CFO-CIO collaboration is vital

IN TODAY'S digital economy, the financial well-being of any organisation is dependent on the level of collaboration and teamwork of its C-suite executives. Particularly, the health of the CFO-CIO relationship is important - and this is expected to amplify as the influence of digital grows.

Technology innovations, from the cloud to mobility, offer the potential to transform organisations' operations, customer experience and business model. Organisations are driving performance improvement and creating new competitive advantage through a range of digital initiatives, from harnessing the power of big data and analytics to transforming decision-making, to meeting the demands of the ultra-connected customer.

The more complex reporting requirements that are now being placed on CFOs also means that there is a greater demand by the finance function of IT for quality data. The better the data that IT can provide to finance, the easier this reporting becomes. And for this relationship to work well, it needs to work in both directions.