics and business reporting (56%), sustainability/ESG (45%), DE&I (42%), HR/talent acquisition (39%), and sales/marketing (32%).
- Similarly in the UK, 9-in-10 CIOs say that their role and responsibilities have expanded beyond technology, including non-traditional areas such as digital transformation and business process automation (62%), data analytics and business reporting (57%), DE&I (42%), and HR/talent acquisition (58%).
- 82% of Global CIOs say the CIO role has become more challenging compared with just two years ago as they are confronting a vast array of unique challenges, from the increasing use of AI and automation to talent acquisition in a global, remote workforce.
- Globally, CIOs find it most difficult to solve challenges related to data privacy/security (66%), cybersecurity/ransomware (66%), keeping up with technological change (65%), managing fragmented IT vendor ecosystems (61%) and adopting/deploying new technology (60%).
The majority of CIOs believe their role in the organization has increased in influence.
- More than 3-in-4 UK CIOs say they have a greater impact on their company’s overall fortunes than other C-Suite positions.
- Globally, 88% agree that “my role as CIO is the most critical component of my company or organization’s continued operation”, while in the UK 84% believe this.
As the CIO role expands and evolves, respondents say that their technology vendors play an invaluable role in their company’s overall success.
- Business would feel an impact in no more than a few weeks if they halted spending on digital transformation initiatives, according to 61% of global respondents. This speaks to technology’s role as a critical component of the business, not just a source of cost efficiencies.
- Around 8 in 10 UK CIOs believe their company’s overall success hinges on the deep partnerships with tech vendors.
- Looking ahead, UK CIOs expect to turn to their vendors to help them solve a myriad problems in the next five years, including increasing their organizational agility (57%) and providing security of their company’s systems and operations (54%), as well as to simplify the configuration, deployment and maintenance of technology (53%).
- Globally, 8-in-10 CIOs agree their tech vendors are “so effectively integrated that it increases [their] overall productivity.”
Considering their new challenges and evolving responsibilities, CIOs suggest their current tech stack has much room for improvement.
- Given the chance to reboot from scratch, most CIOs globally (57%) say they would replace half or more of their company’s current technology. This is significantly higher in the UK, where 71% of CIOs would replace half or more of their company’s current tech stack.
- Compared to the previous year, 63% of global companies are using more Device-as-a-Service in their tech stack.
- As business models change, nearly all global CIOs (92%) would definitely or probably consider adding new aaS offerings over the next two years.
“Modern CIOs are the ‘mission control’ for their organizations, their role has transformed drastically in just the span of the past 24 months,” said Ken Wong, President, Lenovo Solutions and Services Group. “From navigating complex tech ecosystems to keep up with the speed of digital transformation, to upskilling employees and managing a global shortage of IT talent, today’s CIO is responsible for the entire technology value chain and beyond. Lenovo’s research demonstrates CIOs are up for the challenge. And they are looking to partner with their vendors to bring their organizations along and succeed.”
Research firm International Data Corp. estimates that by 2023, 60% of CIOs at companies world-wide will be primarily measured for their ability to cocreate new business models and revenue streams, chiefly through enterprise-wide collaboration2. Yet Lenovo’s own research shows that it may be an uphill battle for CIOs, who have identified areas such as data privacy/security, cybersecurity/ransomware and managing a fragmented IT vendor ecosystem as their most challenging concerns.
“In this complex technological environment, CIOs want to innovate, not manage IT. As Lenovo’s research highlights, CIOs look to their technology vendors beyond just delivering the basics well – namely, increase organizational agility, simplify configuration, and optimize costs. IT leaders also need counsel and guidance on how emerging technology can enhance their business goals. The opportunities for technology to add real business value – right across the enterprise – are immense,” added Mr. Wong.
To manage an increasingly complex digital transformation journey, businesses need simple and flexible IT solutions. Lenovo’s solutions provide organizations the breadth of Everything-as-a-Service offerings in Lenovo TruScale; the flexibility to pay for the infrastructure solutions they need, as long as they need; and the depth in our expertise and services that empower CIOs to focus more on their strategic imperatives. Businesses of all sizes need the flexibility to stay competitive, and a scalable, cloud-like solution model is the answer.
Industry forecasts by Technology Business Research indicate that Device Subscription Services are growing at a CAGR of 26% from 2020 to 2024 and data center subscription services are growing at 42% during the same period.3 As-a-Service solutions provide mission-critical support and services, enabling businesses to use technology to scale quickly, lower costs, and reap greater efficiencies. With its flexible and simple offerings, Lenovo has helped organizations from the education to aerospace sectors optimize the right technology with the potential to transform and future-proof their operations.
The full study is available at: https://techtoday.lenovo.com/ww/en/cio-insights
1 The global research was commissioned by Lenovo and carried out by Zeno Group. It surveyed 525 CIOs across the United States, United Kingdom, Brazil, Singapore, China, and Japan. The research was carried out in December 2021.
2 IDC FutureScape: Worldwide CIO Agenda 2022 Predictions, Doc # US48297821, October 2021
3 Technology Business Research (TBR), Hardware Subscription Services Market Landscape, Third Calendar Quarter 2021
About Lenovo SSG Global Study of CIOs
Fieldwork for this study was conducted via a quantitative survey from December 6, 2021 to December 21, 2021, among a total of 525 global CIOs. The survey sample comprised of a near equal number of respondents from each market: Brazil, China, Japan, Singapore, the United Kingdom and the United States. Respondents included CIOs of companies and organizations with at least 250 total employees.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$70 billion revenue global technology powerhouse, ranked #171 in the Fortune Global 500, employing 75,000 people around the world, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s leading PC player by expanding into new growth areas of infrastructure, mobile, solutions and services. This transformation together with Lenovo’s world-changing innovation is building a more inclusive, trustworthy, and sustainable digital society for everyone, everywhere. To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.