IT managers report that business units still see IT as a cost center than as an asset that can provide a competitive edge. Marilyn Dignum, IT manager at Statewide Superannuation Trust of Western Australia, said this is "absolutely" the case.

"There is reluctance by corporate management to understand IT," Dignum said. "They are good at demanding [the IT department produces] without understanding the realities."

Michael Axelsen, director of information systems at BDO Kendalls Ltd., said despite few company directors having IT skills, such knowledge is not a prerequisite for the role.

However, BDO Kendalls has a dedicated IT strategic planning board. "It communicates to directors via members who attend both boards," Axelsen said. "There is a great deal of communication between IT and the board."

Paul Rush, CIO practice lead at Talent2, said businesses are putting their balance sheet and strategic direction at risk by failing to involve IT executives in boardroom strategy discussions.