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It Could Be The Beginning Of A Beautiful Friendship

CFOs and CIOs are working more closely than ever to fight technology waste and focus on bottom-line results

By John Labate | Updated on May 01, 2004

There was a time when Diebold Inc., a leading producer of ATMs and voting machines, was organized the way most other Fortune 1000 companies are. There was a CFO and a CIO, and both independently reported to the CEO. The CFO purchased technology solutions for finance, and the CIO bought the systems for the rest of the company. The CIO’s view didn’t carry much weight in the CFO’s choices, and the CFO was heard from on purchases outside of finance only when IT was over budget.

For Diebold, all that changed when Gregory Geswein walked through the door. Diebold CEO Walden O’Dell hired Geswein as CFO in 2000, after the U.S. corporate spending spree that preceded Y2K. Geswein arrived to find a company with systems that were diverse and scattered, thanks to a series of acquisitions, and an existing ERP system that he considered an unsatisfactory fit with Diebold’s strategic goals.

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