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It's not just CEOs, CFOs are also the top technology decision makers
By siliconindia
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Thursday, 02 June 2011, 19:27 IST
Bangalore: How will one recognize a company? Through the CEO as they are the face of the company. Well, we all know that CEOs are the most important part of the company and the organization reports to them and they address the demand side of the IT sectors. But at the same time a Chief Financial Officer (CFO) is also equally important to a company. But many of us are not aware of the work of the CFOs. They are basically responsible for managing the financial risks of the corporation. They are also responsible for financial planning and record-keeping, as well as financial reporting to higher management. According to a report by Gartner it was proved that CFOs are also doing the decision making in the company.
Gartner has released in their report that the CFOs are the top technology decision makers in around half of businesses. In the study of Gartner, it shows that IT organizations report to the CFO than to any other executive function or role, reports Antony Savvas, PCWorld. The study was based on 344 responses to approximately 50 questions that covered senior finance managers' views of technology.
The study shows, 42 percent of IT organizations report to the CFO. In 45 percent of organizations the CFO leads the technology investment strategy, by being the sole decision maker and leads a team that makes technology or IT decisions in 38 percent. Moreover, CFO has more influence in IT investment decision than the CIO. CFO authorizes 26 percent of IT investment alone, and with CIO, 51 percent they approve the investment.
John Van Decker, Gartner analyst, said, "Understand that the CFO views the impact on business process and business enablement as the top technology issues, therefore, applications and analytics are the top investment priorities, and the enabling technologies that support these initiatives need to be viewed as equally important."
