Gartner and Financial Executives International conducted a survey of 255 CFO‘s in the US to understand their perceptions about technology, trends and planned operational improvements.
The CFO is increasingly becoming a top technology investment decision maker — if not the leading decision maker — in many organizations, according to a joint study by Gartner, Inc., and Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International (FEI). The study shows that the CFO‘s role in technology decision making has increased in the last year with 44 percent of CFOs stating that their influence over IT investment has increased since 2010, while 47 percent say that it has remained the same and just 9 percent of those surveyed believe that their influence has decreased.
The survey of CFO’s, which is in its fourth year, is designed to gather perceptions from financial executives about the economic environment, the CFO’s role in technology and their IT investment priorities.
The survey was conducted between October 2011 and February 2012, and it included 255 CFO respondents.
Topics covered included CFO’s views on various aspects such as the economic environment, their role in technology, their investment preferences, their views on ERP / business applications, BI / Analytics / CPM, shared services, outsourcing, and regulations.
Survey Highlights (Top 10):
1. Despite slow economic growth, CFO’s expect conservative, steady IT spending.
2. The CFO’s role in IT investment has increased again in 2012.
3. The 45% of IT leaders that report to the CFO are more than report to any other executive, and represent an increase of 3%.
4. Business analytics needs technology improvement.
5. CFO’s are focused on business analytics and business applications more than on technology.
6. Information, social, cloud and mobile technology trends are on CFOs’ radar.
7. Focusing on corporate performance management (CPM) projects, 63% of CFOs plan to upgrade business intelligence (BI), analytics and performance management in 2012. (EPM – relevant).
8. Despite advancements in strategy management technologies, CFO’s still focus on lagging key performance indicators (KPIs) only.
9. A pace-layered strategy for applications is needed (92% of CFO’s believe IT doesn’t provide transformation/differentiation).
10. New applications in financial governance rank high on improving compliance and efficiency.