The economic tumult of the past 18 months has affected every facet of corporate operations, and it has not spared IT. In McKinsey’s fourth annual survey on information technology strategy and spending, we asked chief information officers (CIOs), chief technology officers (CTOs), other executives in the IT function, and additional C-level executives about their companies’ business technology agendas, the impact of the recession on their IT organizations, and their approaches to developing and executing IT strategies.¹

The results affirm the continuing importance of IT to strategic success, despite the recession. CIOs have felt strong pressure to deliver ever greater levels of efficiency in the downturn, but overall satisfaction with IT organizations remains high. In addition, most respondents foresee an increase in IT investment, perhaps because companies are applying IT to solve problems across the business. Meanwhile, as technology-related disruptions continue to affect businesses, executives persist in pushing for closer integration between business units and IT.