Tag: Corporate governance

Wall Street Veteran Blythe Masters Appointed to Phunware Board of Directors

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Former CEO of Digital Asset, CFO of J.P. Morgan’s Investment Bank and Chair Emeritus of Linux Hyperledger Project Appointed as Certified Financial Expert

Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced the appointment of Blythe Masters to its Board of Directors.

Blythe Masters is an experienced financial services and technology executive and currently an Industry Partner at the private equity and venture capital firm Motive Partners. She is the former CEO of Digital Asset – provider of the world’s leading smart contract language DAML – which she led from a startup in 2015 until 2018, serving customers including the Australian Securities Exchange (ASX). She is Chair Emeritus of the Governing Board of the Linux Foundation’s open source Hyperledger Project, International Advisory Board Member of Santander Group, Board Member of OpenBank and Advisory Board Member of the United States Chamber of Digital Commerce, Figure Technologies – the blockchain-powered consumer financial products company – and the residential mortgage exchange, Maxex.

Blythe was previously a senior executive at J.P. Morgan, which she left after 27 years in 2014, following the successful sale of the physical commodities business which she built. Blythe was a member of the Corporate & Investment Bank Operating Committee and the firm’s Executive Committee. Positions at J.P. Morgan included Head of Global Commodities, Head of Corporate & Investment Bank Regulatory Affairs, CFO of the Investment Bank, Head of Global Credit Portfolio and Credit Policy & Strategy, Head of North American Structured Credit Products, Co-Head of Asset Backed Securitization and Head of Global Credit Derivatives Marketing.

Blythe is a past Chair of the Global Financial Markets Association (GFMA), the Securities Industry & Financial Markets Association (SIFMA) and the public consumer finance company Santander Consumer Holdings Inc. (NYSE: SC).

Blythe is currently Co-Chair of the Global Fund for Women, Vice Chair of ID2020, Advisory Board Member and past Board Member of the Breast Cancer Research Foundation, Board Member of the Feminist Institute, and former Chair of the Greater New York City Affiliate of Susan G. Komen for the Cure. Blythe holds a Bachelor of Arts degree in Economics from the University of Cambridge.

“We are incredibly excited and honored to have appointed Blythe to our Board of Directors,” said Alan S. Knitowski, President, Chief Executive Officer and Co-Founder of Phunware. “Her background on Wall Street and her operational credentials and pedigree speak for themselves.”

The Phunware Board of Directors unanimously approved the appointment of Blythe Masters as the Company’s Certified Financial Expert, including her appointment as Chair of the Audit Committee and Member of the Compensation Committee.

“I am looking forward to helping Phunware become a household name on both Wall Street and Main Street,” said Blythe Masters. “The Company sits at the intersection of mobile, cloud, big data and blockchain and I look forward to contributing to its efforts in becoming the global enterprise platform standard for Fortune 1000 digital transformation initiatives.”

Safe Harbor Clause and Forward-Looking Statements

This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission (SEC), including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

About Phunware, Inc.

Everything You Need to Succeed on Mobile — Transforming Digital Human Experience

Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com, https://www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191230005052/en/

Contacts

PR & Media Inquiries:

Brent Brightwell

bbrightwell@phunware.com

T: (512) 537-8301

Investor Relations:

Brendhan Botkin

bbotkin@phunware.com

T: (512) 394-6837

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Getting Deeper on Our Engagement with APJ Partner Advisory Board

Dell Community Leave a comment
Hanoi was a perfect setting for our APJ Partner Advisory Board (PAB) meeting earlier this month. Hanoi is bustling and always full of action—just like our Dell Technologies Partner Program. Partner Advisory Board members have been a great sounding board to provide constant feedback and a continuous reality check on our performance, on areas of improvement and all things that we continue to enhance to make this program the best in the industry. Our regular and frequent PAB meetings ensure we keep our eyes and ears close to the ground, and every meeting brings forth interesting … READ MORE

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RSA Archer Audit Planning & Quality

Dell Security Leave a comment

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What is audit planning?

Audit planning is the practice where internal audit functions assess the risk across their audit universe and determines the audit engagements they need to perform in the months and quarters ahead. They plan their audits based on risk and compliance gaps, strategic objectives of the organization, important topics and other priorities.

 

What is audit quality measurement?

