Published: 17 August 2023
Selecting financial planning software is challenging for CFOs due to significant internal resource requirements and new advanced software features that further complicate evaluation. This research teaches CFOs how to best collaborate with the CIO to improve evaluation and implementation success.
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Collaborating with key stakeholders, such as the CIO, during the financial planning software selection process allows CFOs to significantly reduce the risks associated with utilization inefficiencies, integration challenges, incomplete solution fit and increased IT complexity.
Leveraging the CIO’s experience early in the software selection process is essential to help CFOs address the increasing data and integration requirements that vendor advancements in supporting integrated operational planning and AI and machine learning (ML) demand.
A comprehensive RFI and RFP involving both the CFO and CIO is crucial to objectively assess potential solutions or vendors, leading to improved decision making and
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