Modern CFOs need to work closely with CIOs to meet the evolving needs of today's business users and empower them, asserted Martin Fitzpatrick, CFO for Asia Pacific at Qlik.
"The modern organisation is driven by collaboration, where everyone plays a part in driving the business forward," said Fitzpatrick. Traditionally, CIOs had the final say on the softwares used in their organisations. However, business users today prefer to have a say in the IT solutions they need. As the use of the business users' desired IT solution might affect business growth, CFOs need to take charge of deciding what IT solutions to be implemented. They can do so by assessing if the IT solution will be able to help their organisation meet their business goals. Since new IT solutions might introduce risks to the IT infrastructure, CFOs need to work with CIOs to ensure that the solution is securely deployed and that the use of the solution complies with regulations, if applicable.
"[In short,] modern CFOs need to understand the needs of business users and work with CIOs to fulfill that need in a secure way," said Fitzpatrick.
Empowering business users
The value of data lies in the actionable insights it provides to help accomplish business goals. However, most data usually ends up underutilised as only selected business users have access to them. CFOs and CIOs can change this situation by deploying a business discovery platform, suggested Fitzpatrick.
"A business discovery platform empowers everyone across the organisation to access and analyse data to create insights and solve their unique business problems," said Fitzpatrick. Besides that, unlike traditional business intelligence tools which produce static reports, the business discovery platform also enables users to reassemble data in new views and create new visualisations on the fly for deeper understanding, he added. With each business unit being able to improve its performance through the insights gathered from the platform, it will ultimately lead to overall business growth.