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Survey: CFOs Taking on More IT Responsibilities

Survey: CFOs Taking on More IT Responsibilities

A recent survey of more than 340 financial executives conducted by Gartner found that CFOs are increasing the amount of time and focus they put towards IT operations.

According to the survey, 42 percent of IT organizations were found to be reporting to the CFO, while only 33 percent reported to the CEO. Additionally, the survey suggested that 26 percent of investments related to IT were ultimately approved by the company's CFO.

"This high level of reporting to the CFO, as well as their influence in technology investments, demonstrates the need for companies to ensure that their CFO is educated on technology, and underscores just how critical it is that the CIO and CFO have a common understanding on how to leverage enterprise technology," John Van Decker, research vice president at Gartner, said of the survey.

For the most part, the responding financial executives - 66 percent of whom were CFOs - reportedly devalued the role of IT in terms of providing business benefits. The survey found that only 30 percent of respondents said IT fulfilled its goals for the individual company.

According to ComputerWorld, the statistics represent a shift from the CIO managing a company's IT responsibilities to the CFO taking on more of a share in this regard.