Several years ago, Todd S. Coombes proposed a project at a company where he was then CIO. "It was a legacy modernization of some of our older systems and data conversion to the newer platform," he recalls. "It was very important to IT."
But his proposal had to compete against hundreds of other uses of the company's capital, measured against time to payback. "A lot of companies like to do projects if you can get an 18- or 24-month payback," says Coombes, who recently became executive vice president and CIO at ITT Educational Services, a post-secondary educational company based in Carmel, Ind., with 140 campuses around the country. "A lot of these legacy data conversions will have about a seven-year payback, and that's not so great."
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