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SINGAPORE: The role of the chief information officer (CIO) has become more important as companies try to be more cost-effective, according to IBM's Institute of Business Value, which has just released its new global study on CIOs.
According to IBM, CIOs now have a more strategic role to play in driving innovation and raising the return on investments with the help of information technology.
It surveyed more than 2,500 CIOs around the world, including 86 from ASEAN.
Four out of five respondents identified the use of business analytics as their top priority. They said this can help them make more informed decisions and be more cost-efficient by identifying problems early and projecting future trends.
Industry players believe business analytics will be a huge growth sector in Asia. The region only accounted for 10 per cent of the US$7.8 billion global market last year.
The study also showed that three out of four CIOs are undergoing or planning projects for the virtualisation of their computing needs. This includes a shift towards cloud computing, where computers share resources over a network.
IBM said becoming more efficient through technology does not necessarily mean job cuts, but can spur growth for employment.
Fiona Capstick, vice president, Business Process Integration, IBM United Kingdom, said: "In an environment here, in ASEAN or in Singapore specifically where you have a great deal of growth, it's actually not a case of cutting jobs. It's more a case of enabling growth with the people that you have, enabling greater efficiency.
"Many of the companies that we've been working with have high growth in terms of their business revenues and profit, and so if you are able to use the skills that you have within the organisation to focus on the core competence, then you're able to grow the organisation." - CNA/vm
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