in practice tant for the CFO to create a value mindset within the IT organisation. Driving long term sustainable value in operations will help increase operating and financial effectiveness. Thus, technological solutions driven by the IT organisation will drive greatest performance when their expertise is leveraged with a proper value mindset.” Rao feels that he is lucky to have a CFO who is actively involved with IT projects because the latter is also responsible for part of the business within the organisation. The CFO also actively participates in all the IT projects that goes around in the organisation. “I am lucky that I have for a CFO who understands technology thoroughly and reviews every ongoing project. He also doesn’t always look for return on investment (RoI) when sanctioning a project as he himself is working as a business head of a particular department. I believe that a CFO today has to be closely associated with technology if the organisation’s future is assessed,” adds Rao.
The key to success for an organisation is when the CFO and the CIO strikes the right balance and working in tandem to achieve organisational goals. It is imperative that the CIO and CFO understand that at the end of the day, the objective is to achieve the set goals and not step on each others’ shoes. According to J.S. Puri, Former CIO, Fortis and Mentor, Strategic Management Solutions, “It is in the interest of an organisation to strike a fine balance between the roles of the CIO and the CFO. Meanwhile, for a CIO to hold his own, there is a need for him to take up additional responsibilities. He should not limit himself to the IT department and should instead handle additional roles. This would not only increase his stature within the organisation but also add value to his own profile. Puri further adds, “A CIO should also grab whatever opportunity he gets 34
CFO india
september 2012
“It is imperative for a CIO and CFO to work together and bring the best of each other to the company’s plate” —Anup Vikal, CFO & Head of Strategy & IT, Interglobe Enterprises
to make his presence felt within his organisation. This opportunity could be in a meeting with the top management. The CFO should realise the fact that he can’t work without the support of the CIO and vice-versa. The two should collaborate if they have to take their company to the next level of growth.” According to Anup Vikal, CFO and Head IT & Strategy – Interglobe Enterprises, “I have been handling both the portfolio’s of a CIO as well as of CFO in this organisation for the last two and a half years and one has to have immense knowledge of both the domain to do justice to the positions. I have worked
with the organisations where the CIO and CFO are on the governing body because these two are key positions in an organisation. It is imperative for a CIO and CFO to work together and bring the best of each other to the company’s plate. Both have to collectively work to enhance the growth of the organisation.” Both the positions of CIO and CFO are equally important for an organisation. The debate of whether CIOs position will be relevant in the future will solely depend of how CIOs strengthen their with skills apart from technology and become leaders in their organisations.
jiten gandhi
Striking the right balance