Despite recognising the importance of IT to the business, senior executives do not regard technology as an important factor in innovation, according to a survey by the IT Governance Institute (ITGI).

Out of the 250 non-IT executives in 22 countries interviewed by PricewaterhouseCoopers Belgium, 59 per cent do not feel that technology plays an important role in innovative processes. Conversely, nearly half of those businesses do not measure the value achieved from IT.

But the statistics revealed that, despite disregarding the role of IT in innovation, the managers polled credited technology as an enabler of efficiency and effectiveness in the business.

The ITGI study also showed that only a third of companies rely on their IT departments to generate new opportunities.

"Executive management is generally convinced of the value of IT investments, but there is a significant lost opportunity that enterprises can close by measuring that value and paying more attention to IT's potential contributions to innovation," said John Thorp, a member of ITGI's IT Governance Committee.

"Given the current economic climate, enterprises should strengthen their governance of IT to ensure that their expenditures are delivering real value, reduce or curtail those that aren't, and pursue innovative uses of IT that can sustain and increase value."

The report offered advice to businesses such as making the chief information officer's reporting line as direct as possible to executive decision makers, and taking action to address skills-related issues.

"In their position [top executives] can ensure that training is provided to employees, and they can set the tone at the top to result in a culture change," said Robert Stroud, international vice president of ITGI.