How to Improve the Relationship Between Technology and Finance

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Focus on Results

The benefit of the technology should be the focus of your pitch. Qualitative forecasts absolutely have a place in this section, but be sure to include expected and specific quantitative results when possible. Finance views your proposal as a purchase and compares its importance against the other financial needs of the company.

Details and quantitative results are especially important for highly technical procurements. By fully explaining the benefits, you’ll be able to work past any misgivings that finance may have about not fully grasping what you’re asking for. After this information is laid out, transition to how the company will benefit, long term, from these changes. For example, a new server may allow for more flexibility with work location for current employees, allow for faster rendering of projects, and facilitate a higher level of productivity for remote workers with an improved remote experience.

Don’t forget to also look for any other benefits outside of the project – will it help with staff retention by giving them a more modern and desirable workflow? Will the new technology attract quality talent by marking the company as forward thinking?

Growing a technology company isn’t only about raising new capital – it’s about wisely spending the resources you already have. No company of any size is immune to this principle, not even Google, as evidenced by its hire of all-star, Wall Street vetted CFO Ruth Porat, to rein in the behemoth company’s spending.

Porat’s hire this year indicates that the technology industry’s spending practices are maturing. It’s no longer only about funding and the fireworks of innovation. It’s time to plan for sustainability and long-term growth, and prepare for the financial needs of the company for decades to come.

As finance re-establishes its role in today’s maturing businesses, it’s time for the technology team to make some new friends. That friendship relies on learning how to consider projects from the perspective of asset allocation. The conversation starts with the project pitch, but will also rely on the relationship you’ve built with the department. In this slideshow, Henner Schliebs, vice president, Head of Global Finance Audience Marketing at SAP, has outlined what will be on finance leaders' minds while they review your proposal.

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
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