Intelligent CIO Europe Issue 24 | Page 46

CIO opinion CIO OPINION “ THERE’S ONE KEY DEPENDENCE THAT BOTH PARTIES SHARE; THE RESPONSIBILITY FOR RISK AND COMPLIANCE IN THE ORGANISATION. ////////////////// Chris Pope, VP of Innovation at ServiceNow How CIOs can build stronger, more valuable relationships with CFOs The well-known saying, ‘there’s no I in team’, springs to mind when hearing about how the strength of the relationship between a CIO and CFO can determine the success of a business and its Digital Transformation journey. Chris Pope, VP of Innovation at ServiceNow, discusses the importance of CIOs building and maintaining effective relationships with their CFOs. 46 INTELLIGENTCIO 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. 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. 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. So, here are some tips for CIOs on how to communicate better and form efficient relationships with their CFOs: While it’s understandable for there to be tension between the CIO and CFO, pulling the rope in opposite directions accomplishes very little. 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 www.intelligentcio.com