CIOs and CFOs can drive “transformational success” when they partner to steer technology toward meeting business needs, KPMG reported.
Here are six things to know from the professional services firm’s March 19 report on CIO-CFO collaboration, which surveyed 102 C-suite leaders from $1 billion-plus organizations across industries, including healthcare:
1. Ninety-two percent of CIOs and CFOs deem their relationships collaborative, with a majority calling them “very collaborative.”
2. Forty-nine percent of CIOs and 39% of CFOs view the definition of technology ROI as a point of contention.
3. Sixty-one percent of CIOs and 59% of CFOs say they are in charge of AI and technology investments.
4. Sixty-three percent of companies allocate more than 20% of their annual budgets to innovation, which nearly a third of CIOs say is excessive and a similar proportion of CFOs consider insufficient.
5. Fifty-seven percent of CFOs and 37% of CIOs believe collaboration significantly improves operational efficiency.
6. Fifty-one percent of CFOs and 29% of CIOs think collaboration enhances risk management.