BusinessCompany NewsBusiness confidence in IT rebounds

Business confidence in IT rebounds

Business confidence in IT is rebounding as, for the first time in three years, the number of companies reporting budget increases was greater than those reporting a cut new research has claimed.

Link: VCs predict 2004 ‘product frenzy’

According to the annual Harvey Nash CIO/IT Director survey, of those firms that did report an increase on IT spend it was to a significant degree – 18% on average.

‘It seems as though the recovery is finally starting to take hold,’ said Simon La Fosse, director at Harvey Nash, in a statement.

‘The survey shows that from a CIO’s perspective, focus is shifting towards the next big thing, indicating that the swing from cost containment to innovation has started,’ he added.

But CIOs are struggling to make their make voices heard. Only 15 per cent have a place on the main board and while over three quarters of CIOs believe they should report to the chief executive, less than half actually do.

La Fosse said CIOs need to address larger, strategic issues within organisations if they are to be considered equal with board members.

‘The need for a sound IT strategy and strong relationships with the board is more important now than it has been for many years,’ he added.

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