21st century directors can no longer afford to be anything less than tech-savvy
Given that technology is both ingrained into everyday business operations in modern day corporations, and is a competitive differentiator, a Board’s responsibility for overseeing information technology (IT) has become magnified. However, Deloitte Global Centre for Corporate Governance research highlights that while many directors agree this is the case, and they would like to devote more time and attention to IT, they simply don’t know how.
The good news is that the attached report from Deloitte US, The Tech-Intelligent Board: Priorities for Tech Savvy Directors as they oversee IT Risk and Strategy, demonstrates that directors do not need an intimate knowledge of every element of their organization’s IT systems to be able to understand IT as a business driver.
In addition, the way each organisation uses technology will guide where and how much energy it needs to assign to technology oversight.
This report examines five critical IT issues for board’s to consider. They include the organisational responsibility to ensure the major IT investments deliver on their outlay. Boards need the appropriate information to understand the financial, operational, risk and reputational consequences of IT projects on the organisation.
Board directors also need access to the host of technological tools available for better board and committee effectiveness. These IT tools enable greater communication, better sharing and more opportunity to gain insight into the risk management practices of the organisation.
Download below attachment to access the full report.