While Chief Information Officers (CIOs) are valued for their corporate strategies, many have had to forge their own strategic path. Launching digitalization initiatives had an unexpected side effect: CEOs ushering in CIOs for strategic engagement. Digitalization has made CEOs realize that technology is the thrust behind business success. 

Many CEOs were prompted to invite their CIOs to strategic meetings, but few knew how much or what CIOs would contribute. This portrayed CIOs in a positive light, which helped them carve out their position in this new level of the game. The road to success is newly paved, and this begs the question of how CIOs can contribute to corporate strategy. 

Technology has changed how corporations handle business and everyday affairs. This new principle begs the question: How can a CIO benefit corporate strategy?

Same Playing Field, New Rules

CIOs bring many offerings to the strategy table, and many agree that they get to create their version of the playing field. A CIO’s corporate strategy must align with the CEO’s to maintain a symbiotic working relationship. While some seek thought leaders, other CEOs pursue a business-savvy partner who resembles their business philosophy. Similar business principles are the chief cornerstone for the working relationship and the company as a whole.

Be Flexible

CEOs expect CIOs to have their own business thoughts and identities. The CIO’s first task is to peek behind the curtain and see what the CEO and the board expect from them. Is the company looking for a technology thought leader? This CIO is valued for “in-house” data, where they know the company backward and forward. However, if the CEO seeks new technology every few years to trim the budget, the CIO’s contributing value would depreciate. 

Some companies value a CIO who is in tune with the finer points of the business behind the scenes. The CIO knows the business’ pain points intimately and strives to ease them as much as possible. Some CEOs place a lot of stock on someone who can mix and match both assets. Flexibility allows the CIO to grow as a business entity and a company asset. 

It is also essential to plan for unexpected contingencies. Technology changes rapidly, and a notable CIO makes allowances for changes to the company and its role in that company. Leadership can also change, sometimes abruptly, and an adept CIO will allow for contingencies and forge ahead with the new system of leadership or technology. This point emphasizes the importance of creating one’s strategic path before adding long-lasting value to the corporation.

A CIO’s Background Is a Valuable Asset

One of the most significant advantages CIOs bring is their IT backgrounds, which allows them to gain knowledge of the company’s inner workings, such as systemic breakdowns. Being trained to solve technological issues gives a CIO a unique perspective compared to other executives. It also shows that they know how to solve problems strategically. 

This prior knowledge has also encouraged CIOs to step out of their comfort zones to solve problems. This mindset is valuable in the boardroom and can add value to strategic meetings. While CIOs are typically risk-averse, they are not afraid to mention a new venture with high risks. The tradeoff is that a valuable CIO will propose a level-headed strategy, cashing in on the rewards.

Putting a Strategic Plan Into Action

CIOs understand that a bit of planning and research can go a long way, especially as boardrooms enter the new technology frontier. The more a CIO understands their company and CEO, the more value they bring, which is a win-win situation. Their unique advantage over other executives is that they have an IT program that has taught them a valuable skillset that others do not, thus aligning themselves with the CEO.