The CIO Summit of America brings together 200+ IT Leaders
Despite the challenges imposed by the global economic downturn, Chief Information Officers (CIOs) and other senior IT leaders have an unprecedented opportunity to leverage existing information technology investments to lower their organization's overall operating expenses, says Dr. Howard Rubin, president and CEO of Rubin Worldwide in Pound Ridge, N.Y.
Rubin provided the keynote address at The CIO Summit of America, an IT/business leadership conference held at The Harvard Club of New York City on June 8. The event, which focused on strategies and best practices designed to help organizations address the current financial crisis and prepare business and IT for the new economy, was organized by HMG Strategy, LLC, a Westport, CT-based firm. The event was held in association with the Society for Information Management's (SIM) Fairfield/Westchester, New Jersey and New York Metro Chapters.
Rubin, who is also professor emeritus of Hunter College of the City University of New York, drew upon his benchmarking expertise to point out several examples of how organizations can transform their fixed costs to variable costs and by doing so lower their IT cost of goods to help drive operational improvements.
Organizations that employ an optimal mix of technology investments to grow and protect their revenues and to reduce and avoid costs at a managed level of risk, can outperform their peers by 3%-to-5% of pre-tax profit margins, says Rubin.
"We're in the age of discovery in technology economics," says Rubin. "It's a burgeoning field and there are tremendous opportunities for those who leverage them."
Forward-thinking CIOs such as Todd Thompson are exploring those types of opportunities. Starwood Hotels & Resorts Worldwide, Inc., where Thompson oversees global IT, is starting a pilot program among its European hotels to utilize a centrally hosted property management system as part of its efforts to reduce costs and move the systems out of the hotels themselves, he says.
The CIO Summit of America is just one in a series of upcoming events designed for CIOs/IT leaders being produced by HMG Strategy (see details below). The June 8th event "provided an open and honest forum for Chief Information Officers to connect and discuss their most pressing issues in respect to innovation and genuine business value creation," says Shawn Banerji, managing director at Russell Reynolds Associates.
"The CIO Summit of America was a world-class event with top CIO speakers and panelists covering technology innovation and business leadership issues as well as career management," adds Mark Polansky, senior client partner and managing director of the information technology officers practice at Korn/Ferry International.
Upcoming 2009 events:
Dallas, CIO Executive Leadership Roundtable, September 14, 2009
New Jersey, CIO Executive Leadership Roundtable, September 24, 2009
Stamford (CT), CIO Executive Leadership Summit, October 27, 2009
San Francisco, CIO Executive Leadership Roundtable, November 10, 2009
Chicago, CIO Executive Leadership Roundtable, December 4, 2009
HMG Strategy, LLC
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