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Top styles CIOs can adopt to make more money
By SiliconIndia |
Wednesday, January 4, 2012
The role of the CIO is set to change in the coming years, thanks to the money making ability of certain IT initiatives. The middle of this decade will see the CIO transform into a money maker for the business, reveals Ken McGee, Vice President and Researcher, Gartner.
The researcher enlists six styles of the money making CIO that will emerge in the years to come:
1. The entrepreneurial CIO: In this model, the CIO, apart from the traditional functions of overseeing IT planning, design, implementation and operations, will also be responsible for sales. For instance, any intellectual property developed by the staff for internal purposes but has the potential to generate revenue will need the CIO to actively promote the sales.
2. The cost optimization CIO: The people in this group would be required to continuously reach or surpass the quarterly earnings' targets that their companies would have set. They have to do this by continued use of superlative IT procurement, operations and decommissioning methods.
3. The revenue-creating CIO: The CIO here will be required to identify and guide the enterprises for maximizing usage of IT technologies, products and services that will contribute in increasing the revenue for the company.
4. The business innovation CIO: The CIO, in this model, will put IT staff in the product or service development areas of the company, making them more informed about other departments where they can introduce new innovations.
5. The business development CIO: Terming it the most controversial style of all, McGee says that here the CIO will shift his duties of IT operations to another senior executive, say a COO. However, the CIO will continue to develop his IT-business planning, designing and implementation responsibilities. In due course of time, the CIO will directly report to the business development head in place of the CFO.
6. The public serving CIO: Even the CIOs in the public sector can participate in the money making process. They can capitalize on time value of money by cutting down on each tax-receipt-related government process with the public.
The researcher enlists six styles of the money making CIO that will emerge in the years to come:
1. The entrepreneurial CIO: In this model, the CIO, apart from the traditional functions of overseeing IT planning, design, implementation and operations, will also be responsible for sales. For instance, any intellectual property developed by the staff for internal purposes but has the potential to generate revenue will need the CIO to actively promote the sales.
2. The cost optimization CIO: The people in this group would be required to continuously reach or surpass the quarterly earnings' targets that their companies would have set. They have to do this by continued use of superlative IT procurement, operations and decommissioning methods.
3. The revenue-creating CIO: The CIO here will be required to identify and guide the enterprises for maximizing usage of IT technologies, products and services that will contribute in increasing the revenue for the company.
4. The business innovation CIO: The CIO, in this model, will put IT staff in the product or service development areas of the company, making them more informed about other departments where they can introduce new innovations.
5. The business development CIO: Terming it the most controversial style of all, McGee says that here the CIO will shift his duties of IT operations to another senior executive, say a COO. However, the CIO will continue to develop his IT-business planning, designing and implementation responsibilities. In due course of time, the CIO will directly report to the business development head in place of the CFO.
6. The public serving CIO: Even the CIOs in the public sector can participate in the money making process. They can capitalize on time value of money by cutting down on each tax-receipt-related government process with the public.
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