The Financially Sound CIO

CSUB530 Financially Sound CIO

Another hat for the CIO to wear or is it already part of the job description?

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A survey conducted by SearchCIO in 2012 asked senior IT members which skills they were asked to develop to better fulfil the role of a CIO in the year ahead.  Coming in at number five with 19.1% of the vote was corporate finance.

The CIOs and IT executives agreed a good understanding of how the business makes and disperses funds is essential to the CIO role.  This, of course, goes beyond knowing what the IT department budget is and how the funds should be allocated and all about knowing the organisation’s overall position.  How the IT budget fits into the entire scheme of things and importantly which are the core requirements of an organisation that IT needs to service.

The financial understanding includes looking at new service delivery models and changing IT trends and how they can benefit the organisation, can they reduce costs; can they increase productivity?  Where does the organisation best invest its time, resources and money?

Being financially savvy also means being able to make brave decisions regarding technology.  Decisions such as moving infrastructure to the cloud.  This doesn’t mean giving up technology within an organisation. 

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It does mean freeing up technology ... continue reading:"The Financially Sound CIO"The Financially Sound CIO"

 

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