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Showing posts with the label CFO

CIO Journey to the Corner Office - A reality or a Fantasy !

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Recently I was in a panel discussion in a Seminar and the question of the CIO's journey to the corner office as the CEO of the Company. Unfortunately the instances of the CIO transforming to a CEO are few in the world of business and there are number  of reasons logically this transformation is possible but in a Real world it is a fantasy. Let us examine the qualities of a good CIO the first of course is being a good team player, second political acumen to survive and please the various stake holders in business and the last is the IT prowess. CIO's who are successful do excel in people management and handling corporate warfare and wading through uncertain cycles in the business. But are these qualities enough to make them the CEO, there are certain factors missing, the CIO never leads the business troops which is essential to be a CEO, neither does the CEO interact with the Board on a regular basis in most companies, the CIO is drowned in budgets,data and analysis whereas many...

EDP CFO & Cloud Computing

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EDP was the origin of computing in business, it was the acronym for "Electronic Data Processing", The  EDP department was a busy factory during salary computation, closing of the financial books and also month end sales and inventory management and finally MIS (Management Information System) . There were no Microsoft workstation in those days, no lotus 123 just reams of printout in high speed printers which were transferred neatly into transparencies with marker pens ! The EDP was always under the control of the CFO - the chief financial office and EDP manager was a powerful person who had to be reliable and accomplished in technology. EDP began with punched cards, then tapes and so on ; today they are relics, but the EDP department was the temple of information, it was the knowledge bank of the business and access to it was restricted. The CFO was the lord and master of the EDP department because the first baby steps of data processing was accounting, late...