Here are five ways CIOs can guide tech companies through economic uncertainty:
- Prioritize cybersecurity: CIOs faced with the prospect of budget cuts should avoid trimming their cybersecurity budget. “I don’t ever go to that hunting ground to save money. If I get a budget challenge, it doesn’t come out of cyber,” Kellogg Global CIO Lesley Salmon told the Journal.
- Focus on efficiency: Continued investment in automation processes can help a company save time and money during an economic crunch.
- Rethink hiring strategy: CIOs should take the time to rethink their hiring strategy and slow their pace of hiring. At the same time, CIOs should be on the lookout to hire recently laid off top-of-the-line tech talent.
- Look beyond IT: Continued collaboration with different business units can help drive efficiency and save costs.
- Focus on the long term: CIOs should work to convince corporate leadership that recessions are temporary and it is still important to invest in long-term areas of growth.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.