A report has claimed that organisations are incurring losses worth millions of pounds, owing to scarcity of skilled management.

According to a survey by IT consultancy Xantus, more than 41% of companies with revenues that lie between £250m and £1bn intend to enhance management skills in their units. Despite 93% believing that business relationship and management skills are not readily available, almost all the CIO’s who had participated in the survey saw a need to bolster these skills of their IT staff.

Nationwide CIO, Pete Stafford opined that the time was right to align the IT department with business strategy and what the business was planning to do. However, he believed that for this alliance to happen, both these departments must start to exist like a cohesive unit.

Many CIOs see the shortage of proper communication between the IT and other departments as the biggest hindrance in achieving proper coordination.