New York -- Strong partnerships between the top information officer and others on the leadership team are crucial to success. According to a study by PwC US, companies with strong, collaborative relationships between the CIO and other C-suite executives are four times as likely to be top performing companies as those with fragmented relationships.
PwC’s fifth annual Digital IQ survey found that a strong “Digital IQ” — defined as a measure of how well companies understand the value of technology and weave it into the fabric of their organization — entails more than adopting the latest tools or having a large IT budget. It is about consistently linking IT investments to business strategy to improve speed, agility and competitive advantage. It is about integrating ‘digital conversations’ into every aspect of the business.
Digital IQ is about the CIO orchestrating rather than owning conversations,” said Chris Curran, a PwC principal and chief technologist for the US firm's advisory practice. “Social media, mobile channels and data analytics, along with the cloud, are making new business and operating models possible. Because enterprise responsibility lives across the C-suite for these issues, collaborative digital conversations are critical to bring it all together and evaluate and adopt these technologies.”
The survey findings show companies with strong, collaborative C-suite relationships act differently and think together from strategy through execution.
Among their traits, they: