CIOs and CFOs must work together to build the future of business

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Many companies have increased their investments in IT and infrastructure this year. Proxima VP Andy Wood talks to InformationWeek about key practices and trends in business that require collaboration between the Chief Information Officer (CIO) and the Chief Financial Officer (CFO).

Gartner predicts that worldwide IT spending will increase 8.4% in 2021 (including increases in spending on devices and enterprise software) to reach $4.07 trillion as companies continue to invest in comfortable and productive work environments.

To help their companies improve their afghanistan whatsapp data during the pandemic, business leaders have quickly begun developing new revenue management strategies. The CIO and CFO are closely involved. Sometimes these top executives disagree on spending as CFOs strive to cut costs. However, they share the same goals: maximizing the value of investments and optimizing core expenses.

Looking ahead over the next six to twelve months, what development trends should businesses expect?

IT Investments and the Corporate Agenda
IT investments have quickly moved up the CFO agenda and are a key budget priority. The pandemic has forced a huge part of the population to switch to remote work. For businesses, this means an increased need for IT infrastructure, so the importance of IT in the eyes of CFOs has increased dramatically. In addition, budget priorities for 2021 include capital and operating expenses (non-IT), payroll, marketing, sales, manufacturing, product support, etc.