Why CFOs Are Collaborating More With CIOs
By Dennis McCafferty
61% of surveyed CFOs said they’ve increased collaboration with their CIO over the last three years, and 23% said they’ve done so to “a much greater extent.”
71% said they’ve gotten more involved with IT over the last three years, and 35% said this involvement has significantly increased.
55% said they are either “significantly” or “completely” aligned with IT’s broader agenda on data.
To obtain more accurate, available and accessible data: 32%, To improve business intelligence/analytics capabilities: 31%, To consolidate IT systems and infrastructure: 28%, To better understand the business value of IT: 25%, To shift to digital within the business: 24%
Managing costs/profitability: 35%, Setting budgets/costs: 33%, Building business case for new initiatives: 28%
Insufficient understanding of IT issues among finance execs: 44%, Absence of a clear set of key performance indicators (KPIs) to link financial performance to the IT agenda: 42%, Incompatible processes and tools: 36%
66% of CFOs said cyber-security is a high or “very high” priority.
53% said they make either a significant or “very significant” contribution to determining where analytics efforts can add the most value.
50% of those who have highly prioritized the transitioning of the IT function to a digital world report earnings growth of 10% or greater over the last three years.