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CFOs Taking Lead Role in IT Decisions

 
 
By Dennis McCafferty  |  Posted 10-17-2014
 
 
 
 
 
 
 
 
 
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    Buck Stops Here
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    Buck Stops Here

    40% of CFOs at high-performing organizations drive decisions and actions impacting tech investment, while only 28% of those at low-performing ones do.
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    Profit-Minded
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    Profit-Minded

    45% of CFOs at high performers play the top role in monitoring the ROI of tech from approval to post implementation, compared to 37% of CFOs with low-performers.
  • Previous
    Out with the Old
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    Out with the Old

    23% of CFOs at high performers say they are in charge of identifying which technologies should be retired as new ones are deployed, as opposed to 18% of those with low performers.
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    Upon Further Review
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    Upon Further Review

    45% of CFOs at high performers say they drive decisions and actions when it comes to redefining the cost model of business as new technologies are implemented, compared to 38% of those with low performers.
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    Big Project
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    Big Project

    Only 4% of CFOs say they have fully deployed big data analytics throughout all businesses, but 20% expect to do so within two years.
  • Previous
    Bigger Input
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    Bigger Input

    60% say their influence in providing insightful analytics has increased, and about the same say their influence in partnering effectively with enterprise functions has grown.
  • Previous
    Integrated Effort
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    Integrated Effort

    51% say they've adopted integrated business services, and this figure is expected to increase to 56% within two years.
  • Previous
    Service Support
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    Service Support

    Nearly two in five anticipate increasing their investments in the cloud and SaaS by at least 26% in two years, and 11% say that increase will exceed 50%.
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    Moving Forward
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    Moving Forward

    Nearly one-quarter say their investments in mobility will increase by at least 26% within two years, and one in 10 say the increase will exceed 50%.
 

A significant share of CFOs say they are really in charge of making key, strategic tech decisions, according to a new survey from Accenture. The accompanying report, titled "The CFO as Architect of Business Value: Delivering Growth and Managing Complexity," covers a broad range of finance-related topics. But CIOs will want to skip right to the section about CFOs' perspective on the digital agenda. That's where they'll see that many CFOs consider themselves as having the ultimate say in tech investments, ROI determination and the retirement of older IT systems. The Accenture report offers a comparison and contrast with regard to CFOs at high-performing companies and low-performing ones. High-performing organizations cite high levels of satisfaction with the role of their finance function throughout most enterprise needs. In general, CFOs are more actively involved with key IT decisions at the high performers, findings show. "CFOs have expanded their role in evaluating, prioritizing and executing technology investments," says Scott Brennan, managing director of the finance and enterprise performance group within Accenture Strategy. "Many CFOs understand that technology—especially big data and analytics—presents an opportunity to inform actionable insights, improve efficiency and drive the growth and profitability of the organization." Nearly 620 senior finance executives, with one-half being CFOs, participated in the research. For more about the survey, click here.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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