Executive briefing. Born to be digital. How leading CIOs are preparing for a digital transformation. Born to be digital

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1 Executive briefing Born to be digital How leading CIOs are preparing for a digital transformation Born to be digital 1

2 About this report EY s Born to be digital: how leading CIOs are preparing for a digital transformation, published early 2014, surveyed over 180 CIOs, chief technology officers and subject matter experts from a range of industries that use IT intensively. For the report, we spoke to representatives of industries with the highest average spend on IT as a percentage of total revenue. We selected businesses that spend a substantial portion of their budgets on IT because they are also likely to be investing in digital technologies. Through this, we strove to identify how the skills, approach and mindset of a traditional CIO 1 would have to change with the digital transformation. Born to be digital spanned key global markets and focused primarily on large firms: 27% had annual revenues between US$500m and US$1b, and the rest were larger, including 20% with revenues of at least US$10b. From this sample, we identified and profiled a subset of CIOs in IT-intensive industries who focus the majority of their time on the most strategic elements of their jobs. We called these the digital-ready CIOs. This document is an executive briefing. The full version and the methodology of Born to be digital is also available for download. 1. Traditional CIOs or typical CIOs refers to CIOs in non IT-intensive industries as questioned for The DNA of the CIO, EY, Born to be digital 2

3 Born to be digital explores four core themes: Setting the scene: the rise of the digital business The DNA of the IT-intensive industry CIO A mindset for change: six traits of the digitalready CIO Are you born to be digital? Self-assessment for the leading CIO This report is focused on the sectors identified as being most ITintensive, in terms of annual spending on IT as a percentage of revenue. Those sectors include technology (including hardware, software and other IT services), financial services, life sciences, telecommunications, online and e-commerce. Born to be digital 3

4 The rise of digital AbstractDigital technologies including social media, the cloud, data analytics and mobile are rapidly emerging as disruptive forces for businesses in all industries. They are fundamentally changing the ways in which consumers interact with companies and brands, while also opening up new business models at the heart of these firms. With every month that passes, more services go digital. Just think: when did you last book a flight without going online? Or go into a bank branch to transfer funds? This race for digital presents a huge opportunity for CIOs, especially those who aspire to take on bigger and more influential roles. Report highlights CIOs see digital as a major opportunity to fulfill their career aspirations. Proactive CIOs within IT-intensive industries are better suited to transforming their businesses and their careers. Despite having a seat at the top table, not enough CIOs are grasping the potential for digital transformation. This is opening the door for new specialist roles, such as the chief digital officer. The CIOs who are most strongly aware of the key role they have in developing business show a distinct set of six characteristics that help them stand out. Born to be digital 4

5 71 % of digital-ready CIOs and 51% of IT-intensive industry CIOs strongly agree that they are taking the lead in pioneering new digital approaches within their businesses. 57 % of digital-ready CIOs are highly engaged on core strategic issues. 53 % of CIOs within IT-intensive industries hold a seat at the executive management table, compared with just 17% of CIOs in all industries. 87 % of digital-ready CIOs are discussing IT s role in business transformation. Digital-ready CIOs are those who prioritize shaping the future of their businesses with the right technology, as well as preparing and developing their organizations for change. They have different mindsets and ways of thinking. The six core traits of digital-ready CIOs Have a clear strategic vision of how technology will transform business and know how to implement it Are relentless innovators Focus closely on driving growth and the relationships they need to support this Ensure their vision is understood Move beyond operations and infrastructure Are courageous risk-takers Born to be digital 5

6 Proactive and positive: how digital-ready CIOs make their mark Abstract Digital-ready CIOs are typically more able to: Reframe their thinking and present a positive story to the rest of the business about the future that technology can deliver. Seek to create value proactively, with strong engagement across everything from product innovation and operational agility to supporting decision-making. Manage expectations carefully, walking a fine line between keeping their businesses excited about the potential of IT, and keeping a realistic sense of what s possible. Remain eager to keep developing their skills and capabilities. In return, these CIOs reap the rewards: Seventy-one percent of digital-ready CIOs strongly agree that their standing within the business has materially improved over the past three years, compared with just 54% of CIOs in IT-intensive industries overall. They are seen to hold better career prospects and are more highly regarded in the business. Sixty percent are able to influence broader company strategy, compared with only 45% of their traditional CIO peers. They are more satisfied in their job and how it is perceived externally. Born to be digital 6

