While most boards of directors appear to acknowledge the importance of information technology to their companies' business goals, the fact is that many–if not most–directors are disengaged from their company's IT strategy, according to a survey conducted by Deloitte Consulting LLP. The results are all the more surprising since 67.5% of those agree there is connection between the attention paid to IT and superior corporate performance. “There is a correlation between business performance and the level of engagement between boards and their IT strategy,” says Adam Broun, a principal at Deloitte Consulting. “Yet at the same time, there is an enormous gap in just how engaged board members are.”

Broun describes a lack of background and familiarity with the function of IT on the board, but he also acknowledges that IT needs to meet the board halfway. “Discussion with the board has to be framed in ways that resonate with the issue that they are trying to address,” says Broun. “You don't go and talk about the virtues of one programming language versus another. You need to frame IT issues within the context of corporate strategy.”

Broun notes the role that CFOs and treasurers can play in bridging the gap between the board and IT. In the survey, 29% said that the CFO leads the IT strategy discussions that take place with the board. “CFOs and treasurers can play an important bridging role in presenting the strategic case for IT since they can frame the discussion in terms of ROI, corporate governance, capital allocation, strategy, of shareholder value and return and other important financial metrics,” Broun explains.