Intelligent CIO Middle East Issue 50 | Page 37

////////////////////////// W hen it comes to maximising the business benefits of IT, the most successful projects always share key attributes such as careful planning against clear objectives and an appreciation for the importance of people and process, not just technology. However, before this can happen, the CIO needs to overcome the keen eye of the CFO. The relationship between the two needs to be closely aligned and this means going beyond just agreeing on budgets. They have to work together to ensure the organisation meets the needs of all parties involved – shareholders, partners, employees and customers alike. While it’s understandable for there to be tension between the CIO and CFO, pulling the rope in opposite directions accomplishes very little. According to a report from Financial Times Focus, the CIO is considered the C-suite leader most able to drive change – but to do so, they must be able to communicate with the rest of the business and stakeholders effectively, including the CFO. So, here are some tips for CIOs on how to communicate better and form efficient relationships with their CFOs: Ensure you’re speaking the same language While CIOs are most often the ones found leading Digital Transformation projects, it’s still a vast process made from many moving parts and requires input from leaders across the company. The CFO’s main contribution to IT is still enforcing cost discipline as opposed to more strategic activities, according to 35% of CFOs in a recent report from EY. For both CIOs and CFOs, it can be a struggle to have clear communication, which can get in the way of forming a solid business relationship with one another. The language of technology is different from the language of business, and the financial dialect varies somewhat too. As such, greater collaboration will benefit both parties as well as the wider business. CIOs can benefit from a closer working relationship as the CFO is in a strong position when it comes to helping prepare for major www.intelligentcio.com “ Chris Pope, VP of Innovation at ServiceNow WHILE IT’S UNDERSTANDABLE FOR THERE TO BE TENSION BETWEEN THE CIO AND CFO, PULLING THE ROPE IN OPPOSITE DIRECTIONS ACCOMPLISHES VERY LITTLE. IT investments. Additionally, support from the CFO is a powerful voice and can lend a hand when it comes to vouching for IT project investments. Build processes to support and push for influence The Financial Times report also revealed that over two thirds (71%) of CFOs feel CIOs are lacking in influencing skills and that these need greater development to deliver the change their business seeks. CIOs also need to develop those same communication skills within their teams, to ensure the right people INTELLIGENTCIO 37