5 Reasons The CIO And CFO Should Be Best Friends - InformationWeek

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IT Leadership
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10/7/2016
07:06 AM

5 Reasons The CIO And CFO Should Be Best Friends

An effective IT leader needs friends on the executive committee for support on key projects and initiatives. Here is why the CFO should be the CIO's executive BFF.
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You Need Investment

Yes, the world is moving to the cloud. Yes, a cloud-based infrastructure means that you need fewer server racks sitting in a data center. But even if you make the strategic decision that the future of your data infrastructure is in the cloud, you're going to have to make investments in hardware, in services, and in people, if you want to be successful.

The investments don't stop when the balance of spending shifts from hardware to software and services. The investments change, and understanding those changes can require the assistance and cooperation of the CFO. Making the  most of the changes -- turning them from a source of uncertainty to a foundation of progress -- requires the partnership of a CFO who's willing to work with you to cast the numbers in the proper, most flattering light.

As a CIO, of course you have as deep an understanding of finance as any executive. But what you don't have is as deep an understanding of your organization's finances as your CFO does. Further, you probably don't have time to pull together all the financial details that your CFO will have at his or her fingertips. Use the friendship to get better information with less effort and build your proposals on fact. You'd be amazed at just how effective the right facts can be when making the case for investing in a project.

(Image: penguiiin/iStockphoto)

You Need Investment

Yes, the world is moving to the cloud. Yes, a cloud-based infrastructure means that you need fewer server racks sitting in a data center. But even if you make the strategic decision that the future of your data infrastructure is in the cloud, you're going to have to make investments in hardware, in services, and in people, if you want to be successful.

The investments don't stop when the balance of spending shifts from hardware to software and services. The investments change, and understanding those changes can require the assistance and cooperation of the CFO. Making the most of the changes -- turning them from a source of uncertainty to a foundation of progress -- requires the partnership of a CFO who's willing to work with you to cast the numbers in the proper, most flattering light.

As a CIO, of course you have as deep an understanding of finance as any executive. But what you don't have is as deep an understanding of your organization's finances as your CFO does. Further, you probably don't have time to pull together all the financial details that your CFO will have at his or her fingertips. Use the friendship to get better information with less effort and build your proposals on fact. You'd be amazed at just how effective the right facts can be when making the case for investing in a project.

(Image: penguiiin/iStockphoto)

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