Present day CFOs, are responsible for innovation and IT along with the finances of the company. Therefore, a good relation is important between the CFO and CIO. This presentation discusses 3 reasons why CFOs and CIOs should share more quality time together.

2.  Present-day CFOs, are not only responsible for
financial planning and risk management, but also for
a plethora of other functions like innovation and
Information Technology.
 It is quite likely that the Chief Information Officer
(CIO) of an organization reports to the CFO and that
the CFO has the final say in matters related to
investment in technology.

3.  It is important for CFOs to possess working
knowledge and closely collaborate with CIOs in
order to excel at your own job.
In this presentation, we will discuss 3 reasons why IT
and the CIO need your attention.

4. 1. Sharing Knowledge
 Sharing knowledge is crucial across the board.
 Finance teams receive and give important
information that can help the organization to thrive.
 Technology can help the systematic sharing of this
knowledge. For instance, company wikis are
surfacing as smart, cost-effective and flexible
solutions to exchange information and documents as
well as manage content.

5. 2. Information for Decision-
Making
CFOs are responsible for providing relevant and timely information
to the CEO. A dashboard can help you provide this information by:
 Focusing on goals
 Providing a summary of crucial performance metrics
 Highlighting and communicating important information in brief
 Drawing attention to both financial and non-financial aspects of
performance
 Offering built-in or customizable reporting and analysis
solutions

6. 3. Reaping the Benefits of
Cloud Technology
 Cloud technology has the potential to boost
speed and flexibility and lower costs of
operations.
 It is essential to learn about this valuable
resource and understand its business value
from the CIO.

7. Conclusion
 it is of prime importance for CFOs to view IT as
supportive to their financial planning processes.
 It can help the organization increase efficiency, reduce
overhead costs and gain a competitive edge.
 It is your job to gain awareness about both capital and
operating expenses related to installing new technology.
 This could include vendor, migration, training and
regulatory costs.
 But it is also your job to leverage the benefits of IT and
help your organization realize its full potential.

8.  The best approach to doing this is by developing a
shared vision and creating a road-map to technology
adoption in collaboration with the CIO.
 Together, you could work out a way to increase
business efficiency and income through technology
with minimum disruption and a flexible mind-set
about ROI.

9. Maureen O'Connell
Maureen O’Connell is Executive VP, CFO and CAO
for Scholastic Corporation (NASDAQ: SCHL).
Finance and Accounting are her forte.
She also excels at Administrative Functions such as
Strategic Planning & Business Development, Global
Operations & IT and Human Resources.