This improved bond goes well beyond the “feel-good” benefit of getting along with your colleagues and can lead to tangible, positive results for the company: 

  • 43% of surveyed CFOs associate improved business outcomes to a good relationship with their CIO. 

Focusing on Technology ROI 

Getting a good ROI from business initiatives is ingrained in the genetic makeup of any good CFO, but it seems especially prevalent when dealing with IT, as only 19% of CFOs in the EMEA region are happy with the impact that technology investments make on their business.

Over the last three years, surveyed CFOs gained the least ROI from ERP upgrades or migrations and from mobility technologies (23% each).

Meanwhile, the technology investment that provided the most value for CFOs is a concern that’s only likely to grow over time: Security technologies (27%).

Taking a More Active Role 

The dissatisfaction with past technology investments, combined with the need to continue innovating and address security are likely strong motivators driving CFOs to take a more active role in IT decisions. And according to the survey, they’re taking a lead role in many areas that previously have been the domain of the CIO: 

  • 56% of CFOs say they set IT project timing. In the UK it’s 62%, in Israel 66% and in France only 48%. 
  • 56% say they’re responsible for setting expected IT business results. The number is lowest in France at 47% and highest in Israel at 66%. 
  • 58% take charge of setting technology investment budget levels. The UK had the highest percentage at 63%. 

Finally, as CFOs get more involved in technology investments, they should keep in mind that they’re stepping into the CIO “sandbox” and be respectful of the many complex challenges IT leaders face. To that end, CFOs can take steps to continue improving the CFO/CIO relationship: 

  • Share aligned goals in IT spending and investments. It can result in lower cost solutions and technology investments that could lead to optimal returns for the business. 
  • Ensure clearly defined roles and responsibilities. This can help to avoid conflicts over IT control and decision-making authority. 
  • Learn each other’s “language.” A combined 87% of surveyed CIOs say their CFO counterpart should be more technology savvy to improve communication with them.

To read the full report, please click here.