Organizations that cultivate robust partnerships between their technology leaders and financial leaders are positioning themselves for significant success in their digital transformation journey. Gartner highlights that when chief information officers (CIOs) and chief financial officers (CFOs) collaborate effectively to assess and highlight the value of digital investments, organizations "are more than twice as likely to meet or exceed the expected outcomes from these investments." This partnership extends beyond the co-delivery of digital transformation projects or finance applications; it focuses on collaboratively creating a framework for measuring and communicating both the quantifiable and qualitative benefits of technology investments. Through collaboration in defining key performance indicators, evaluating risks and aligning digital initiatives with broader business strategy, CIOs and CFOs can ensure that technology investments deliver significant business value. However, achieving this level of CIO-CFO partnership presents distinct challenges, necessitating a shift in traditional roles and mindsets to fully realize the benefits of digital transformation. CIOs must collaborate closely with their chief experience officer counterparts, to ensure strategic alignment and drive user adoption of new technologies . However, this is just one important partnership—CIOs must also work strategically alongside the CFO to maximize the ROI from technology spending. Gartner reports that fewer […]
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