IT Finance: Big Company Role Requires Excellent Tech Skills

Here’s more on CFO types becoming tech types. The IT Finance positions in large companies requires a “deep” understanding of technology according to CFO.com:

The one exception to the rule that a deep understanding of technology isn’t necessary is in IT Finance. These specialized departments, which can be found at Pepsico Inc., Charles Schwab Corp., and Safeway Inc., act as liaisons between IT and business units and are responsible for allocating IT costs.

“That’s a very sensitive exercise,” says recruiter John Wilson of San Francisco-based J.C. Wilson Associates….Besides being whizzes at finance, people in these positions must have a deep understanding of technology and excellent communication skills.

For the most part, though, becoming successful in corporate finance requires merely a high-level understanding of technology’s uses. To have more can even be a problem if the technological depth was acquired at the expense of deep financial training.

l like the balance in this statement and how they differentiate between IT Finance and other financial types as it relates to understanding technology. CIOs should first focus on making sure that the organization understands technology to the degree required to make decisions about it in their area.

What do you think? Anyone have experience with a person who has performed the IT Finance role? How does it link up with the governance/PMO functions of a company? I would think that this role plays a very important part in prioritizing projects.

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