Have a Need advice Audit Committee of the technology?

To survive technological decisions to meet the mandate of the management team, such decisions. Although the current pace of rapid technological change means that decisions are technology companies large and frequent consequences of good and bad decisions will remain the company for a long time. Generally, decisions are not decided unilaterally technology in Information Technology (IT) group, the managers have taken to input or supervision. Exercise for the board of a company, its obligation to decide on strategic decisions to be met, the Commission needs a mechanism to review and guide decisions.
A recent example in which such monitoring would have resource planning (ERP) enthusiasm of the mid-1990s. At that time, many companies invest millions of dollars (and sometimes hundreds of millions) in ERP systems from SAP and Oracle. Often these purchases by financial executives, personnel, operations or strongly defend their purchase as a way to be in order. With its competitors, it also had to install these systems deal motivated CIOs and managers often do not have enough value to the question of how to make a successful transition to these very complex systems. Direction of the company and organizational development change management has been neglected by these new systems often leads to a crisis. Billions of dollars were on systems that had not been purchased in whole or purchased, were before the client companies were ready been spent.
Of course, any medium or large organization working successfully today without computers and the software that makes them useful. The technology is also one of the largest and the capital base for the operating expenses of the company outside of work and plant. For both these reasons, the Council monitoring technology at the appropriate level to a certain level.
Board can continue to leave these decisions only basic current management team? Important technological options are inherently risky (studies have shown promise, less than half), while bad decisions take years to be repaired or replaced. More than half of the investment in the technology is not returning the expected benefits in terms of profitability, the following tips in technological decisions are involved. It is surprising that only ten percent of the listed companies have IT audit committees as part of their boards. However, the companies have higher a clear competitive advantage in the form of an annual compound return of 6.5% than its competitors.