CIO OPINION
Beyond technology , a strong partnership between the CIO and CFO is seen as critical given the need for policy and processrelated transformation . potential . It ’ s been reported that the overwhelming majority of CIOs agree ( 94 %) that a strong partnership between the CIO and CFO is critical to maximise ongoing business impact . Investment decisions made on this foundation deliver substantial returns for the business , enabling them to shift costs and save in a way that best matches their goals for the company .
A data-driven transformation for future success
IT costs which in turn provides a plethora of data and insight into business operations . These tools enable fact-based scenario planning and , in turn , help ensure that innovation and digital strategies take centre stage in optimising services and refining processes – while adding value .
It ’ s important to recognise that beyond technology , a strong partnership between the CIO and CFO is seen as critical given the need for policy and processrelated transformation . Transparency enables the CIO and CFO to gain buy-in from the board and the rest of the leadership team when sharing their vision and proposing business changes . This also gives them a clear line of authority and the agility needed to drive a direct steering model , supported by accurate understanding of cost , value and optimisation
Financial management has always been integral to IT leadership , with responsibility for selected parts of budgeting and tracking usually also delegated to those running programmes , projects and functional units within the IT organisation . The trouble is that accounting for spend is all too often viewed as a chore or a ‘ necessary evil ’. More often than not , we hear IT professionals say they feel something is or isn ’ t right or that they know that an investment or course of action would make a big positive difference , but they may find it impossible to make the case for change . The emergence of smart , specialist ITFM tools and platforms , however , represents an opportunity to adopt a different mindset . By adopting finance management solutions in this holistic and data-driven way , innovation can indeed be the answer to enterprise demands – and the CFO ’ s needs – in these challenging times . p
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