Kenneth Martin, Leader of the Global Executive Office for Purpose-Led Transformation at EY, analyzes the role of the CIO in organizational transformation.
As a CIO, do you see yourself as an outstanding manager or a company leader? These two attributes are distinct. Effective management is a critical and much-valued discipline. However, CIOs are increasingly playing a leadership role in enterprise-wide transformation.
In today’s digital economy, a strong CIO–CFO relationship is a key driver of value. Digital technologies, from the cloud to the internet of things, offer the potential to transform enterprise performance and deliver profitable growth. But this opportunity demands significant change in how the IT function operates and how technology is funded at an enterprise level, requiring strong alignment between IT and finance leaders.
Many companies are information-rich, but intelligence-poor. They have huge amounts of data, but it is trapped in legacy platforms or there are multiple versions of the “truth” because different departments are collecting data in different ways. CIOs and CFOs play a critical role in driving an information management strategy that will turn information into intelligence.
It is not only newlyweds who need the secrets of a happy union. CIOs looking to build bridges with the CFO should look no further than analytics.
EY’s global study – Partnering for performance, Part 3: the CFO and the CIO – asked over 650 CFOs about their relationship with the CIO and their collaboration on four critical activities: cybersecurity, analytics, information management and digitizing the IT function. During the month of June, our aim is to map out how CIOs can build collaboration with their CFOs by tackling these critical priorities. This week’s blog turns the spotlight on issue two: analytics.