Blog: Technology Consulting

The Changing Role of the CFO

March 20, 2017 - by Synoptek

The worlds of business and IT have become so dependent on each other that it’s sometimes difficult to separate the two — and this can cause headaches for executives. Due to our on-demand, anytime, anywhere culture, Chief Financial Officers (CFOs) are discovering technology has become a huge responsibility for them. In fact, technology can be one of the most stressful parts of a CFO’s responsibilities.

CFOs are making strategic business & IT decisions

CFOs can reduce costs and help the organization adapt to technology shifts faster by working closely with IT to establish process and automation. Unfortunately, many CFOs do not feel that they have a shared responsibility with their IT counterparts. Additionally, employees in other departments no longer see IT personnel as achieving business outcomes or as a main source of innovation. In some cases, IT departments simply put out fires and this can put businesses at risk. Many CFOs are seeing this risk play out and are demanding more visibility into the cost of their IT operations.

CFOs and CIOs looking for a more collaborative and strategic approach to IT have been partnering with Managed Services Providers (MSPs) for IT-as-a-Service (ITaaS). ITaaS is a subscription based model that can transform IT from a cost-center to a business enabler. Here are a few benefits organizations can realize by adopting the ITaaS model:

  • Cost Visibility. IT services and costs are predictable through the ITaaS model. This allows organizations to gain a clearer understanding of the value of their IT spend.
  • Flexibility. Tailored service models allow for easy capacity changes to the support model.
  • Improved Operations and Systems. ITaaS is NOT new, it has evolved over time and organizations that are utilizing the model have realized greater efficiency at a lower operating cost.
  • Business Value and Alignment. By putting the burden of day to day IT challenges on a Managed Services Provider, internal IT departments can focus on “bigger picture” projects, and apply their talents to more strategic initiatives.

ITaaS = Optimizing IT Production for Business Results

CFOs and CIOs are key to executing and culturally adapting the ITaaS model internally. If you are interested in partnering with a Managed Services Provider for ITaaS, here are a few key considerations before getting the process started:

  • Create an Internal Plan. Set objectives that your organization wants to achieve through technology. Look at your business models, processes, and tools; get your internal stakeholders on the same page to prepare the organization for a significant transformation.
  • Ask about Reliability and Access. Questions you should ask a Managed Services Provider: Do they have a help desk that runs 24x7x365? How does the MSP monitor your environment? How can your organization find out if systems go down?
  • Establish Operational Accountability. Define your required service levels, response time, and the agility you need from a Managed Services Provider.
  • Financial Transparency. Tracking current IT costs and getting ITaaS pricing from an MSP is essential to make an informed decision and will help you understand the cost of transforming your IT and business.

Don’t just Outsource – Right Source

Savy CFOs and IT executives are working together and realizing the long-term dividends by choosing a single source, skilled MSP to cover their day to day IT challenges. Managed Service Providers are equipped with the people, processes, and technology to help your organization meet the need for; function, capacity, cost transparency, and performance levels. As technology continues to evolve, organizations need a forward-looking agile MSP partner to help them implement strategy and operations that can help achieve measurable Business and IT results.

To learn more about Synoptek’s ITaaS model, simply fill out this form and we’ll be happy to get back with you to answer any of questions. Need immediate assistance? Give us a call now at 888-796-6783.

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