We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedTechnology

CIO role cease to exist in five years, say CFOs

CFOs concerned about recent major IT project failures

Article comments

Nearly one in five CFOs believe the CIO role will cease to exist in five years, according to a report on Friday.

Seventeen percent of the 200 CFOs who participated in the survey by electronics firm Getronics said they believed the role of CIO will cease to exist by 2017.

At a round table hosted by Getronics, attended by CFOs and CIOs, there was a consensus that big IT failures in recent years have meant that CFOs are more eager to work with CIOs to get best value.

One in six of the respondents to the survey were undecided as to the fate of the CIO, while there was the overall perception that increased attention on IT from finance will result on the role at board level.

The report - which polled CFOs of organisations that had more than 500 employees - found that the economic slowdown had lead to the greater involvement of finance teams in all areas of organisations, including IT, and that the key measure of the business effectiveness was return on investment.

The results highlighted a general trend towards the merger of IT and financial operations, with senior financial managers assuming greater responsibility for IT decisions – more than four in ten of whom believed the role of CIO would be eventually subsumed under finance. Yet while more than half said a lack of integration between IT and finance limited the ability to make savings, a third of respondents actually noted a decrease in the services coming together.


Recommended Articles


CIO role cease to exist in five years, say CFOs

Security technology checklist for CFOs

Security technology checklist for CFOs

Cyber threats are increasing in scale, scope and frequencymore ..

Google misses forecasts as cost per click revenue dips

Challenges in the mobile market continue to be a factormore ..

Well over a third of CFOs can't see the point of digital technology

Some 40 percent of finance chiefs adopt the ostrich positionmore ..

Diageo turns to tech start-ups to give it the edge

Wants to get ahead of disruptive innovation by putting it in the centre of its businessmore ..

Who needs big data anyhow?

OPINION: where next for the CFO’s big data budget?more ..

Why your online identity can never really be erased

Privacy advocates agree individuals need to take responsibility for their own privacymore ..

Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..


* *