A Look Ahead: IT Budgets and Changing CIO Priorities in 2023
Miao Song and Ruwanthi Fernando on the Impact of Economic Downturn on IT Plans
As macroeconomics remains downbeat, Miao Song, global CIO, GLP, and Ruwanthi Fernando, chief information and process officer, Hela Apparel Holdings believe 2023 is going to be tougher for CIOs. As IT budgets come under the scanner, conversations around every single project will shift from ‘cost’ to ‘value’ in terms of contributing to business growth and enabling new business models.
While the overall IT budget might not get hit, both Song and Fernando foresee spending on lower-priority items getting cut off, requiring CIOs to invest much more strategically and intentionally.
Ingenious application of digital technologies will be on top of the CIO agenda as more eyes turn to the CIO office to help cushion the business against recession and drive growth amid uncertainty.
In this discussion with Information Security Media Group, Song and Fernando analyze:
- The impact of the economic downturn on IT investments and roadmap;
- Technology priorities for 2023;
- How CIOs can help cushion the business and drive growth.
Song has more than 27 years of global experience in leading IT operations, management, and strategy and planning for leading organizations, including Nestle, Shell, Johnson & Johnson and Mars. As an executive committee member at GLP, she is responsible for all aspects of digital, technology and data transformation.
Fernando has worked extensively across different industries, ranging from manufacturing, transportation and logistics to IT services and retail apparel during a career spanning more than 25 years. Currently, she oversees the digital transformation strategy for Hela, with a focus on making the company connected, data-driven and secure.
