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Finance Gains Influence over IT

48% of CFOs surveyed expect to hike capital spending.

By staff Writer | Updated on July 11, 2011

Information technology increasingly falls under the oversight of a company’s finance chief, according to a recent survey by technology consulting Gartner, Financial Executives Research Foundation and the Committee of Finance and IT of Financial Executives International. The survey of 344 finance executives shows that IT reports up to the CFO in 42% of organizations.

Finance chiefs also have a lot to say about how IT spends its money: CFOs authorize IT investments in 26% of organizations, and CFOs and CIOs jointly sign off on investments in another 25%. Only 5% of CIOs can authorize investments on their own.

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