Why every CFO should
geek out over IT

6 Insights You
Need to Know







The shift toward digital solutions and Industry 4.0 (smart factories/connected manufacturing) is magnifying the overall importance of IT in companies.

Nowadays, much is written about the new function of CIOs, but this is just one side of the coin. After all, more and more decision-makers outside of the IT function have to wrap their heads around the increasingly complex interplay between IT and business development. This has a particularly significant impact on CFOs because IT buying usually reports to them. An astute CFO, then, is one who spots the clear link between the current and emerging technologies of today and the business opportunities and expansion of tomorrow — shaping developments as they happen.

To help ensure your organization makes smarter investments for its digital transformation, here are six insights that today’s savvy CFO can’t afford to overlook.

Insight 1

Technology Impacts (Nearly) Everything

For your organization to reach its full potential, you’ll need IT more than ever. Obvious, right?

Yet many CFOs still feel their biggest priority is to keep business and production processes running smoothly and make everything as efficient and cost-effective as possible.

As technology grows more and more innovative, and business conditions continue to change, IT systems are increasingly becoming the key driver of new business models and production processes. To integrate IT properly into an enterprise, it actually has to be a pivotal part of strategy planning and central to business development. As such, IT buying performs more of a strategic role. Given the many challenges posed by big data analysis, CFOs need to work closely alongside CIOs, especially if they want to make the right decisions when it comes to the business strategy.