Implementing The Best IT Strategies - Technology & The Boardroom

Technology is a strategic imperative in every organization, regardless of industry, sector, or geography. Few companies are immune to the influence of technology-driven disruption, innovation, or value creation. Business strategy is now largely technology strategy, and high-performing CIOs are leading technology deployments and helping the businesses develop and implement technology-enabled business strategies. 

A 2017 Deloitte study found that high-performing S&P 500 companies were more likely (31 percent) to have a tech-savvy board director than other companies (17 percent). The study also found that less than 10 percent of S&P 500 companies had a technology subcommittee, and less than 5 percent had appointed technologists to newly opened board seats.

Over time, more boards seek to appoint directors with technology acumen—but open board seats are few and far between. There are many reasons, including board member age, tenure, and board refreshment. Among S&P 500 companies, the average age of an independent director is 63, and 44 percent of boards with a mandatory retirement age have set that age at 75 or older.

This is extremely vital in SaaS organizations where technology is the lingua franca of the business. So, what are some of the best technology practices a CIO should know? Click here to learn more.