The CIO role is changing and that means driving business goals. CIOs are focused on innovation, not running server farms.
According to an article on CFO.com, the CIO position is often closely scrutinized because technology changes quickly and IT budgets are so large. CIOs have to innovate and offer support and information for their companies based on rapidly shifting technologies.
They also have to recognize when problems don’t necessarily need a technology-driven solution. Sometimes, the CIO role will be geared more toward managing a variety of software and overseeing outsourced IT operations.
There’s also an evolution among CFOs. Ten years ago, CFOs typically had accounting, auditing or banking backgrounds. They were strategic money managers. Today’s CFOs, however, often have a technical background. These executives have more understanding of technology systems than they did in the past.
CFOs and CIOs are both in charge of the applications environment. They work together now more than ever and because of this, it’s paramount that they have a good working relationship. It is also critical for CIOs to adapt to the needs of their specific working conditions, sometimes adopting cutting-edge technological solutions and sometimes honing in on unorthodox business solutions outside the realm of technology.
Source: CFO, February 2012