7 Section 1 Setting the scene: the rise of the digital business A core set of digital technologies mobile, social, the cloud and data, among others are transforming companies at both an operational and a strategic level. These technologies are unleashing a wave of IT-led innovation, and creating new revenue and cost-saving opportunities. Online retailer Amazon is using digital to interact in new ways with its customers. Its recent devices include a dedicated button that connects users to a helpline attendant via oneway video chat, bringing a human element back into a routine support function. As a recent EY report The digitisation of everything suggests, the corporate world is seeing three core changes: 1. Using digital to enhance traditional business models, such as moving from selling products to providing services 2. Transforming existing business models to offer new digital services 3. Inventing completely new types of business models from virtual currencies in online games, to selling digital data 2 This digital transformation is moving fast. In a MITSloan survey of executives from different business functions across a wide range of industries, nearly 80% of respondents said that achieving digital transformation will be critical to their businesses within the next two years. 3 It is also enabling organizations of all shapes and sizes to reinvent themselves. For leading CIOs, this presents a major opportunity to expand their role and remit if they are willing to take it. 2. The digitization of everything: how organisations must adapt to changing consumer behaviour, EY, Embracing digital technology, MITSloan Management Review, MITSloan, Born to be digital 7

8 The CIO divide ahead These transformations are essential to business longevity, but they will also create profound challenges for the firms making or seeking to make them. And, given the strategic nature of the changes that a digital transformation requires, they also have major implications for CIOs. With the pace of the move from today s systems to tomorrow s digital technologies, there is a need for CIOs to be faster and more reactive in supporting innovation and growth. In a previous research report, The DNA of the CIO, we revealed that 64% of all CIOs are happy in their current roles and comfort zones. 4 Only 31% say that they aspire to move into a more powerful job with greater influence over the rest of the business. 5 But for those CIOs who do have aspirations to take on a bigger role, digital can provide an opportunity. And it requires the ability to recognize and adapt to this shift. This is a major shift for CIOs, away from their historical focus on running an efficient IT center and toward a focus on innovation. Some are able to make that shift, but others don t have that ability. Bob Sydow, Americas IT Advisory Leader at EY This is especially apparent in a core set of sectors including technology companies, banks and life sciences firms that already spend a high proportion of their revenue on IT. 4. The DNA of the CIO, EY, Facts about Chief Digital Officers, Dave Aron, Gartner, 6 November When I look at the sales and marketing organizations, the amount of automation and data-driven information that they use in their daily business is magnitudes bigger than just a couple of years ago. Michael Golz, CIO Americas, SAP Born to be digital 8

9 Section 2 The DNA of the ITintensive industry CIO Companies of all sizes, across all sectors, are embracing digital. Given such a broad scope, our survey for this report focused on the most ITintensive industries globally those with the highest average spend on IT as a percentage of total revenue because these firms are most likely to be engaging with digital. Our focus captures firms with IT at the heart of their business banks, pharmaceutical companies, telecommunications and media firms, and, of course, technology firms. These organizations, where IT is a core boardroom topic, provide ideal launchpads for aspirational CIOs. IT-intensive industries leading the charge IT-intensive industries are setting the pace for digital transformation. Overall, 51% of CIOs within these industries report that they are already strongly engaged in leading the implementation of digital technologies. 6 One of the most striking differences among this group is that 53% hold a place on the executive management team, compared with just 17% of typical CIOs. Being a part of the executive management team is vital for CIOs to help address the opportunities and threats that digital transformation presents. But even those who make it to the boardroom often fail to capitalize on the opportunity to make the case for more strategic engagement on IT across the business. Why do CIOs struggle to get this right? In part, there is the need for a transition in mindset when moving from an operationally focused role to one that is more strategic. While IT-intensive industry CIOs who have reached the boardroom show stronger engagement on a wide range of issues, more needs to be done to prioritize the strategic elements of their role. 6. Terms such as strong, deep or key refer to respondents that chose 8, 9 or 10 on a scale from 1 to 10, where 1 is the lowest and 10 is the highest. Born to be digital 9

10 53% of IT-intensive industry CIOs hold a seat at the executive table well ahead of 17% of typical CIOs. Engagement on strategic issues IT-intensive industry CIOs are also marked out from typical CIOs by their stronger focus on business performance and challenges. In addition, typical CIOs create business value by focusing on IT budgets and costs, whereas CIOs in IT-intensive industries supplement this with a clearer focus on supporting growth and an emphasis on product innovation, minimizing risks and contributing to the operational agility of their businesses. IT-intensive industry CIOs Typical CIOs 55 % 36 % Discussing business performance with the executive management team Born to be digital 10