Audit quality measurement is the execution of quality surveys to monitor the effectiveness and comprehensiveness of audit processes.  These surveys provide key insight on how well the audit function is meeting the business’ needs and working with business and IT management during an audit.

 

Why is audit planning and quality important?

According to PwC’s 2018 State of the Internal Audit Profession Study and survey of more than 2,500 audit executives, 82% of innovative audit functions collaborate with other lines of defense to align technology tools’ uses and functions, vs. 45% for non-innovative audit functions.  Internal audit’s main challenge is not having access to broad, dynamic enterprise risk and control information and analysis, but it’s actually using the information for agile audit planning.  Instead, many audit teams rely only on their point-in-time risk assessments to drive audit work. This prevents internal audit from adjusting their audit plans to rapidly changing risks and business concerns.

 

With decentralized audit plan and risk assessment documentation captured in multiple tools and systems that are difficult to integrate, there is no easy, fluid way to manage audit plans, let alone coordinate objectives among risk and compliance groups.  Internal audit is also under pressure from audit committees and management to improve their processes; yet their quality control procedures are sporadic, inconsistent and difficult to follow up on.

 

RSA Archer Audit Planning & Quality

The RSA Archer Audit Planning & Quality use case addresses the problems outlined above through key features that include:

  • Complete workflow to create and assess audit entities, perform risk assessments, and create and manage audit plans
  • Workflow to schedule audits and tie forecast and actual expense and time in between audit engagements and the audit plan
  • Centralized location for storing and managing audit plans, audit entities, and assessment results
  • Audit quality assurance and review questionnaire workflows

 

With RSA Archer Audit Planning & Quality, you will be able to:

  • Execute a more dynamic, risk-driven audit plan that is easily adjusted to match the organization’s priorities and focuses on the most important risks
  • Easily provide Board-level reporting that keeps the audit committee well-informed of the status of audit plans, risks and critical findings
  • Demonstrate the strategic value of internal audit and more efficient use of audit resources
  • Reduce external auditor fees by providing self-access to information they need

 

RSA Archer Audit Planning & Quality enables internal audit teams to define their audit universe, assess risks and plan audit engagements that better address risk, and manage their audit staff and audit schedule. RSA Archer Audit Planning & Quality is a critical element of Integrated Risk Management (IRM). Since RSA Archer Audit Planning & Quality integrates management risk and control information, internal audit can ensure their audit objectives are aligned with IRM teams and play their essential role as the third line of defense. As your company drives business growth with new initiatives, technology adoption or market expansion, your internal audit function can evolve and react to risk with more agility and integration than ever before.

 

RSA Archer can help your organization manage multiple dimensions of risk on one configurable, integrated software platform. With RSA Archer solutions, organizations can efficiently implement risk management processes using industry standards and best practices and significantly improve their business risk management maturity.

 

For more information, visit RSA.com or read the Datasheet.
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CIOs and CFOs Need to Work Together

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It is time to break the misconception that CIOs and CFOs have competing priorities to spend and save money. Every executive is tasked with doing the right thing for the whole company, not just for his or her function. That said, IT has traditionally been accounted for as a General and Administrative cost, so rather than being perceived a strategic partner, IT is deemed a big cost center and a lever to pull to reduce costs.

group of people sitting around a table with open laptop computers

In today’s hypercompetitive global marketplace, creating and introducing a new product faster and closing a deal and collecting cash faster is not just an advantage, it’s a necessity. IT holds the keys to make this happen, but we can’t do that alone. We need to work closer with our CFO and business partners to reduce, reallocate and reinvest in modernizing and transforming IT for the future.

Recognizing that the relationship between the CIO and CFO is also transforming, Dell EMC and Forbes Insights recently published a study titled, IT TRANSFORMATION: Success Hinges on CIO/CFO Collaboration. After reading the study, Dell’s CFO Tom Sweet and I discussed the findings in this video, but I also wanted to share my perspective as Dell and VMware’s CIO.

First, while nearly all respondents agreed that CIO and CFO collaboration is critical, 89 percent said there are significant barriers including outdated reporting structures, incentives and attitudes. Well, the good news is that both CIOs and CFOs are under immense pressure to do what’s best for the company and to maintain or gain a competitive edge. If we don’t, we will trail our competition or worse be disrupted by an upstart hungry to eat our lunch. How’s that for a unifying incentive? On the plus side, collaborating more effectively with the CFO enables us to better understand the company’s goals and financial pressures to strategically advise and give our business partners the levers needed to make informed decisions that propel us forward. So, it is a win-win.

Second, according to the study, it is becoming even more important for CIOs to have managerial and business skills, with 74 percent of respondents adding that CIOs should have an entrepreneurial mindset. For more than 20 years, I have made it my mission to aggressively and creatively deliver the innovation, performance and scale the business has demanded despite having flat or shrinking budgets. However, our continual focus on keeping the lights on and hitting tighter financial targets distracts us from being entrepreneurial. Not only do we need to find ways to automate and run leaner so we can better focus on innovating IT, but we need to show the CFO our progress doing so. This builds trust and enhances our ability to sell our strategy and justify investments with the CFO and other leaders to truly modernize and transform IT.

And finally, the study shines a light on our need to drive a cultural change between CIOs and CFOs by designating change agents on both sides of the aisle and incentivizing them to collaborate. However, this alignment doesn’t stop at the CFO level. Rather than reacting to requests, IT professionals need to closely partner with all our business leaders to truly understand their digital transformation strategy and share the responsibility for ensuring the success of their business initiatives. By embracing the Dell Digital Way that leverages Pivotal technology and paired programing, an agile methodology, Pivotal Cloud Foundry and Spring-based tools, we are digitally transforming how our team does business. In addition to enabling us to rapidly deliver a much better end product for the business, this also builds confidence with the CFO and our business partners.

The bottom line, we are at a crossroads. We can continue down the traditional, frequently traveled road and risk being disrupted. Or we can transform IT to work closer with our CFO and the business to not only address the financial pressures all companies face, but modernize IT to advance our digital transformation strategy and ultimately help Dell win big. Personally, I refuse to be disrupted, so the road less traveled looks much brighter to me.


ENCLOSURE:https://blog.dell.com/uploads/2018/02/group-roundtable_1000x500.jpg
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Malcolm Nance: Russians “Hacked The Mindset Of The American People,” Could Throw 2018 …

PCIS Support Team Leave a comment

MALCOLM NANCE: September 23rd, 2016.

VELSHI: How interesting.

NANCE: Before the election.

VELSHI: How interesting. Because we talk about this all of the time on this network. You have written about this. It is — you’re coming into 18 months since you’ve written a book. And the government is now going to think about telling people that the Russians might try to interfere in the mid-term elections. Why don’t we start with the president acknowledging that the Russians interfered in the 2016 elections?

NANCE: That is a very good question. Because the constitution requires him to protect and defend the United States from all enemies, foreign and domestic. We have clearly identified that the Russians hacked the election. They also did more than just — they didn’t hack the votes, they did something bigger and better, they hacked the mindset of the American public, by using WikiLeaks and the news media to bring up one word into the mind of the American public and that word was “E-mails,” and so long as anybody heard the word e-mails, they associated that with nefarious activity, even though nothing was found to be nefarious. That being said, the Russians could easily attack us this year in a very broad-based cyber warfare operation just like they did in 2016.

VELSHI: So here is the other part of this thing. Tillerson said that if it is their intention to interfere, they are going to find ways to do it, we could take steps but once they decide they’re going to do it, it is very difficult to preempt it. You seem to think otherwise. That we have information — that Democrats in Congress wrote a 260-page report about this stuff. There are many things we can do.

NANCE: You’re absolutely right. And that Democratic report on active measures is brilliant. It is almost an encyclopedic document showing how Russia uses this methodology when they want to interfere in elections. The reason the Russians are doing it because they can get away with it. They know that democracy is slower than a dictatorship. And that our elected officials, half of them are with the president.

They refuse to believe it in the face of evidence. If it was a terrorist attack with a bomb, they would be doing everything that they could to protect the people. However, this particular election that is coming up is a midterm, and right now we see that there is a possibility that the Democrats may turn out more than Republicans. The Russians might this time actually play with the voting totals if there is a wave election and that would throw the entire election into doubt. And would essentially set the pace for civil war and that is what the Russians are looking for. Chaos is their principal weapon system here.

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African National Congress, Amtrak, Donald Trump: Your Tuesday Briefing

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In 2016, two climbers perished near the summit, where their bodies lay frozen for a year. This is the story of the journey to bring them home.

_____

• India’s governing party fended off concerns about the economy to easily win two state elections, a victory for Prime Minister Narendra Modi.

His Bharatiya Janata Party is criticized for stoking religious divisions but showed continued strength. Still, there were cracks, with some weakening in Gujarat, one of India’s most industrialized states, where Mr. Modi was a celebrated chief minister.

“The arrogance of the B.J.P. has been tamed a bit,” one analyst said.

_____

•Secretary of State Rex Tillerson revealed details about secret U.S. planning on North Korea, surprising the White House.

In a speech last week, Mr. Tillerson said the U.S. would seize the North’s nuclear weapons and then quickly withdraw to South Korea if Kim Jong-un’s government ever showed signs of collapse. That would effectively cede the North to China, which would likely deploy its own troops to locate warheads. Mr. Tillerson said that Chinese officials had discussed the scenario — typically taboo in China — with the U.S.

The North has as many as 50 warheads, and there are fears they could be launched if the regime unravels.

_____

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Business

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• European regulators opened an investigation into the tax structure of the furniture retailer Ikea, the latest inquiry in a crackdown on potential tax evasion by multinational corporations.

• Boeing clashed with Canadian jet maker Bombardier in a hearing before the International Trade Commission in a trade conflict adding to an atmosphere of rising tensions between the U.S. and its closest allies. Bombardier, meanwhile, announced a joint venture in China to build a monorail for the eastern city of Wuhu.

• The computer chip industry is being shaken up by an aggressive set of chief executives who are pushing big acquisitions, slashing costs and driving up profits.

• The Instant Pot is a global phenomenon. We visited the Canadian company’s Taiwan-born founder to learn why. (And our reporter went out and bought one, too.)

• Bitcoin’s futures dropped slightly as trading began on the Chicago Mercantile Exchange financial futures market, the world’s largest. Meanwhile, researchers found signs that North Korean hackers are trying to steal cryptocurrency.

• U.S. stocks were strong. Here’s a snapshot of global markets.

Market Snapshot View Full Overview

    In the News

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    Credit Mujahid Safodien/Agence France-Presse — Getty Images

    • Cyril Ramaphosa, an anti-apartheid hero and business tycoon, has become the new leader of the African National Congress, positioning him to become South Africa’s next president. [The New York Times]

    • The U.S. vetoed a Security Council resolution condemning its decision to move the American embassy in Israel to Jerusalem. But the lopsided vote — 14-1 — underscored U.S. isolation on the issue. [The New York Times]

    • South Korea scrambled fighter jets after five Chinese military aircraft entered a disputed area, a tense episode that came just days after President Moon Jae-in returned from meetings in Beijing seeking “a new start” with China. [Korea JoongAng Daily]

    • Hua Yong, an artist who has been documenting the mass expulsion of migrant workers from Beijing, was detained in Tianjin, but released on bail. [The New York Times]

    • An air base in England used by the U.S. Air Force was put on lockdown after American military personnel shot at and detained an intruder who tried to force his way through a checkpoint. [The New York Times]

    • Puerto Rico’s governor ordered a review of every death on the island since Hurricane Maria struck, after independent analyses — including our own — yielded far higher estimates than the official count of just 64. [The New York Times]

    Smarter Living

    Tips, both new and old, for a more fulfilling life.

    • Don’t waste your time with bad resolutions. This is how to do them right.

    • Recipe of the day: How about some smashed cucumbers with sesame oil and garlic, alongside a big vat of takeout-style sesame noodles?

    Noteworthy

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    Credit Courtesy of Ana Ramana

    • This week’s Australia Diary is by an American who was touched by the kindness of strangers after the online friend she was planning to finally visit in Sydney died unexpectedly. “I’d been thinking maybe Australia wasn’t meant to be. And yet, one year later, here I am.”

    • In memoriam: the K-pop star Jonghyun, 27, who was found unconscious in a Seoul apartment by his sister.

    • We told you yesterday about our Pentagon reporter’s discovery of a secret program that investigates service members’ reports of U.F.O.s.

    Today on “The Daily,” she describes how a tip led her to a four-hour meeting in a nondescript hotel lobby in Washington with the intelligence officer who led the program. And we talk to him, too.

    Back Story

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    Credit Adrian Wyld/Canadian Press, via Associated Press

    The National Hockey League wrapped up a yearlong celebration of its 100th anniversary on Saturday with an outdoor game, above, between the Montreal Canadiens and the Ottawa Senators.

    It commemorated a matchup between the teams on this day in 1917, when the first games in the league’s history were played. On the same night that the Canadiens beat the Senators, 7-4, the Montreal Wanderers defeated the Toronto Arenas, 10-9.

    Now with 31 teams from South Florida to Vancouver, the N.H.L. started with four Canadian teams spread over less than 350 miles. The league was founded in a Montreal hotel in late November 1917, in the thick of World War I, when professional hockey was still a fairly new concept.

    The Canadiens are now one of North America’s oldest professional sports franchises. The Arenas eventually became the Maple Leafs. And although the original Senators folded in 1934, the franchise returned as an expansion team in 1992.

    But the Wanderers are a blip in N.H.L history. Their victory on opening night was their only win in the league. They lost their next five games and then quit the league after their arena burned down on Jan. 2, 1918.

    Naila-Jean Meyers contributed reporting.

    _____

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    A Business Value Approach to IT Investing

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    Business today requires the effective use of technology to create competitive differentiation, drive growth, and optimize profit.   Yet, while business is dependent on technology, increasing IT expenditures can be viewed as a drag on business results. That’s why evaluating technology investments in terms of business outcomes is so important.

    We’re familiar with the stories of how technology has changed not only businesses but entire markets.  The first-to-market coffee chain offering free wifi has a competitive advantage. The on-line book seller that leveraged its infrastructure to become an IT service provider realized phenomenal business growth. The brick and mortar retailer that integrated its supply chain and its distribution centers was able to optimize profits.

    The organizations behind these success stories evaluated investments not only in terms of cost but also in terms of the value the investment could bring to the business—the business outcome.

    In “The Best Path Forward”, an article by Russ Banham about how CFOs make capital budgeting decisions, the author acknowledges how difficult these decisions are, saying “deciding whether an investment is worth funding is not a job for the fainthearted.”  Knowing that CFOs usually are directly involved in most technology decisions or define the criteria by which they’re evaluated, it’s helpful to know how CFOs think about and evaluate investments.  Banham quotes Mark Partin, CFO of the accounting software company BlackLine, as seeing the CFO’s role as “stitching together [the company’s] strategic growth plan and fundamental investment model, year after year.”  Banham goes on to state that David Hensley, CFO at Power Distribution, discovered “the techniques of capital budgeting can be biased toward certain kinds of projects and rarely give CFOs all the answers…it is often the risker, hardest-to-measure investments that can be most transformative for a company.”

    As we’ve collaborated with our customers to help them not only to evaluate the potential value of a technology investment decision but to look backward at the total IT, business and financial impact of that decision, we’ve learned that it’s essential to go beyond the “classic” criteria used to evaluate technology decisions, especially those in the data center.

    In the classic business model, IT was a cost center and the key criterion when choosing between investment alternatives was to select the option deemed to have the lowest Total Cost of Ownership (TCO).  But TCO allows us to measure only a small portion of the value of any potential investment. TCO not only fails to recognize the transformative opportunities of technology but also keeps IT relegated to a cost-corner rather than positioning IT leadership as equal partners in the business.

    At Dell EMC we collaborate with our customers, applying a business value approach that encompasses strategic goals as well as financial and non-financial criteria that go beyond TCO to demonstrate business and IT value, and to position IT as a champion of better business outcomes.

    These value principles underpin our unique Customer Value Program enabling us to help customers assess, or forecast, the value of a converged/hyper-converged solution, implement operational and organizational changes to transform and unlock more value from their investment, and use a proactive, continuous-improvement approach to realize, drive and measure the most value from their investment.

    The Customer Value Program leverages the successful transformation projects of many customers who have navigated technology, organizational, resource skill, and process changes to enable better planning decisions, mitigate risk and maximize the probability of desired business outcomes. From detailed guidance, assessment tools and expert advice, to educational and certification programs, to quantifying business, IT and financial outcomes, the Customer Value Program provides a comprehensive process to chart a Transformation journey.  Start yours today by going to http://www.dellemc.com/converged-infrastructure/customer-value/index.htm

     


    ENCLOSURE:https://blog.dellemc.com/uploads/2017/10/Tablet-Desktop-Three-Employees-Team-IT-Work-1000×500.jpg
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    Can CFO/CIO Frictions Torpedo IT Transformation Goals?

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    Most enterprises aren’t just talking IT Transformation anymore – they are placing big bets and big money on modernizing IT infrastructures. None of this is technology for technology’s sake — senior executives have clear business goals in mind when they invest in IT Transformation. Unfortunately, despite these major investments in time and money, many of them still haven’t found the secret to transformation success or how to deliver concrete business results from these efforts.

    A new study by Forbes Insights and Dell EMC released today shows that the number of organizations dedicating up to 50% of their budgets to IT Transformation will rise nearly fivefold by 2018. The most critical goals include the drive to reduce IT costs (75% of respondents), be first to market with new products and services (73%) and reallocating funds to strategic business projects (67%). With so much riding on these transformations, it’s critical to understand the potential barriers and how to overcome them.

    Why? Because leaders – where IT Transformation is established and starting to be viewed as a key strategic priority – are more than 2X as likely to report they are ahead of their competition and 2.5X more likely to report return on investment in 12 months or less.

    Many enterprises still aren’t gaining a clear competitive advantage from transformation strategies. In fact, 59% say they’ve achieved parity with competitors. Less than stellar transformation results often center on problems that arise between two pivotal players — CIOs and CFOs, who struggle to work together as a team.

    According to the study, collaboration problems are exacerbated by conflicts arising from traditional reporting structures and a lack of new incentives aimed at fostering closer cooperation between CIOs and CFOs. CFOs point to problems stemming from a lack of business expertise among CIOs and the conflicting priorities of the two groups – although they also acknowledge that their own attitudes about the role of CIOs are outdated.

    An astounding 89% of senior executives surveyed acknowledge that significant barriers keep CIOs and CFOs from collaborating more closely on IT Transformation initiatives. Nearly all respondents (96%) see close CIO/CFO collaboration as being important or critical to business success; however less than 40% would describe it as excellent. Interestingly, when asked to rate the effectiveness of CIO/CFO collaboration, nearly three-quarters (72%) of CEOs and 63% of COOs consider it excellent.

    Realizing the full benefits of IT Transformation requires better CIO/CFO collaboration, but where do you start? The report recommends these 6 steps:

    1. Update reporting structures to address the evolving roles of CIOs
    2. Cultivate change agents among CIOs and CFOs
    3. Measure — and reward — CIO performance according to business outcomes
    4. See ROI calculations as guides, not hard and fast requirements
    5. Implement clear milestones to monitor the progress of higher risk initiatives
    6. Turn the IT department into a consultancy

    When CIOs and CFOs are in sync, the biggest benefit according to the respondents is the ability to react more quickly to market changes (22%), attract new customers in current markets (16%) and more quickly introduce new products and services requested by the business (14%).

     There is a lot at stake with IT Transformation, but with closer collaboration between CIOs and CFOs, leading enterprises can turn it into a strategy for business success.

    If you’re interested in learning more about the relationship between CIOs and CFOs, and the impact it can have on IT Transformation, download the Forbes Insights report, “IT Transformation: Success Hinges on CIO/CFO Collaboration”.


    ENCLOSURE:https://blog.dellemc.com/uploads/2017/10/Billy-Goats-Lock-Horns-Fighting-1000×500.jpg
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    Should CISOs join CEOs in the C-suite?

    PCIS Support Team Leave a comment

    C-level executives have titles that begin with “chief.” But that doesn’t mean they all sit in the C-suite, which is reserved for CEOs and a select few others.

    Chief financial officers (CFOs) and chief operating officers (COOs) are the most common executives in the C-suite. They report to the CEO, attend board meetings, and fly 30,000 feet over their organizations for the big picture.

    Most CIOs, on the other hand, report to CFOs and COOs; they don’t sit in the C-suite. There are other next-generation chief titles that also haven’t crashed the boardroom yet.

    Chief information security officers (CISOs) are a unique C-level breed. Historically, they’ve been two-steps removed from CEOs, reporting to CIOs. But the times are a changin’ for CISOs, and they are starting to receive C-suite invitations.

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