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IT providers need to make friends with the CFO – quickly

For IT providers, the finance director has always been an important influencer but recent research suggests the role of the CFO is more critical than ever.  In fact he or she is now the primary decision maker, with 42% of IT directors reporting to the CFO.  This trend will continue as over half of CFOs want to implement a similar reporting structure in the future.

Understanding what makes the CFO tick is therefore essential for successful marketing communications and achieving subsequent sales.  Messaging needs to be even more business benefit orientated and directly demonstrate how the business’ long term goals can be achieved.

Getting the communications balance right presents both an opportunity and threat to potential technology suppliers.  Overall, in 75% of organisations, the CFO plays a vital role in determining IT investment

One thing PRs will be familiar with is boundary spanning and the need to represent the interests of multiple stakeholders when communicating.  IT providers now need to adopt a similar approach and getting CFOs on side is easier if, as a supplier, you are able to play a ‘boundary spanning’ role, negotiating the needs of both IT and finance as primary key stakeholders.

Befriending the CFO – key do’s and don’ts for IT providers to remember

Do’s	Don’ts
Demonstrate business drivers and economic impacts	Let projects over-run on time or cost
Communicate well and often	Tolerate slack project management
Promote cutting edge technologies	Allow poor planning and forecasting
Help to foster good relationships between IT and CFO

It is essential to win the endorsement of the CFO for a particular technology solution and understanding how to reach this individual and communicate in a meaningful way is critical for sales success.