11 Many CIOs now have a seat at the boardroom table, but they don t know what to do with it. Bob Concannon, Partner, KornFerry When executives are pushed to focus on higher-level strategic issues, there is an inevitable shift in the skills they need. IT-intensive industry CIOs acknowledge a greater requirement for softer skills, such as: Communication and influencing Leadership Change management This recognition of the demand for a broader range of skills is also reflected in the education and job experiences of IT-intensive industry CIOs, which is often more diverse. However, many still struggle to translate the need for stronger communication and influencing skills into practical reality: Few appear to hold stronger relationships across the business than typical CIOs. In fact, they often have weaker relationships. This is true both internally and externally, stretching from the chief executive officer or chief financial officer to regulators and customers. For IT leaders who hold as much sway as they do to influence other parts of the business, this is a missed opportunity. IT-intensive industry CIOs Typical CIOs 87 % 90 % 83 % 79 % 81 % 74 % Top three skills needed to succeed Communication and influencing Leadership Change management Born to be digital 11

12 Section 3 A mindset for change: six traits of the digitalready CIO While an IT-intensive company 7 can provide the ideal context for CIOs to embrace digital, doing so requires the individual in question to lead this change. In short, it demands a different mindset. To delve deeper into this mindset, we assessed the characteristics of those CIOs who are strongly engaged in the most strategic elements of their jobs: business transformation and business model-related innovation. The CIO s contribution in any business can be wide-ranging in its scope Execution: CIOs are involved in the execution of the basics keeping systems up and running, while keeping close tabs on the organization s overall IT spend. Enablement: this is where a more operational focus starts to give way to something more strategic in nature from improving business decisions by acting as an information broker to enhancing business processes proactively. Development: at the highest level, CIOs are called upon to help develop the business further. From delivering business transformation through to introducing business model innovation, this can be the most rewarding part of the job. 7. Companies from industries with the highest average spend on IT as a percentage of total revenue, e.g., banks, pharmaceutical companies and telecommunications firms. Born to be digital 12

13 Delivering transformation Core skills Leadership skills to drive through change in IT Enabling and leading business transformations by driving IT transformations Proactively recommending transformations to board members in order to strengthen and maintain competitive advantage Setting and communicating the vision and strategy for IT Providing robust but constructive challenge to business stakeholders Communicating clearly the IT and risk implications of proposals Sponsoring delivery of planned transformation or major change initiatives in the IT function Key areas of experience Large-scale transformation management Scenario planning Change management Managing external customer relationships Managing internal customer relationships Internal communication of proposed changes and implications Operational areas, such as supply chain, finance and HR Cultural expertise Core knowledge Detailed understanding of IT s role in business transformations Awareness of proposed organizational change and transformation projects Knowledge of strategic and operational planning Knowledge of program and portfolio management techniques Knowledge of change management techniques and pitfalls Practical understanding of people management implications during change and transformation projects Key relationships Chief financial officer Chief executive officer Chief operating officer Chief human resource officer Head of corporate development and strategy Bringing business model innovation Core skills Anticipating future impact of latest trends on IT function and the business Radically innovating existing business models Utilizing IT as the enabler for innovative business models Sharing thoughts on existing and new business models with board members and other business executives Engaging with business stakeholders to determine the appropriate role for IT Influencing key stakeholders and winning trust and support for IT projects Turning strategic plans into operational plans and targets (including defining KPIs and monitoring progress) Key areas of experience Business model innovation Business acumen Scenario planning Business case creation Marketing, communication and customer relationship management Operational areas, such as supply chain, finance and HR Core knowledge Awareness of industry and organizational risk profile Awareness of the market and commercial environment Knowledge of business modeling and design thinking Knowledge of innovation management best practices Know how to adopt best practices from other areas or competencies Detailed understanding of IT s role in business model innovations Key relationships Chief innovation officer Chief marketing and communications officer Head of product development Chief financial officer Chief executive officer Chief operating officer Head of corporate development and strategy Preparing and developing the organization for change 100% DEVELOPMENT Shaping the future of the business with the right Controlling the technology impact of IT 100% spend on the organization 54% 52% 55% 48% 54% 48% 61% EXECUTION Ensuring the IT and security 78% needs are up and running Digital-ready CIO IT-intensive industry CIO (Percentage of respondents who have chosen 8, 9 or 10 on a scale from 1 = much less a priority to 10 = much more a priority) 81% Sustaining and extending the organization's strategies and objectives 68% Providing insight to support business decisions ENABLEMENT Born to be digital 13

