Survey Results: CFO and CIO Partnership Driving IT Investments Success

Rimini Street’s recent release of the findings from the Censuswide survey, “C-suite Imperatives: Evolving IT and Enterprise Investments,” sheds light on the evolving relationship between CFOs and CIOs in today’s business landscape. The survey, which encompassed nearly 3,000 CFOs and CIOs worldwide, revealed some key insights into the decision-making process behind technology investments.

One of the key findings is the strengthening partnership between CFOs and CIOs, with 86% of respondents stating that their relationship has improved. CFOs are increasingly taking the lead in setting technology budget levels and making underlying technology decisions, highlighting the growing influence of CFOs in IT investments.

Moreover, CIOs are focusing on addressing rising IT costs through investments in emerging technologies and outsourcing application support. AI is a key area of focus for CIOs, with a significant percentage agreeing that historical data is essential for maximizing the value of AI projects for ERP systems.

However, not all technology initiatives are delivering value for the business, with ERP upgrades or migrations ranking lowest in terms of perceived value by CFOs. This indicates the need for CIOs to carefully evaluate the impact of their technology strategy on the overall business outcomes.

Overall, the collaboration and shared accountability between CFOs and CIOs can lead to greater profitability for the business. By working closely together and aligning their goals, these key business leaders can drive successful technology investments that support the company’s financial and growth objectives.