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Can CFO/CIO Frictions Torpedo IT Transformation Goals?

first_imgMost 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.https://www.youtube.com/watch?v=nnLkb__MJKoMany 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priorities of the two groups – although they also acknowledge that their own attitudes about the role of CIOs are outdated.An astounding 89% of senior executives surveyed acknowledge that significant barriers keep CIOs and CFOs from collaborating more closely on IT Transformation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:Update reporting structures to address the evolving roles of CIOsCultivate change agents among CIOs and CFOsMeasure — and reward — CIO performance according to business outcomesSee ROI calculations as guides, not hard and fast requirementsImplement clear milestones to monitor the progress of higher risk initiativesTurn the IT department into a consultancyWhen 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”.last_img read more

Total, Adani Green Energy form joint venture targeting India’s solar market

first_img FacebookTwitterLinkedInEmailPrint分享Renew Economy:French oil and gas giant Total has extended its reach into renewables this week, in a $US510 million deal with India’s Adani Group to help fast-track the roll-out of big solar across the sub-continent.The deal, announced by Total on Thursday, will create a 50/50 joint venture into which Adani Green Energy Limited (AGEL) will transfer its Indian solar assets already in operation. Those solar projects – each with around 25-year, fixed-rate power purchase agreements with national and regional electricity distributors – span across 11 Indian states and have a cumulative capacity of over 2GW.The new deal – Total and Adani already have joined forces in India’s natural gas market – marks another small step away from fossil fuels and towards clean energy development and generation by some of the world’s biggest energy heavyweights.Adani – which is still firmly attached to coal, including the massive carbon bomb it is developing in Queensland’s Galilee Basin – has grand plans for renewables, not least in Australia where it opened its first grid-scale PV project in October last year, also in Queensland.Total, too, has been trying to change its spots, with plans to contribute to the deployment of 25GW of renewable generation capacity by 2025. In Australia it has been active via offshoot Total Eren – a deep pocketed joint venture with Eren – which is the developer behind the massive 200MW Kiamal solar and battery storage project in Victoria.[Sophie Vorrath]More: Oil giant Total flexes renewable muscle with stake in Adani solar portfolio Total, Adani Green Energy form joint venture targeting India’s solar marketlast_img read more

Valamar Riviera awards for the seventh time in a row for the Share of the Year

first_imgToday, for the seventh time in a row, the Valamar Riviere dd share was declared the Share of the Year according to the public’s choice in the traditional choice of the Zagreb Stock Exchange. “It is a great honor for me to hold this valuable recognition in my hands for the seventh time in a row. Expectations of business results for this year are higher than last year, a year that was also a record for Valamar. Valamar continues to grow – this year we realized the acquisition of Hotel Makarska dd, and made the first step in the internationalization of our business by buying a hotel in Austria. The number of employees also grew to 6.600, we increased salaries by more than 11%, introduced a minimum net income of HRK 5.000, and created 2300 new jobs in the last three years. I believe that we have laid a good foundation for continuing to invest in the growth and development of our business. And I am proud that investors recognize Valamar’s potential and that the seventh award for the Share of the Year is already faithfully following us on the path to realizing our business vision, especially in the year when we marked the 65th anniversary of our business.” he said Marko Čižmek, member of the Management Board of Valamar Riviera when receiving the award.By the way, the Zagreb Stock Exchange award is given with the aim of supporting the best and strengthening the recognition of the capital market and its active participants among the financial and general public.”When we founded the Zagreb Stock Exchange Awards in 2012, we were guided by the desire to continuously identify and reward positive examples in our capital market. Over the years, these awards have become a tradition, which the winners often and gladly point out. This year, Valamar Riviera is a double laureate and since its founding has won a total of 10 awards in several categories, which is a clear message that the entire investment public recognizes and rewards excellence.” concluded Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange.Valamar’s total investments reached HRK 5 billion, of which HRK 4,3 billion was invested in raising the quality of hotels, resorts and camping resorts, and HRK 700 million in acquisitions and expansion.last_img read more