The world of CIOs has been in disarray, an investment ban into IT solutions across sectors seems to have been lifted and where to spend the money is key to all industry verticals.

It is forecasted worldwide IT spending to reach $3.4 trillion in 2010, representing a 5.3% increase from IT spending of $3.2 trillion in 2009. The research firm also points to hardware as a key driver to IT spending. For instance, worldwide computing hardware spending is forecasted to reach $353 billion in 2010, a 5.7% increase from 2009.

CIO's and heads of IT functions have been fighting a battle to regain control of the IT landscape and the IT investment decisions. Typically this results in a fragmentation of IT landscapes, multiple technology deployments, shadow IT investment, islands of information and very high fixed costs of maintenance. Typically IT budgets are greater than 90-95% spent on keeping the lights blinking and fixing faults, this in turn can lead to high operational costs within corporate business departments, for example purchasing and finance.

Over the last 20 years IT departments have found there bread and butter to be managing the data interfaces between mutually heterogeneous systems, this has to change, but How? The CIO Europe committee has been formed to combat modern day challenges.

With a new generation of CEO's who are embracing the strategic innovation of today's CIO's as business peers, now is the time to take a fresh look at the future. Any successful company must now engage with its customer using technology, it is now imperative that the CIO has a place on the executive table. Global companies such as Omya, Sandvik and EDF Energy will be sending their CIO's to the CIO EU summit to shape the future. The role of the CIO has not always been clearly defined but at last they are not only accountable for technology operations, but also the drive for innovation, to fuel growth, enable change and create a competitive advantage. It is key for the CIO to focus outside the walls of the company in regards to markets, customers and sales opportunities and then develop strategies to suggest, develop and execute product strategies to take advantage of said opportunities.