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Striking a balance between the CFO (Chief Financial Officer) and CIO (Chief Information Officer) for IT project funding is crucial for the successful execution of technology initiatives. Here are some key points to consider: 🔑 💲 Understand Each Other’s Perspectives: The CFO typically seeks spending certainty and a clear ROI, while the CIO aims for continuous and dependable funding to deliver leading-edge technology solutions. 👨💻 Embrace Agile, Product-Based Approach: Modern digital organizations tend to use an agile approach with cross-functional teams and persistent funding. This contrasts with the traditional project-based approach, which CFOs may prefer due to its perceived spend certainty and ROI Here's a great article on this subject! ⬇

🚀 Leveraging Enterprise Architecture for Better IT Funding 🚀 Are you struggling to convince your CFO about the benefits of persistent funding for IT initiatives? Look no further! Organizations can leverage enterprise architecture principles and practices to shift from per-project funding to persistent funding. This shift not only supports digital success but also aligns with strategic objectives, ensuring long-term value and agility. Key takeaways include: ✅ Understanding the value of persistent funding over per-project funding. ✅ Leveraging enterprise architecture to communicate benefits effectively. ✅ Gaining CFO buy-in for a better IT funding model. Check out the full article “How to get your CFO to buy into a better model for IT funding” for valuable insights on transforming your IT funding approach and driving digital transformation success! Let's pave the way for a future-ready IT strategy together. What's your biggest challenge in convincing your CFO about IT funding models? Share your thoughts in the comments below! #EnterpriseArchitecture #ITFunding #DigitalTransformation #CFOBuyIn #StrategicObjectives #PersistentFunding #Agility #ValueCreation #FutureReadyIT #InnovationLeadership https://lnkd.in/eWWwBEki

Digital success requires a product-based approach to IT — and a shift to persistent rather than per-project funding. Lorraine Pauls Longhurst explains how to address your CFO’s concerns about costs and risks. If your CFO does agree to persistent funding you also need to have a conversation about what to do when efforts to move from an old system to a new one require more than one year of work before you'll see significant results.

Modern digital organizations tend to use an agile approach to delivery, with cross-functional teams, product-based operating models, and persistent funding. In contrast, traditional organizations use a project-based approach to delivery, with temporary teams created on an as-needed basis for a specific purpose with budgets based on up-front funding estimates. https://ow.ly/vU1350R26Gz

How to get your CFO to buy into a better model for IT funding

CIO Online: How to get your CFO to buy into a better model for IT funding Lorraine Pauls Longhurst #CIO #CFO #FinanceStrategy

Title: "Embracing Disruption: Financial Management for SMEs" In a rapidly evolving business landscape, small-to-medium-sized enterprises \SMEs\ must not only manage their finances effectively but also embrace innovation and disruption. To begin with, meticulous financial management is not just about balancing the books. It's about understanding the narrative those numbers tell about your business. Monitoring financial metrics, such as operating cash flow and net profit margin, provides a clear picture of your business's financial health. This information is critical in making informed decisions, reducing risk, and ensuring business sustainability. However, in the era of technological disruption and innovation, merely managing finances is not enough. SMEs must be agile, willing to pivot and adapt to changing circumstances. It's about viewing disruption not as a threat, but as an opportunity for growth and development. Take, for example, the rise of fintech. This sector has revolutionized how businesses manage money. By embracing these changes, SMEs can streamline their financial operations, enhance efficiency, and save costs. Furthermore, innovation should be at the heart of financial management. This means being open to new business models, revenue streams, and investment opportunities. It entails leveraging data analytics to gain insights into customer behavior and market trends. In conclusion, the fusion of sound financial management with an innovative mindset can steer SMEs towards sustainable growth in a disruptive business landscape. It's not just about surviving but thriving amidst upheaval. Remember, it's not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change. #FinancialManagement #Innovation #Disruption

🔍 Unlocking CFO Success: Mastering Financing & Strategic Leadership As CFOs, we’re entrusted with more than just overseeing financial reports and compliance. Our role is pivotal in navigating an evolving financial landscape, driving growth, and ensuring stability. Here’s how we can excel: 💡 Diversified Financing Options: Traditional Bank Loans: Reliable for predictable needs, though often with stringent terms. Venture Capital & Private Equity: Ideal for growth-stage companies seeking substantial capital. Crowdfunding & Digital Platforms: Growing in popularity for startups and innovative ventures. Alternative Financing: Consider asset-based loans, revenue-based financing, and factoring for flexibility. 📊 Strategic Cash Flow Management: Predictive Analytics: Use data to forecast cash flow and manage risks effectively. Optimizing Working Capital: Efficient management of receivables and payables enhances liquidity. 🎯 Enhanced Role in Strategic Planning: Scenario Planning: Prepare for various financial scenarios to guide through uncertainties. Cross-Functional Leadership: Collaborate across departments to align financial strategies with business goals. ⚖️ Regulatory Compliance & Risk Management: Stay Ahead of Regulations: Update compliance strategies to meet evolving requirements. Risk Assessment: Implement robust internal controls and risk management frameworks. 💻 Technology Integration: Financial Automation: Leverage advanced software for efficient reporting and analysis. Data Analytics: Utilize big data to drive insights and informed decisions. As CFOs, we are instrumental in maintaining financial health and steering strategic growth. I’m here to help businesses tackle financial management challenges, identify optimal financing options, and connect with the right investors to achieve their goals. Let’s elevate our leadership and navigate the financial landscape with confidence! #CFO #FinanceLeadership #StrategicPlanning #Financing #FinancialManagement #BusinessGrowth #RiskManagement #TechInFinance #CEO #Leadership #Investment #Capital #GrowthStrategy

Check out GSCF's new blog "Connected Capital" to learn more about the power of Working Capital as a Service and why a connected capital ecosystem can be a growth enabler: https://lnkd.in/eHhJHpCS #cfo #workingcapitalmanagement #workingcapitalefficiency #accountsreceivable #accountspayable #finance #financetransformation