CFOs and CIOs understand the importance of getting their relationship right. For CFOs, IT is often one of the largest budget items. For CIOs, 22% of whom report to their CFO, according to Deloitte, earning budget approval is vital to fueling transformation. Yet today the two roles often run on different tracks: one on a straight and narrow path moving at a set pace, with established milestones and the finish line in sight; the other sprinting through twists and turns with the destination still to be discovered.
Many factors complicate the CIO-CFO relationship, such as the migration from projects to product-centric delivery, which has challenged traditional funding models thanks to the need to be funded on a continuous basis. CIOs are also taking center stage as key strategists and orchestrators of unprecedented transformational change, solidifying a direct line to the CEO and in many cases sharing attention with the CFO.
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