Are you thinking like a CFO?

It's no longer good enough for you to think like a CIO. In these challenging times, every CIO has to think beyond the IT model and look to the money, according to an article from CIOupdate.com.

Every new IT project has a variety of questions to answer before heading to the starting gate. Chief among them are how will it impact the company's cash flow and how will it impact sales?

One of the biggest challenges for CIOs is to make sure the cash flow stays solvent. Before signing off on a new project, make sure it brings in money, rather than choking it off, according to CIOupdate.com.

Like a CFO, a CIO must remain cautious about plans. Ask if there are cheaper ways to handle the project such as outsourcing. Find out if it can be delayed. Don't just spend the money without knowing for sure what the benefits are. And evaluate how a technology project will affect cash flow for up to 24 months.

You know the drill. But make sure the lessons you have learned in the last year of austerity will be applied across the board to make your IT shop sing not sting from the pain of not enough planning.

For more on CFO behavior:
- see this CIOupdate.com article

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