Workday and Deloitte Global CIO Survey: CIO-CFO Collaboration Fuels Business Transformation
Seventy Percent of CIOs and IT Leaders Surveyed Say the COVID-19 Pandemic Has Accelerated Their Finance Transformation Strategies By at Least a Year
Findings Highlight That “Progressive CIOs” Drive Finance Transformation With a More Strategic, Data-Led, and Collaborative Mindset
PLEASANTON, Calif. and NEW YORK, Sept. 14, 2021 (GLOBE NEWSWIRE) -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, and Deloitte Global today announced the results of their joint global survey exploring how digital acceleration — prompted by the pandemic — has influenced the thinking of chief information officers (CIOs) worldwide. The research finds that CIOs are helping to lead finance transformation and shifting strategies to meet evolving business and technology demands, with 70% of CIOs surveyed having accelerated their finance transformation strategies by at least a year.
The report, “A More Effective CIO-CFO Partnership,” is based on a survey of more than 600 executives worldwide. Findings reveal that individuals referred to as Progressive CIOs, which represent just 8% of the total sample, take a specific approach to enterprise finance transformation and behave differently than their peers with regard to mindset, collaboration, and technology strategy.
CIOs and IT leaders are facing increased pressures to adapt and accelerate their digital strategies — without disrupting critical business operations. As a result, Progressive CIOs have built strategic alliances across their organizations, with 90% of Progressive CIOs reporting that their IT departments are much more integrated into other areas of the business than they were 12 months ago.
Progressive CIOs support finance transformation in three key areas, including:
Comments on the News
“Today’s most successful IT leaders are working in close alignment with the finance function to drive toward common goals, processes, and priorities,” said Matt Schwenderman, Deloitte Global Workday Financial Management leader. “While we’re seeing a continued prioritization of digital technologies as a result of the pandemic, our research highlights that Progressive CIOs recognize that the digital disruption triggering finance transformation will focus leadership on business insights and data analytics.”
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