However, looking into the future, the gap starts to close for 2021 planning, with 69% of top performers planning to increase digital innovation funding compared to close to 68% of typical performers.
Even more telling is what differentiates the process of gaining additional IT funds in top versus trailing organizations. At top organizations, CIOs face fewer constraints, with 28% saying that they have secured additional funding specifically to support more experimentation/risk-taking in IT. That number is closer to 19% for trailing organizations.
What CIOs can do
Ensure that IT’s initiatives align with digital business acceleration and draft business cases around digital channels. Look for back-office projects for finance, marketing or HR that can be put on the back burner to reallocate funding to digital innovation.