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VP of Information Technology – What Do They Do?
As the technology market has grown, so has the role of the VP of information technology. The responsibilities of this high-level executive have expanded exponentially, ranging from strategic planning to implementation, budgeting, and even sales.
The VP of information technology also takes on some management responsibilities, such as hiring, training, and managing other IT staff. The VP is also involved in developing the information technology strategy for the company.
Let’s go into detail about some of their responsibilities.
Strategic Planning
The VP of IT is one of the main strategists for the company, especially in today’s environment where technology plays a critical role in every business operation. This means that they are responsible for developing a long-term plan to improve business efficiency through technological innovation.
They are responsible for technology planning, including budgeting for equipment upgrades and software purchases. This requires the VP to understand the business goals of the organization.
The VP of IT is responsible for the information technology strategy, which is usually mapped in a document called the IT Strategy or IT Plan. This plan is updated annually and often in between if there are major changes in the business and technology environment.
Implementation
This means that the VP of information technology is responsible for carrying out the IT strategy. It includes getting approval from upper management to purchase new hardware and software, and then managing the implementation efforts.
This phase can be very time-consuming due to budget restraints and purchasing delays. It also requires a lot of coordination with other departments. For example, if the company purchases a new server, it must be connected to existing network equipment and configured appropriately.
The IT staff is the one primarily responsible for installing and configuring the hardware and software. However, the VP must oversee these efforts and make sure they are done according to the IT plan.
This is especially important for equipment purchases that need to be integrated with existing systems. It’s also critical for software acquisition, as installing unapproved software can open the company to potential security risks and legal troubles.
Even with all this responsibility, the VP of IT still needs to stay on top of technology trends. They must be able to foresee emerging technology trends and their implications for the business. This includes understanding the benefits and drawbacks of new technologies for achieving business goals.
Budgeting
The VP of IT is responsible for preparing the yearly budget for information technology. This includes getting approval from the management team and board of directors.
After the budget is approved, the real work begins. The VP needs to ensure that all projects and activities are within the approved budget. If there are additional expenses, they must get approval first. This means that they must constantly monitor project costs and expenditures.
The VP of IT should also track spending by comparing planned spending with actual spending. This will help them learn from past mistakes and identify areas for improvement.
Sales & Marketing
VPs of IT are often involved in sales and marketing efforts as well. Many major technology vendors have a dedicated VP of marketing to help promote their products.
