MY BRAND BOOK Rajkumar Nair, Deputy General Manager

Rajkumar Nair, Deputy General Manager – IT, Kanakia Spaces Realty

By MYBRANDBOOK

‘Role of a CIO is changing as IT functions become central to business decisions’

Commitment as a Tech Head
In today’s knowledge-based economy, the function of the chief information officer is becoming increasingly complex and multi-dimensional. The senior IT executive is responsible for managing and deploying information technology in the pursuit of business objectives. The CIO faces a host of challenges, from overseeing the convergence of technologies to grappling with varied platforms, compliance and, data security along with tight spending budgets. From a legacy perspective, the IT function has been deeply involved in a cost cutting role, mainly because of the expectations of hitting cost efficiency targets.

However, the changing times have ensured better consistency in priorities at the C-level - for effective IT business alignment. This means that the role of the CIO is shifting from the technical business of data processing to a more broadly conceived job of knowledge management.

Experience Cell
Enterprises today are rethinking the skill set associated with the CIO function, including the way in which they use the CIO, the CIO’s relation to the senior officers, performance expectations and evaluation process, performance incentives and remuneration. The ideal qualifications for the CIO are changing as the IT function becomes more central to business planning and includes technical qualifications, plus a background in understanding finance, marketing and strategic projects along with business planning. While it is not easy, successfully implementing the transition in the CIO role is the key to the success of organizations today.

Key Priorities
The mission of IT in enterprises is changing; IT strategy and capabilities are becoming more and more closely aligned to the company’s business objectives and the predominant role of the CIO is to enable revenue growth. For CIOs, the most important technology objective is to help improve knowledge management as well as respond quickly to market changes. Companies that can successfully manage the transition of the CIO from an information processing function to a knowledge management role have an enormous competitive advantage over those that do not understand and adapt to the demands of a changing business world.

The real payoff will come when companies move beyond isolated IoT projects and take a comprehensive approach, building businesses around these capabilities rather than just using them to cut costs or augment existing products. The challenge before every CIO as we head into 2018 is how to manage and in some cases offload the old stuff, pay down the creeping “technical debt” while freeing up money and people for new and expanded mobile, data analytics, AI, and other modern digital initiatives.

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