Content thumbnail Partnering for Performance Part 3

The CFO and CIO: a vital partnership for success The CFO-CIO relationship is becoming closer and more collaborative. But there are two threats to this critical union. Cost discipline, rather than strategic value, still defines the IT investment mindset, and lack of mutual understanding between CFOs and CIOs is an all-too-common problem. Key findings about the CIO-CFO relationship: Sixty-one percent of CFOs report increased collaboration in the last three years. Seventy-one percent have increased involvement in the IT agenda in the last three years. CFOs say they add most value by managing costs and profitability. CFOs’ insufficient understanding of IT issues is the number one barrier in their relationship with CIOs. Five CFO-CIO relationship success factors: 1 Take joint responsibility for driving innovation through digital IT 2 Shift the IT operating model emphasis from Capex to Opex 3 Manage risk exposures of new digital technologies 4 Work as peers 5 Build finance executives’ understanding of IT issues 1 Partnering for performance Part 3: the CFO and the CIO 4

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