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CFO Insights — Three ways to strengthen the CFO-CIO partnership

Published on: May 05, 2016

With technology playing a larger role in driving company value and competitive advantage, it is more important than ever that CFOs collaborate closely and effectively with CIOs. Yet, in a poll taken during a recent Deloitte webcast, “Forging a New CFO-CIO Partnership—The rise of the Chief Integration Officer,” fewer than one-third of respondents said the CIO and CFO at their company share a strong partnership characterized by mutual understanding.

Despite the challenges, CFOs and CIOs can improve their ability to align IT investment with strategic growth plans and business performance if they strengthen their partnership. Moreover, many CFOs and CIOs understand the importance of getting this relationship right: for CFOs IT is often one of the largest budget items, and for CIOs, 22% report to their CFOs.² 

That partnership is particularly important now. In the Q1 2016 CFO Signals™ survey, many CFOs cited efforts to improve strategies for managing IT and for providing better data and insight to their top agenda items for 2016.³ They also indicated a broad range of tactical efforts to implement, upgrade, and consolidate financial systems. And in this issue of CFO Insights, we’ll discuss three actions critical to realizing a stronger CFO-CIO partnership: achieve mutual understanding, establish effective communications, and identify opportunities to collaborate on delivering value to the business.

This publication was released by our US firm.

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