A recent Oracle Modern Finance Leader blog post makes the case that chief financial officers (CFOs) need to become IT decision makers, so the CFOs traditional role of savvy financial manager shifts with new responsibilities around business-focused technology know-how. Business leaders are realizing unconstrained technology spending isn’t sustainable, whether it’s directed at research and development or expanding hardware and software infrastructures.
About 60 percent to 70 percent of IT departments now actually report to finance, to the CFO.” – Mark Hurd
One result of more CFO oversight of IT departments is a widespread shift toward cloud computing. The cloud, as Hurd has often noted, offers better performance and security at a lower cost than traditional on-premises systems. Today’s CFOs don’t need to be IT professionals, but a CFO who understands important technology trends can help their companies improve performance and profitability.
To see why CFOs are IT leaders, read the full article on the Modern Finance Leader blog.