In an economic downturn, every aspect of an organization undergoes stress. With shrinking budgets and a spotlight on cost efficiency, the role of a Chief Information Officer (CIO) becomes pivotal. Although a period of recession often means declining growth in IT expenditure and a considerable drop in discretionary spending, it simultaneously presents an array of opportunities for CIOs. IT, now more than ever, is a key driver of business transformation, and adept management of this critical function can not only help firms survive the recession but thrive when the economy rebounds.

