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Asfinancefunctions have become increasingly automated, the CIO and CFO have been bought into closercollaborationthan ever before.
However, this partnership often faces friction.
Chief Information Officer at Blackline.
Striking the balance between cost-cutting and innovation
Balancing cost-cutting with innovation calls for a mindset shift.
Its not about one approach trumping the other; its about finding harmony between the two.
Practical steps are key to bridging this divide.
Businessleaders need to reframe technology as an enabler of financial discipline, not as an expense.
This requires a shift away from siloed decision-making towards a collaborative approach.
Building trust takes time but pays dividends.
CIOs can demonstrate credibility by presenting clear, data-backed cases for technology investments while delivering on promised outcomes.
CFOs, in turn, should acknowledge and celebrate successful technology implementations, reinforcing their value.
Shared accountability is also critical.
Both leaders must view technology investments as a joint responsibility rather than an IT-only initiative.
This means incentives and KPIs need to be as aligned as closely as possible.
By co-owning metrics for success, both business functions can work towards the same goals.
Take digital transformation in F&A as an example.
Collaboration isnt just a nice to have anymore its a necessity for thriving in business.
The question isnt whether CIOs and CFOs should work together; its how they can work better together.
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The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc.
