Presenting the keynote of the Gartner Symposium in Sydney, Peter Sondergaard said the next 20 years will see the role of the CIO continue to evolve.

"CEOs are looking to keep their balance sheets strong in uncertain times," he said. "This means one thing for CIOs -- this is not the time to justify projects on soft measures of internal value. You need to show how you can generate cash flow.

"The last few years have actually seen CIOs deliver quick and easy wins to drive down cost. However now is the time...to look at major functions across the organisation."

Sondergaard said the next year will continue to pose financial challenges to IT managers, with pressure from CEOs to reduce costs.