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News- Report Unveils CIOs Find Opportunities in Economic Slump

Capgemini Consulting revealed Friday the findings of its fourth Global CIO Report, which highlights how creative chief information officers have turned the economic downturn into an opportunity to show the true value of IT and to further improve IT industrialization. The report also shows how many CIOs see new technologies as the driving force for business innovation.

Based on face-to-face interviews with 490 CIOs, the “Harnessing Information Value: could you be a digital winner?” report reveals how many CIOs have managed to use the economic slowdown to their advantage. More than half of the CIOs said they prioritize projects that contribute more to the business, and a third said they prioritize projects that tap into new market conditions. Some of the measures taken to diminish budget cuts included renegotiating supplier contracts, outsourcing services, prioritizing projects with an early return on investment, and reorganizing the IT function.

According to the participating CIOs, industrialization is being managed effectively. A majority of respondents (91 percent) said IT projects are prioritized according to business strategy and economic impact, while 93 percent said IT functions use indicators to understand the availability of IT infrastructure and business applications. In addition, 87 percent said they had an IT strategy plan for three years, and 68 percent of IT functions have defined Service Level Agreements (SLAs) for each IT service.

The report also recognizes how new technologies, including web 2.0 and social networks, are beginning to drive business innovation. Fifty seven percent of CIOs see the potential of IT as integrated within business innovation, 48 percent of IT functions have set up technological innovation monitoring, and 41 percent of IT functions hold regular forums with business users to present the latest technologies.

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