IT Management Slideshow: CFO and CIO: A Love-Hate Relationship

By Don Reisinger  |  Posted 04-14-2011

CFO and CIO: A Love-Hate Relationship

52 percent 52 percent of U.S. CFO surveyed blame their firm's IT function for being "out of date and inflexible" when they experience less-than-ideal finance functions.

CFO and CIO: A Love-Hate Relationship

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73%In the U.S., 73 percent of CFO surveyed say that issues with financial-related technology and systems are the biggest reason they can't achieve their objectives.

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Inadequate IT Systems "Inadequate IT systems" aren't furnishing finance executives with "predictive metrics that are aligned with the corporate strategy," says Steve Lis, KPMG's national leader for U.S. Performance And Technology Services.

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65 percent Nearly two thirds of U.S. CFOs surveyed consider IT integral to their operations today and going forward.

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M&A Mess According to KPMG, organizations that have engaged in "mergers and acquisitions, globalization, and ad-hoc implementations" are facing "fragmented and incompatible technology infrastructure across business units." And that, the firm says, must change.

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26 percent 26 percent of CFO respondents say that they either disagree or disagree strongly that their firm's use of IT is currently effective as it relates to the "finance function."

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39 percent 39 percent of respondents agree or strongly agree that their company uses IT effectively when it's combined with the "finance function" of their operation.

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45 percent Nearly half of respondents are neutral; they say that they do not consider the finance function's collaboration with IT to be either a strength or weakness.

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39 percent 39 percent of respondents say that the finance function's collaboration with IT is a strength, compared to 14 percent who consider it a weakness.

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The CIO's Role KPMG says that there is an opportunity for the C-level executives to work closely and bring a "unified approach to technology." That, the firm says, should benefit all.

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