As the integration of technology solutions continues to spread across organizations, collaboration between senior executives has become increasingly close. The trend is especially apparent among financial and technology leaders.
At the same time, some HCM technology vendors say both the financial and technology organizations are becoming more visible during purchasing discussions, which often works to HR’s benefit.
Some #HRTech vendors say financial and technology functions are becoming more visible during purchasing discussions. That often works to HR’s benefit. #HR #HRTribe Click To Tweet“Unlike a few years ago, we are finding that technology involving AI brings both the CIO to the table and funding into the conversation,” said Phenom People co-founder and CEO Mahe Bayireddi. He called the dynamic “a good thing for CHROs” because it often leads to additional funding for projects.
“CIOs understand more than ever that while AI technology brings innovation to recruiting and employee retention, it also boosts IT efficiency and benefits the entire organization,” Bayireddi said. “That’s a conversation they welcome and understand.”
Technology Drives Collaboration
According to Robert Half, 82 percent of CFOs now collaborate more with their company’s CIO than they did three years ago. Their top areas of collaboration are technology investments (56 percent) and business systems changes (52 percent), followed by staff technology training and cybersecurity (both at 45 percent). Thirty-nine percent of CFOs say they’re partnering with their technology counterparts on digital transformation efforts.
Tim Hird, an executive vice president at Robert Half, attributes the closer cooperation to advanced technology’s growing use. “It’s a business imperative for CFOs and CIOs to closely work together to consider the operational and financial issues of technology solutions,” he said.
Another EVP at Robert Half, John Reed, sounded a similar note. He said increased interaction between finance and IT staffs in general “builds awareness of operational challenges and needs, which often leads to more astute insights on best practices and solutions.”
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How HR Tech Opens Doors
This is a particularly point important to HCM vendors such as SAP, Oracle and Workday, which provide multi-functional solutions. Because HR touches every nook and cranny of the customer’s organization, HR tech can be something of a beachhead for a solution provider’s sales force. Besides the general workforce using self-service tools, HR products give these vendors a chance to expose their products and experience to decision-makers and influencers concerned with implementation, support, financing and procurement throughout the company.
Bayireddi sees evidence of that, as well. “CIOs and CHROs are now working much closer together than ever before,” he said. “[They] are critical for the successful purchase, implementation and even adoption of AI technology.” In some cases, he added, “we have even seen HR technology being completely funded by the CIO.”
All in all, this seems a welcome bit of news for HR leaders. Robert Half’s study stands in contrast to recent research from ISG, which showed HR is often all-but sidelined during discussions of workplace transformation.
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