| | March 20179CIOReviewbecoming crucial for CFOs to better understand areas including the enterprise "engine room" that powers the internal ecosystem, what customers value from technology, and local and global market trends, not to mention emerging disruptors in areas like FinTech.With understand-ing comes insight, and with insight CFOs can add more value in the boardroom and help drive the technology-related changes needed for firms to stay ahead of their competition. Partnering for Success· There is an increasing shift to leverage the technology capa-bilities and platforms of partners--as opposed to building every-thing in-house. As companies redefine and segment their exist-ing estates, they are looking more and more to partner firms to provide better or more economical solutions and services.These "as a service" offerings can accomplish several goals:· Reduce the amount of capital needed to keep the estate and infrastructure fresh· Introduce agility, allowing companies to focus on core capabilities, fewer and more-strategic projects, and attracting the right talent to deliver on those projects· Longer-term cost savings from leveraging partner scale, allowing the business to reinvest savings and accelerate growthNew Technologies· Companies are hungry for faster time-to-market and lower cost-to-serve. Moving to newer technologies like cloud solutions, cognitive computing, blockchain, etc., is creating opportunities. · To win in the competitive global marketplace, businesses are under pressure to continually redefine themselves and take advantage of market opportunities with urgency. There is no "one size fits all"--but as companies review how they do things, segmenting opportunities that lend themselves to new technologies presents customer benefits and financial gains. Leveraging Standards· New methods, tools and processes also present opportunities in the form of increased efficiency and effectiveness--for example, the agile product development movement across the technology sector. · Companies are also reaping the benefits of moving to more standard and less customized lead-to-cash, CRM and customer service systems. The use of industry-leading standards is freeing up additional capacity for new investments to drive growth and scale. It's a Balancing ActModern technology strategies are not without their financial challenges--not least of which is the burden of aging legacy infrastructure or technical debt, not to mention the investments required in new technologies.CFOs are increasingly being leaned on to provide the strategic counsel to help manage this balance--considering both the short-term impact and long-term view in mind. How? By providing the facts. By balancing the possibilities, particularly as many of these themes start to drive a shift from traditional capital purchases to expense models. CFOs are ensuring that the organization is moving at the appropriate pace to harness opportunities while managing risks and delivering results. While CFOs are not required to have a degree in engineering or computer science, or indeed to write code, technology and continuous advancements in it are here to stay. Understanding the changing technology landscape and the opportunities within it is the ultimate enabler to influencing and supporting the business to succeed.Technology is not going away, and the CFO who stays abreast of the trends and who partners closely with CIOs and CTOs is uniquely positioned to drive growth, innovation and, of course, shareholder value. Understanding the changing technology landscape and the opportunities within it is the ultimate enabler to influencing and supporting the business to succeed
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