The ability to work amicably together is an invaluable skill, especially in business. When it comes to working with CIOs, CFOs have a certain level of expectations that they would like met. Bonnie Gardiner, writing for CIO Australia, breaks down expectations into obtainable opportunities.
What the CIO Needs to Do
- Align IT investment with the business’s strategy.
- Be proactive about the formation of business partnerships.
- Speak the language of the customer.
- Be clear about pricing.
- Assist with data analytics.
CIOs have a chance to not only help align IT investment with business strategy, but also to help in the execution of the plan. They have the insight surrounding the technological sector and can help guide decisions as to the direction the company should take in regards to systems or new technology. In order to get one’s foot through the door in the first place, they need to get invited to the meeting, and to do this, they need to actively pursue the strengthening of relationships. CIOs should regularly sit down with their CFOs in an effort to better illustrate business strategy.
Most businesses are centered around people, and for IT, this means they need to communicate well with the customer. They need to remember to communicate all the benefits of IT, such as: why new technology will be more efficient, how to increase competitiveness, and how to improve operational effectiveness. But they need to do it in a way the customer understands; not everyone is fluent in tech-speak. This will also open doors for the customer to provide a varied insight and beneficial information. CIOs need to be transparent about the pricing too. The business will end up spending more if the CIO is not up front and honest about the costs.
The CFO and CIO work together to improve corporate decision-making. The company needs to have accurate data in order to function properly, and the CIO holds the key to obtaining the proper data. Better technology allows for better analytics, and then the best decisions can ultimately be made.
CFOs do not traditionally list IT as a critical department to business operation; however, CIOs are so crucially important. A good relationship between both parties will create a partnership that inspires business revolution. You can read the original article here: http://www.cio.com.au/article/554204/five_things_cfos_want_from_cios/