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CIO role cease to exist in five years, say CFOs

CFOs concerned about recent major IT project failures

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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.


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