Content thumbnail Partnering for Performance Part 3

The CFO and CIO: a vital partnership for success Two main barriers to an effective CFO-CIO collaboration Barriers to a closer collaboration Although the relationship has grown closer, there are two threats to this Two key barriers to a more productive relationship. critical union. First, CFOs continue to struggle with balancing their responsibility to maintain 1 CFOs say 2 cost discipline with more strategic ambitions, such as setting the agenda for change (see Chart 3). Chart 3: In which of the following areas do you consider your contribution to IT to be most valuable? (Please select up to three) Their main contribution Their lack of Managing costs/profitability 35% to IT is ensuring cost understanding of discipline, rather than IT issues is the Setting budgets/costs 33% more strategic activities. principal barrier. Building the business case for 28% new initiatives Second, effective communication and understanding between these two Financing 26% C-suite peers is an all-too-common problem. CFOs point to insufficient understanding of IT issues among finance executives as the main relationship Measuring performance 26% barrier (see Chart 4). Ensuring value realization 24% Chart 4: What do you consider to be the main barriers preventing a closer relationship with the CIO? (Please select up to three) Determining the level of ambition 22% Insufficient understanding of IT issues 44% and risk appetite for new initiatives among finance executives The absence of a clear set of key Resourcing and human capital 20% performance indicators (KPIs) that link 42% financial performance and the IT agenda Change management 19% Processes and tools are incompatible 36% across the two functions Setting the agenda for change 19% Lack of finance resources to dedicate 34% to the IT agenda Our organizational structure prevents 31% this kind of collaboration I do not perceive any barriers 11% Partnering for performance Part 3: the CFO and the CIO 6

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