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MENLO PARK, Calif., Aug. 1, 2019 -- As the integration of technology solutions continues to reshape businesses, C-suite collaboration, increasingly, is standard procedure. A new survey from Robert Half reveals that 82% of CFOs collaborate with their company's CIO more now than three years ago.
The research shows that technology investments (56% of the response) and business systems changes (52%) are the top collaboration areas for CFOs and CIOs, followed closely by staff technology training and cybersecurity (both at 45%). Finance and tech leaders are also partnering on digital transformation efforts (39%) for their company.
View the infographic for more on the survey.
"The adoption and implementation of new technologies like artificial intelligence and robotic process automation are no longer in their infancy," said Tim Hird, an executive vice president at Robert Half. "It's a business imperative for CFOs and CIOs to closely work together to consider the operational and financial issues of technology solutions."
John Reed, an executive vice president for Robert Half, added that while a closer working relationship between CFOs and CIOs is essential, organizations derive further benefits from increased interaction between finance and IT staffs in general. "Providing opportunities for the teams to collaborate builds awareness of operational challenges and needs, which often leads to more astute insights on best practices and solutions."
Following are three business advantages of a strong CFO-CIO relationship:
- Smarter IT investments — Digital transformation initiatives require a substantial allocation of resources and have an enormous impact on a company's future performance. The CIO can provide expert guidance on which technology can best achieve business goals and increase competitiveness, while the CFO offers financial and operational insights.
- Improved information security and compliance — With firms increasingly reliant on technology, the need to protect sensitive data has never been greater. The CFO and CIO must coordinate and develop measures to address the risks posed by cybercriminal activity and compliance demands.
- Actionable data analytics — A solid working relationship between C-level executives can produce the right combination of technologies and processes to extract the most accurate information for the business.
For more insights on how emerging technologies are reshaping business and the workplace, check out Robert Half's Jobs and AI Anxiety report.
About the Research
The online survey was developed by Robert Half and conducted by an independent research firm. It is based on responses from more than 1,000 CFOs at U.S. companies with 20 or more employees.
About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm and a recognized leader in professional consulting and staffing services. The company's specialized staffing divisions include Accountemps®, Robert Half® Finance & Accounting and Robert Half® Management Resources for temporary, full-time and senior-level project professionals, respectively, in the fields of accounting and finance; OfficeTeam® for highly skilled administrative support professionals; Robert Half® Technology for project and full-time technology professionals; Robert Half® Legal for project and full-time staffing of lawyers, paralegals and legal support personnel; and The Creative Group® for creative, digital, marketing, advertising and public relations professionals. For more information, visit Robert Half at roberthalf.com.
SOURCE Robert Half