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News » CFOs, CIOs demand higher ROI from IT investments — Rimini Street survey

CFOs, CIOs demand higher ROI from IT investments — Rimini Street survey

CFO CIO demand higher ROI
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LAS VEGAS, UNITED STATES — A recent independent survey conducted by Censuswide and sponsored by Rimini Street, Inc. revealed a significant shift in the dynamics between Chief Financial Officers (CFOs) and Chief Information Officers (CIOs) globally. 

The survey, which included nearly 3,000 CFOs and CIOs, highlights the increasing demand for tangible results and return on investment (ROI) from IT expenditures.

Strengthening CFO-CIO partnerships

One of the key findings of the survey is the strengthening relationship between CFOs and CIOs. An overwhelming 86% of respondents indicated that their partnership has grown stronger. This collaboration is crucial as CFOs are taking a more active role in IT decision-making

According to the data, 72% of CFOs are now leading the charge in setting technology budget levels, and 41% of CIOs report that their CFO counterparts are making the underlying technology decisions.

Rimini Street CIO Gertrude Van Horn said that this partnership “helps technology teams make smart decisions that are in line with both the corporate vision and budgetary goals for the business”

“It’s the partnership that drives favorable outcomes for the company, and we lean heavily into this relationship to ensure we are identifying ways to achieve greater profitability while freeing funds for innovation,” Van Horn added.

Addressing rising IT costs

The survey also revealed that CIOs are actively seeking solutions to manage rising IT costs. Around 44% of CIOs are investing in emerging technologies such as artificial intelligence (AI) and data analytics to streamline operations and unlock new revenue streams. 

Additionally, 36% are outsourcing application support to manage costs more effectively. This approach not only helps in cost reduction but also improves service quality and resolution times.

However, the survey also highlighted a significant challenge, as 94% of CIOs acknowledged that their data needs substantial or moderate clean-up to maximize the value of their AI projects for enterprise resource planning (ERP) systems.

Evaluating technology initiatives

Not all technology investments are yielding the desired results. The survey revealed that ERP upgrades or migrations were considered the least valuable by 23% of CFOs. 

In contrast, investments in security (28%), emerging technologies like AI and business intelligence (27%), and customer-facing SaaS technologies (27%) were seen as delivering the highest value.

As IT costs continue to rise, the demand for measurable ROI from technology investments is becoming more pronounced. The deepening collaboration between CFOs and CIOs is pivotal in ensuring that IT expenditures align with business goals and deliver tangible results. 

This partnership is not only driving profitability but also enabling organizations to innovate and stay competitive in a rapidly evolving digital landscape.

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