In 2017 Deloitte research found that high-performing S&P 500 companies mostly (31%) had a technical board member. In 2021 one can’t imagine meeting digital transformation requirements without tech expertise.
Why It’s Important
Technical board members add their insights and expertise and invest their experience in the wellbeing of the company. Technology knowledge includes digital, social media, e-commerce, tech infrastructure, and specifically cybersecurity that is the most demanded area right now.
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Here are the benefits of having tech board member:
- Improvement of business solutions by translating models to systems.
- Tech-security and cyber risk assessment, providing advice, and improving existing systems.
- Understanding the technology used in products and services, effective problem-solving.
- Unique strategic perspective and a better overview of all digitized business processes.
- Managing, improving, and explaining technology spendings.
Having a professional with a technical background as a board member means supporting important tech decisions with the right strategy and management structure for both services and products and internal digitization.
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