VANCOUVER, Feb. 10 /CNW/ - A survey of European and Canadian CIOs conducted jointly by the CIO Association of Canada and EuroCIO, has revealed some significant differences in business  esponse to the economic downturn.

Dr. Catherine Aczel Boivie, Director of Strategic Partnerships and founding president of the CIO Association of Canada, and CEO of Inventure Solutions, has just published an article summarizing the results. (Link to the article below)

Eighty percent (80%) of the EuroCIOs expect an IT budget reduction compared to just over 50% of the responding Canadian CIOs, but where Canadian cuts occur, they are expected to be deeper (12% vs. 8%). Budget cuts will be achieved through various methods: hiring freeze; postponed investment; more disciplined review of all discretionary expenses; reductions in consulting fees; and possible lay-offs. All CIOs anticipated that approval of multi-year projects will be more difficult, but while European CIOs will be focusing on putting forward projects that show a positive ROI within 12 months, Canadian CIOs are more likely to be looking at long-term strategy, and the opportunities that the economic downturn affords for explosive recovery.

Differences also show up in expected changes to outsourcing (Europeans predict more - justified as an internal cost-cutting strategy; Canadians expect less - outsourcers risks would be added to company risks).

"CIOs on both continents agree that the need for continued innovation in IT is critical to both the short-term and long-term health of their companies", says Dr. Boivie. "In Canada, CIOs are now accepted members of executive strategy teams. In the short term we'll be seeing actions that employ IT resources to bring quick gains to mitigate the effects of the recession. But we'll also be seeing a continued focus on the long-term - we all acknowledge that the future of Canada's economy depends on it."

Source CIO Canada  ( www.ciocan.ca)