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Finding CIO/CFO Common Ground
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nomii
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nomii,
User Rank: Ninja
12/8/2014 | 12:41:11 AM
Re: CFO language
That would be a good organizational hierarchy like having a finance person in IT who would be reporting to CFO. He can support CIO in making budgets and can guide him in cost related matters while planning a project. Secondly he can also help CFO in keeping check on IT expenses.
nasimson
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nasimson,
User Rank: Ninja
11/28/2014 | 10:03:45 AM
Re: CFO language
In our organization, the seventh largest telecom of the world, we have a small team called "Technology Finance" that deals with TCO calculations, capex & opex calculations, investment cases, budgeting, etc.

This is a business partner team reporting to CFO, but sitting, working with relevant tech teams.
nomii
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nomii,
User Rank: Ninja
11/27/2014 | 2:24:46 AM
Re: CFO language
@Laurianne: I think a CIO having a little information on finance would only be helpful to present their case logically in front of CFO and other top management. In my experience CIO used to have a manager finance reporting to him directly who handles these financial matters but again to have a check on it, CIO have to have some basic understanding on the subject.
nomii
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nomii,
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11/27/2014 | 2:15:20 AM
Re: Finding CIO/CFO Common Ground
SunitaTO: I have seen such organization where CIOs are not the member of executive committee. In such structure the main problem is that the organizational strategy and goals are set by the committee who doesn't have a single member who can understand the nitty-gritty of IT to a certain level. After a nonqualified decision is made, CIO is than asked to meet the expectations set by the committee.
anon2454492571
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anon2454492571,
User Rank: Apprentice
11/25/2014 | 10:18:02 AM
Board members play major role in securing organizations information and privacy.
Interesting article, organizations will only develop a risk strategy of the future if they understand how to anticipate cybercrime. I work with McGladrey and there's a whitepaper on our website that was about this very topic that may interest readers of this article. bit.ly/mcgldryinfosec2
SunitaT0
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SunitaT0,
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11/21/2014 | 2:22:51 PM
Re: Finding CIO/CFO Common Ground
CIOs often find CFOs have unrealistic expectations of them and lack awareness of the realities associated with managing and implementing technology at large organizations.

The difficulty of the mission is compounded for CIOs who are not members of their organizations' executive committees, where decisions that affect IT—and, equally important, decisions that IT should influence—are made.

The many challenges shaping CIO-CFO relationships generally fall into four categories: governance, ROI, portfolio management, and communication.
SunitaT0
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SunitaT0,
User Rank: Ninja
11/21/2014 | 2:20:04 PM
Re: CFO language
@SachinEE: I think if there could be better communication channels within a company (and I'm not talking about phones or emails, but actual communication) then such problems wouldn't exist. Some problems for the company turn into a personal enmity between CFO and CIO because such communication channels do not exist. I also think there should be a mediating body that would oversee all board discussions.
SachinEE
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SachinEE,
User Rank: Ninja
11/20/2014 | 10:21:00 PM
Re: CFO language
"As InformationWeek columnist and Asheville, NC CIO Jonathan Feldman often points out, any aspiring IT leader must learn not only the language but also the operations of finance -- or have a short, brutal reign, as he puts it. The CIO tension many people in the tech community are most focused on right now is not with the CFO but the CMO -- or the ever-elusive CDO.But that doesn't absolve IT leaders from working on the CFO relationship."

@laurianne: Every branch is necessary in a business tree. You cannot have marketing maneuvers that lead to investor satisfaction without the CMO. Similarly the CDO is important too.
SachinEE
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SachinEE,
User Rank: Ninja
11/20/2014 | 10:14:59 PM
Re: Finding CIO/CFO Common Ground
"@xerox: Thats an excellent pitch I've read in years. I'll surely put in practice. But wouldnt  that be a bit exaggerating, a little strong to say that "you can't do business without it"."

@xerox: Probably not. It is the duty of the CIO to acknowledge the CFO about the kind of technical aquisitions the company must be having to go the right way (to venture out into the right direction) and to tick all the boxes and at the same time accomplish two things: generate enough cash flow to ensure that assets are created, not destroyed, and the second thing which must be accomplished is getting a fan base with the current acquisition, which may be from the team of the company/technology acquired or from the general masses.
nasimson
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nasimson,
User Rank: Ninja
11/20/2014 | 8:16:31 PM
Re: Finding CIO/CFO Common Ground
> So, if the CFO comes calling for you to explain the monetary benefits of a new technology,
> don't just prove that it will meet his needs - prove why you can't do business without it.

@xerox: Thats an excellent pitch I've read in years. I'll surely put in practice. But wouldnt  that be a bit exaggerating, a little strong to say that "you can't do business without it".

Wouldnt that backfire that "every IT project is related to company survival"
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