I admire the CFO.
Principled, often introverted, oriented around security, the CFO is most often quite diligent, analytical and in pursuit of the best reliable information available.
The CFO is asked to cover a lot of ground. They must be great communicators, casting vision and value to the investor community. They must be strategic thinkers, monitoring the present while anticipating the future. They must be broad intellects, working with C-Suite peers in each of their areas.
On top of all that, the CFO must be a trusted partner with the CEO, and of all who the CEO works with, must possess the most candor.
As a CIO, your work with the CFO has always been critical, but now, often more frequent and far-reaching than before.
You have discovered some things along the way. Most CFOs are not fond of intrusions, demands made upon them, feeling unsupported or cornered, and overloaded with emotional input. Not a great surprise.
The CFO is Spock; the CIO is Scotty trying to give her all she’s got.
As a CIO, I have learned three shifts in perspective that make the difference in my relationship with CFOs.
1. We share common ground, not foreign territories.
I have learned to see the CFO as a technology suite. Even as we are fond of saying that every company is a technology company, so also every C-suite.
The CFO is responsible for investments that promote future scaling of business. They must not only manage growth but strategize for growth.
The CFO needs data for critical decisions and support around revenue, costs, profit and earnings.
Certainly, the CFO is all about security.
All of the above is true of the CIO but with different focus and responsibilities.
2. We succeed in collaboration, not in checks and balances.
Since we share the common ground of strategy, scaling, supporting data and security, we must collaborate on each from our diverse starting points but unified outcomes.
Together, we each seek better cash flow, lower financial risk, greater cost visibility and healthier return on assets. That’s just good business.
Overall risk management, whether aspects of business risk or IT investment governance, begs for collaboration between the CFO and CIO. It’s ground zero of common ground.
3. We communicate differently, but not at odds.
Most CFOs I know are analytical. They don’t get much into small talk, and they’ve been known to ruffle feathers with their straight talk. They deal in concrete realities, thriving in providing structure and minimizing risk. They like proof, and they take time to make a decision.
Me, not so much. I’m not at odds with such personalities; I share some of the traits. But I breathe a different air.
As leaders, we are responsible to communicate in ways that can be understood. Sure, the CFO needs to know me better and adjust; but I speak as a CIO, so I put it on us.
My CFO wants me to tie ideas to strategy, to research well, to present rationally and to come back to the table a time or two before a decision is made. I can live with that. S(he) won’t mind my candor, because they specialize in it. But they want the candor to be factual, not just emotional.
I like being emotional. I’m certainly more Kirk than Spock. But I’m also smart. And smart appreciates smart.
As a CIO, your work with the CFO has always been critical, but now, often more frequent and far-reaching than before.
In the end, the CFO is technology dependent, just not as technology informed as you are. Their appreciation for technology in business is second only to their need to be accountable. And they are extremely accountable to the bottom line.
Most Boards are composed of members who look at the numbers because that is their own background. The CFO is on the hot seat. As more Board members come from technology backgrounds, the CIO will be more on the hot seat too. They will know what you are talking about.
The CFO needs you.
So let’s help them. We share common ground that begs for collaboration that is easily communicated within.
The CEO has often kept the CFO close to their side; I see the day where the CFO keeps you close to their side as well.