5 Tips For a Better CIO-CFO Partnership
Tuesday, 03 July 2012, 23:37 IST
Bangalore: Two of the most important chief executive leads in an IT industry are the Chief Information Officer (CIO) and the Chief Financial Officer (CFO). So it’s very important that they should build relatively a good partnership between them as the IT industry relies on their broad shoulders. We can see that some of the CFOs outsmarting the CIOs in technology which proves the fact that the CIOs and CFOs should sync up for the benefit of the industry. So with that in mind here are 5 steps to better a CIO-CFO partnership.
#1. Stop playing favorites:
CIOs have to prop up platforms like manufacturing, engineering, human resources, finance, and every other function in the business. But according to many CIOs, CFOs like to highlight the finance department more than anything else. That is why most of the CIOs like to share their ideas with a CEO rather than a CIO.
According to a CIO of a consumer packaged-goods company “The checkbook is wide open if we’re talking about a finance project, but if it’s for any other function, the details are put under the microscope. When we were looking to put in a new inventory management system, I had to present the budget to three separate groups, but when we needed funding for a new accounting tool, I didn’t even have to go to the meeting.”