Partnering for performance Part 3 CFO-CIO: a growing collaboration

The CFO-CIO relationship is becoming closer and more collaborative

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 still an all too common problem according to our global survey of 652 CFO and financial leaders.

Key findings about the CFO-CIO relationship:

  • 61% of CFOs report increased collaboration in the last three years.
  • 71% of CFOs 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.

In today’s digital economy, the financial well-being of the enterprise is dependent on the health of the CFO-CIO relationship – and this will be amplified as the importance of digital grows. Technology innovations, from the cloud to mobility, offer the potential to transform organizations’ operations, customer experience and business model.

Organizations are driving performance improvement and creating new competitive advantage through a range of digital initiatives, from harnessing the power of big data and analytics to transforming decision-making, to meeting the demands of the ultra-connected customer.

To succeed, organizations must make bold technology investment decisions that are driven by corporate strategy, while managing a range of severe risks, such as cyber risk and data privacy concerns.

This mission-critical convergence of technology, investment strategy and risk has elevated the CFO-CIO relationship to new levels of importance. Any disconnect between the CFO and CIO will have profound consequences for the organization, and jeopardize advancement.

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