06 Oct 5 Reasons Why Your Company Needs a Tech-Savvy Board Member
Fact: your company relies on technology.
The digitization of business has continued to boom over the past fifteen years. So much so, that it now encompasses all fields – even farmers have the equivalent of what was once considered a supercomputer in their tractors.
Information technology was previously considered operational, not strategic. Which makes sense as most companies first used computers to automate their accounting. But as technology has advanced, so has its importance in the daily lives of companies.
Here are five benefits to having CIO or CTO on your board:
- An approach that finds business solutions by translating models to systems
- The most valuable assets of a company are digitized, having a person knowledgeable in tech-security will provide protection from cyber risk
- A board-level understanding of technology used in your products or services
- A unique strategic perspective that emphasizes the ripple-effect of board decisions on company systems
- As technology spending continues to rise (security spending has risen 10x in the past ten years) your company needs representation at the board level
CIO and CTO members are now equally important to CXO officers. Smart companies can improve their board’s strategic effectiveness by adding a tech-savvy member as a director.