14 Digital-ready CIOs are those who prioritize shaping the future of their businesses with the right technology, as well as preparing and developing their organizations for change. They have different mindsets and ways of thinking. Digital-ready CIOs are those CIOs who rated 8, 9 or 10 on a scale of 1 to 10 on the corporate development aspects of their roles based on the wheel model. As EY s The DNA of the CIO revealed, these qualities are what best enable CIOs to deliver on core business changes, such as the digital transformation now under way. In analyzing strategic CIOs in IT-intensive industries, whom we call digital-ready CIOs, we found that six distinctive traits stood out. The six core traits of digital-ready CIOs Have a clear strategic vision of how technology will transform business and know how to implement it Are relentless innovators Focus closely on driving growth and the relationships they need to support this Ensure their vision is understood Move beyond operations and infrastructure Are courageous risk-takers Born to be digital 14

15 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs have a strategic vision of how technology will transform the business and know how to implement it. 1 By definition, all digital-ready CIOs have a clear vision about the future of their businesses. They have a powerful sense of how and where digital can transform product development or sales and marketing and open up new lines of revenue. Digital-ready CIOs place more importance on the close understanding of their market or industry (70% compared with 52% of IT-intensive industry CIOs). But digital-ready CIOs work hard to tell that story in comparison with IT-intensive industry CIOs in general. Eighty-seven percent of digitalready CIOs focus on making the case for IT s role in business transformation to the executive management team, compared with only 72% of ITintensive industry CIOs. The digital-ready CIO also has the ability to deliver on their vision, drawing on: Ability to deliver on a vision is just as important as the vision itself 83% of digital-ready CIOs put a high value on designing and executing business strategy, compared with 67% of IT-intensive industry CIOs. An intimate knowledge of the firm s business architecture An ability to manage and drive complex implementation programs IT-intensive industry CIOs 72 % 73 % 55 % Discussing IT's role in business transformation Discussing IT budgetary issues and infrastructure management Providing facts as basis for strategic decisions Digital-ready CIOs 87 % 78 % 70 % Top three engagement areas with the executive management board Born to be digital 15

16 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs innovate relentlessly. 2 Eighty-one percent of digital-ready CIOs see the need to innovate both at a business model level and in terms of new products and services, compared with 64% of IT-intensive industry CIOs. Digital-ready CIOs more often explore how: Digital can create new mobile interfaces or e-commerce solutions Social media can be used to reinvent customer service or collaboration Digital can help uncover new data-driven insights Overall, 71% of digital-ready CIOs strongly affirm that they are responsible for driving disruptive new technologies such as cloud, mobile and analytics compared with only 51% of IT-intensive industry CIOs. They are also far more engaged in the question of how to open new markets. 65% of digital-ready CIOs are highly engaged in helping research and developing new products and services. Seventy percent of digital-ready CIOs are aware they can add value by analyzing and innovating existing business processes, ahead of 61% of IT-intensive industry CIOs. IT-intensive industry CIOs 51 % Digital-ready CIOs 71 % CIOs responsibility for driving disruptive new technologies Born to be digital 16

17 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs focus closely on driving growth and the 3 relationships they need to support this. Now we re in a world where things are instant whether it s data consumption, acquisition or analytics, people expect answers immediately. To deal with this, IT and marketing must get closer. Michael Golz, CIO Americas, SAP Digital-ready CIOs are looking toward the forefront of the business, seeing how technology can help drive growth by changing the way the company markets and sells its wares. Clearly, this implies a closer emphasis on fostering relationships with those who are driving sales. And while CIOs often fail to realize the value of their company s external clients to their careers, digital-ready CIOs are far more engaged. Many others also realize the importance of roles such as the CMO or head of sales to their career. Fifty-nine percent of digital-ready CIOs say they have a very strong relationship with their CMOs, compared with just 37% of CIOs in IT-intensive industries. IT-intensive industry CIOs Digital-ready CIOs 37 % 37 % With customers With the CMO 52 % 59 % Strong relationship Born to be digital 17

18 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs ensure their vision is understood. 4 The ability to craft a compelling story about how technology can transform a business is vital: digital changes the way many businesses work, but people have to buy into this vision and understand the benefits. In short, CIOs need to be master storytellers. Digital-ready CIOs recognize this need. Nine out of 10 cite communication and influencing skills as strongly important: being able to explain corporate strategies, product strengths and go-to-market programs all in the language of the C-suite. At the same time, digital-ready CIOs are using media channels to drive their influence and build their presence internally and externally often in unexpected ways. Herman de Prins, CIO at pharmaceutical firm UCB, who prefers to keep work-related topics out of social media, uses his passion for cycling as a source for non workrelated updates and links them to technology. In turn, this has helped him to forge a range of positive connections across the business. 90 % 90 % Leadership 83 % Communication and influencing Change management The digital-ready CIOs top three skills to succeed Born to be digital 18

19 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs move beyond operations and infrastructure. 5 If you want to run the operations yourself, that is a huge management demand, so it will affect your abilities on strategy and innovation. You cannot do both. Bruno Ménard, CIO, Sanofi Digital-ready CIOs do more to move beyond operations and infrastructure issues. They see these as foundational elements that should be run as efficiently as possible, freeing up their time for the more strategic aspects of their role. Many noted that traditional IT leaders appear to be no more than infrastructure managers. Instead, digital-ready CIOs have been placing more attention on other issues, such as enhancing business processes and preparing their organizations for change. Even so, they do not forget the operational elements understanding that smooth operational running is what allows them to broaden their focus. IT-intensive industry CIOs 45 % Digital-ready CIOs 60 % Satisfaction with their ability to influence broader company strategy Born to be digital 19

20 Digital-ready CIOs vs. IT-intensive industry CIOs six distinctive traits Digital-ready CIOs are courageous risk-takers. 6 Finally, digital-ready CIOs must be brave enough to take a bet on emerging technologies. This involves a willingness to risk failure an understanding that not all digital projects will deliver as hoped. CIOs must experiment widely to identify the biggest opportunities for the future. Tight budgetary pressures are often cited by CIOs as the reason why a new project can t push ahead. But digital-ready CIOs are more often willing to find ways to turn such pressures to their advantage. While nearly all CIOs have these concerns, digital-ready CIOs are more willing to embrace risks. Equally, digital-ready CIOs place no greater emphasis on IT budgets and spending than ITintensive industry CIOs. Instead, they recognize that their value is best realized by focusing on business-enabling elements and identifying where operational IT savings can best be reinvested to innovate the business. Digital-ready CIOs need to be more innovative and risktaking. But it s a real change from the traditional way of doing things, where you argue for budgets, fill in capital request forms with a business case and so on. Tom Velema, EMEIA IT Advisory Leader, EY 64 % IT-intensive industry CIOs Digital-ready CIOs 81 % Bringing innovation to both the business model and the development of new products or services Born to be digital 20

21 The DNA of the digital-ready CIO He or she (yes, 13% are women above the average for CIOs overall) is typically 45 years of age. On average, CIOs have spent a little over five years in their current roles, although almost half (49%) have been in their current roles for less than three years. Often, they hold either a businessrelated degree (52%) or a science and engineering degree (35%). They work hard to foster relationships across the business, and see that as important from a career perspective. They are happy in their work: 64% plan to remain where they are or move into a bigger CIO position, although 23% hope to run another business unit or even become CEO. Born to be digital 21

22 Section 4 Are you born to be digital? Selfassessment for the leading CIO Are you equipped to be a digital-ready CIO? With those leading the way sharing six distinctive traits, the following assessment gives you the ability to benchmark yourself against the core characteristics of today s leading CIOs. Once you have completed the assessment and worked out your score, you will find a series of pointers on how CIOs can prepare for a digital world, stand out from their peers, and position themselves to grow into this evolving role. But ultimately, the deciding factor will be whether you have the courage to act on your ambitions and push to become a digital-ready CIO. Please note, this exercise is indicative in purpose only. Individual corporate priorities will vary from business to business. Born to be digital 22

23 Q1 How detailed and specific is your vision for the way digital technology will transform your organization? I don t currently have a plan, but will look to see where other business units adopt digital and where it can gain most traction. 1 pt I recognize the importance of it, and am developing a plan or road map for how digital can be embedded into our existing business functions. 3 pts I have an in-depth plan for how digital can transform our business, across all major business functions, with a specific implementation road map linked to it. 5 pts Question 2 Born to be digital 23

