According to the latest Gartner survey more and more companies are leaving their IT investment decisions to their CFO instead of their CIO. The survey states that CFOs have authorized 26% of all IT investments an increase of 15% when compared to last year while CIOs were responsible for only 5%. The survey also finds that 42% of IT organizations are reporting to their CFO while 33% report to their CEO. Only 32% of CFOs see the CIO as a strategic partner.
This high level of reporting to the CFO as well as their influence in technology investments demonstrates the need for companies to ensure that their CFO is educated on technology, and underscores just how critical it is that the CIO and CFO have a common understanding on how to leverage enterprise technology stated John Van Decker research VP at Gartner.
Companies have said that theyre investing where IT can give them competitive advantages and Business intelligence technologies are the top demand with 65% of the choices. But still only 30% said that IT is providing business benefits which means that 70% believes that IT isnt giving the competitive advantage theyre looking for.
Among other findings 35% stated that IT was a driver of the companys business performance 8% stated that IT was key contributor to the companys position and 4% stated that IT was making a profound change in the company.
In terms of enterprise technology organizations need to focus on better enabling business processes led by technology initiatives said Bill Sinnett director of research at FERF.
Due to the increased involvement of CFOs and senior financial executives organizations must make it a priority to better educate decision makers he added.
And educating decision makers might pass by making them realize how important is IT and what can it really do for their companies leaving CFOs bias towards IT behind and making business processes and practices more agile and efficient.
IT practices like RHUBs remote connection and web conferencing appliances help improve productivity and reduce costs, among other benefits. CFOs should become better informed about the IT market if theyre expecting to make good decisions.