Instead of falling into despair, the CIO should be optimistic about IT in general
By Jack Loo
10 Oct 2008
The global economic malaise has spread to IT departments. CIOs are already seeing job cuts and projects freeze.
For instance, within the financial sector, banks such as HSBC have started to embark on job cuts, including IT positions. Without sufficient manpower, IT projects are also bound to be affected. CIOs would have their hands tied on choosing which ones to go ahead with.
Banks would now have to hold off their transformation IT projects, from spending on consulting and software to support long-term change in the bank programmes, pointed out Michael Araneta, Senior Manager, Research, Financial Insights.
However, it is not all doom and gloom for the IT folks. In the current business climate, the ability of how a CIO can convince the executives on how business and IT can align together becomes more important than ever, according to James Lim CIO of UGL Premas.
IT can play an even bigger role within the business because it can help companies save costs. In the data centre, green measures as simple as switching the lights on when necessary help save on electricity bills. For employees who always clock frequent flyer miles, real time video meetings can help organisation save on travelling costs.
Indeed, these tough times call for CIOs to be really creative in their planning and execution. Also, these circumstances offer them a chance to advance the standing and importance of IT within the business.
A staff writer with Fairfax Business Media, Jack Loo is a full-time
web and magazine reading addict, from bbc.co.uk to webmonkey and
monocle.