24 Q2 How involved are you in the innovation process? 1 pt I have limited involvement in innovating at a business model level. I recognize the importance of being engaged in innovating at a business model level, and am taking steps to become more involved. 3 pts Question 3 5 pts I am highly engaged in innovating at a business model level and in terms of new products and services, often leading our internal discussions on this. Born to be digital 24

25 Q3 What is your input in actually driving growth within the business? I have little or no direct impact on driving growth within the business. New technologies I help implement directly support growth, but I act primarily in a support role to key business unit stakeholders. I proactively look for new technologies that might enable growth in the business while simultaneously fostering close relationships with the front of the business to assess their needs. 3 pts 1 pt 5 pts Question 4 Born to be digital 25

26 Q4 How do you seek to ensure that your vision as CIO is communicated and understood throughout your organization? Question 5 1 pt 3 pts 5 pts I have yet to convince those in my organization about my vision for the future, and find this very demanding. I recognize the importance of communicating my vision for the future, and I am taking steps to improve the delivery and language used. I am confidently communicating my vision for the future in a language that my C-suite peers are comfortable with, and using a variety of channels to spread this message. Born to be digital 26

27 Q5 How much time do you spend on operations and infrastructure in your daily routine? More than 50% of my time. 1 pt 10% 50% of my time. 3 pts Less than 10% of my time. 5 pts Question 6 Born to be digital 27

28 Q6 What is your approach to risk-taking? I think IT has to be managed for the downside, to mitigate any risks, rather than the upside. 1 pt I experiment with emerging technologies when budget and time pressures allow. 3 pts I carve out time to make sure we prudently experiment with emerging technologies despite the possibility of failure to ensure we don t miss anything transformative. 5 pts Score Born to be digital 28

29 Your score Less than 10 pts You are only just beginning your journey to becoming a digital-ready CIO. To accelerate your progress, consider taking the following steps: Don t let operational IT overwhelm you. Leading CIOs must ensure that operational issues are a side dish, not the main meal, in what they serve up to the rest of the business. Prioritize innovation wherever possible, at both a process and a business model level. To truly deliver on the wide-ranging new opportunities to create more efficient processes that digital presents, you ll need a firm grasp of the corporate business and operating model. Build close relationships with the front of the business. Digital holds the promise of making IT a genuine source of growth, but requires close relationships across the front office starting with the CMO and extending to the end customers. Be willing to take risks. Embracing new technology involves a leap of faith. Don t get caught up in the downside risks, but focus on the potential to transform the business. Born to be digital 29

30 Your score pts You are making good progress toward becoming a digital-ready CIO. Having mastered some of the core characteristics, you can broaden your thinking on key issues by being mindful of the following: Give a detailed vision for how technology can transform the business and a plan to implement the transformation. Pushing the digital transformation agenda forward requires a compelling and credible vision, and understanding the necessary steps to achieve it. Be willing to move around, both across functions and companies. Many leading CIOs rarely spend their entire careers in one place, but hop around to gain exposure to different experiences and approaches. Prioritize innovation wherever possible, at both a process and a business model level. These two aspects are fundamental to driving digital transformation. Those who push hardest, and use innovation to change and develop their business, are the ones most likely to be building a truly digital business. Born to be digital 30

31 Your score pts Congratulations, you can count yourself among the digital-ready CIOs! Your peers at this level constantly push themselves to improve further, so don t stop learning. Consider the following as you prepare to seize the opportunities presented by digital: Be a spellbinding storyteller. It is human nature to be swept up by a compelling story line and the possibilities it contains. The best CIOs are able to provide a narrative about IT that the rest of the business can buy into. Design and deliver on your vision for a technology-driven business transformation. Leading CIOs require a powerful sense of how and where digital can transform product development, or sales and marketing, and how it can open up new lines of revenue. You will require intimate knowledge of the business s architecture to achieve this. Improve your CV. Consider ways to develop a more powerful contacts book. Many leading CIOs take non-executive directorships or join external committees or think tanks to develop a more wide-ranging skillset. Others do MBAs to widen their educational backgrounds. Born to be digital 31

32 Learn more For more information on the wider EY CIO program, visit ey.com/cio and read our blog: cioblog.ey.com. Follow us on Digital business know-how Digital is transforming the world we live and work in. Changing the possibilities. Affecting every individual, organization, business and government. Will you seize the opportunity? Or be left behind? Want to know more about EY s digital business knowhow? Visit us at Born to be digital 32

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