CFO Journal from The Wall Street Journal
Data-Driven: The new CFO/CIO dynamic
In this data-driven age, CIOs and CFOs need to work more closely. CIOs need to make the business aware of the information available and CFOs have to identify the kinds of information needed.
The chief financial officer/chief information officer (CFO/CIO) relationship is complex, to say the least. Given the nature of their respective charges — finance’s to reduce risk without overspending; IT’s to increase benefits from the organization’s technology assets — they have sometimes been at odds.
In this issue of CFO Insights, we look at the new dynamics in the CFO/CIO relationship, explain why the focus on data may lead to improved decision-making throughout the organization, and outline questions CFOs should ask their CIO to get the information they need.