Research from CA Technologies shows that 87 percent of European organisations have embarked on an IT transformation programme, or intend to do so within the next 12 months.
CA said the majority (55 percent) of these organisations will rely on Project and Portfolio Management (PPM) to help address the major challenges associated with IT transformation.
CA, an active player in the PPM market, said firms will use PPM in not only the execution of the projects driving the transformation, but also in support of the planning and decision making around what the IT transformation should look like.
For its research, the supplier canvassed 85 business and IT executives during its Cloud Connected CIO Seminar Series across France, Germany, Sweden and the UK.
Cloud computing, virtualisation, mobility and other business needs are helping to drive business transformation. The research shows 90 percent of respondents either already have, or are currently investigating the deployment of a cloud strategy.
CA said CIOs need to act much more as "business service portfolio managers", making fast, informed investment decisions about the future shape of the services portfolio.
By applying PPM to IT transformation planning and execution, it said, CIOs will benefit from a holistic view of their services portfolio and will be able to put in place the appropriate controls to effectively drive IT and business change.
Helge Scheil, CA senior vice-president for PPM, EMEA, said: "PPM brings greater control and insight to IT transformation initiatives, enabling CIOs to better determine how best to leverage new and existing technology platforms to deliver maximum business value."
Financial advisor and broker BNP Paribas Personal Investors recently deployed a project and portfolio management system to improve the use of its IT resources.
BNP said the CA Clarity PPM technology will improve project governance and financial monitoring internationally. The technology is being used to optimise the completion of IT projects, leverage internal and external resources, and improve their cost allocation. The software also supports data delivery to the financial firm’s accounting systems.