It's something I inherited from my father, who has led the finance and information technology departments at for 30 years. I didn't want an iPad until I saw what my dad could do with one! And from the time I started editing videos in a high school communications class, I've always been fascinated by technology and how to use it. Looking back on my career, in fact, -- much of it at John Deere -- was as Deere's project manager on a successful SAP implementation at our largest agricultural factory.
Actually, it's a good thing I enjoy tech -- because finance can't exist today without it. The new faces of finance have no choice but to understand technology, and how it improves the way we work. Our profession depends on improving efficiency and accuracy and technology is the driving force in that never-ending quest.
Not only are CFOs now embracing technology in increasing numbers, but they often are leading the information technology departments at their companies. A on CFOworld, picked up from sister-pub Computerworld, highlighted several leaders who are both chief financial officer and chief information officer.
This blog is the first of two that focus on how finance professionals must become technology leaders to become valued members of the executive team. Next week I'll look at benefits of leading your company's IT efforts from the finance group.
Three key developments highlight the need for finance professionals to become well-versed in technology.
* . While this may sound more like a new highway name in the Midwest -- it's an auditing standard is critical to cloud-based internal controls. SAS 70 regulates the auditing procedures for technology-based service organizations. In plain English, SAS 70 contains the internal control objectives to ensure that IT providers are protecting your off-site data. If you do not want your audit committee or CEO asking tough questions about cloud-based organizations, then you need to understand SAS 70 and determine if your suppliers have satisfied this standard's requirements.
* . I'll address the enjoyable parts of this tech trend next week. But it reflects how we're pulling more data from more sources, and developing more visual tools than ever before. We must know where our critical data lies and how to transform that data into easy-to-understand, visual decision tools for our executives.
* . I write many of my blog posts on an iPad, and I can access my company's data through my MacBook Pro, iPad, and even my wife's Gateway PC netbook. SAS 70 emphasizes the control of key data. But we must be able to access our data at any time and on many different devices. If information is the circulatory system of business, then we better have a way to receive our infusions wherever we are and with whatever tool we have.
This is one of my favorite topics, in part because as finance leaders we're the bridge between the business demands of IT and the technological constraints and opportunities that we must manage.
The risks of IT can bring a business to its knees, which is why finance will continue to take a key leadership role in future IT developments.