Facing a clash between IT and finance during a tech upgrade. How can you bridge the gap effectively?

A clear and concise charter for the project must be created and signed off by the project sponsor prior to launching the project. First step to kick off the project is to to socialize the charter with all stakeholders so that each contributor has clear understanding of the project and there is no ambiguity on scope, roles and responsibilities, project organization structure, objectives, timelines, budget, and so forth.

Differ we must because that brings out the best in all of us and keeps ego's in check. Sincerely try to understand the other parties point of view and where they are coming from. Communicate, communicate and communicate with all the parties involved. Put a schedule to meetings, updates and engagement from all parties as appropriate (steering committees or otherwise). Make sure everyone has skin in the game.

Set clear expectations from the start and create a solid budget with contingencies. Develop a flexible action plan with a timeline. Maintain constant communication, addressing any issues or challenges, and celebrate milestones as they are achieved.

I do not think a 'one-size-fits-all' approach will work, but establishing some key points with stakeholders will go a long way in understanding each group's needs: Have an approach that includes overall IT and finance priorities (improving efficiency, cost, and return on investment). Determine current challenges and gaps in both IT and finance. Establish common needs that impact improving performance and decreasing risk. Include data-driven results and metrics that impact both IT and financial systems to agree on what course of modernization takes priority. Identify short and long-term benefits, and create a recognition panel of success for both. And, don't be afraid to explore cost-effective alternative solutions as options.

Start by establishing clear, shared goals. Aligning both departments on the overarching objectives fosters a unified vision. When everyone understands the 'why' behind the upgrade, it’s easier to collaborate on the 'how.'

Technology is always changing hence the upgrades will never end. Hence, staff of both departments need to look on the business needs and align Technology to serve the strategic business objectives over a period of time. The upgrade should not be the objective by itself. I have seen many upgrades that achieve minimal results.

Focus on the benefits that the upgrade brings to the business, including the potential achievements. Additionally, consider the negative consequences of not upgrading, bring the big claim to the table before showing the costs

Encouraging open dialogue is key to bridging the gap between IT and finance. Create an environment where team members feel comfortable voicing concerns and ideas. Regular, transparent communication helps build trust and ensures that both sides are heard and understood, paving the way for effective collaboration.

Trouver des solutions de compromis est souvent nécessaire lorsque l’informatique et la finance ont des priorités différentes. Chercher des moyens de répondre aux besoins essentiels des deux départements sans compromettre le succès du projet. Par exemple, si les finances sont préoccupées par les co?ts, le service informatique pourrait explorer des stratégies de mise en ?uvre progressive pour répartir les dépenses. Par ailleurs, le service financier peut avoir besoin d’apprécier la valeur à long terme d’investir dans une technologie robuste qui peut avoir des co?ts initiaux plus élevés, mais qui offre une plus grande efficacité et des économies au fil du temps. Le compromis consiste à trouver un équilibre que tout le monde peut soutenir.

Joint planning is essential when navigating a tech upgrade involving IT and finance. By involving representatives from both departments in the planning process, you ensure that technical and financial perspectives are considered. This collaborative approach helps identify potential challenges early and develop cohesive solutions.

Both IT and Finance are working in their domains to achieve the organizational goals. Therefore, collaborative and adaptive planning shall help in reaching common grounds. Facts and figures should be considered in making a joint decision based on CBA, ROI, Productivity, etc.

IT is an internal function of any organisation and it will require a cost centre in order to be financially measured. Need to remember that effective finance is just as important as the IT Department. Finance controls spending and overall organisational budgets so it is important for Finance to be part of your solution and project and to operate as a team to be successful in completing your project. Consultation with Finance can only be advantageous and explaining to them how IT projects are being expensed will be a win win for all as they will endour to be part of the solution.

Les sessions de planification conjointes peuvent jouer un r?le déterminant dans l’alignement de l’informatique et de la finance. Réunissez des représentants des deux départements pour planifier la mise à niveau technologique étape par étape. Cette approche collaborative permet de s’assurer que les considérations financières sont intégrées dès le départ dans le processus de planification technique. Cela permet également au service informatique d’expliquer les aspects techniques d’une manière que la finance peut comprendre et apprécier. Ce processus de planification partagé permet d’éviter les conflits potentiels en veillant à ce que les deux services aient leur mot à dire dans la stratégie de mise à niveau.

Il est important de surveiller les progrès et d’ajuster les plans si nécessaire. Mettez en place des points de contr?le où le service informatique et le service financier peuvent examiner ensemble la progression de la mise à niveau. Profitez de ces occasions pour évaluer si le projet atteint les objectifs établis et respecte le budget. Si des problèmes surviennent, réglez-les rapidement et en collaboration. La surveillance continue permet de corriger le tir et de renforcer le partenariat entre l’informatique et la finance, en veillant à ce que la mise à niveau technologique reste sur la voie du succès.

Monitoring progress collectively ensures that both IT and finance stay aligned throughout the tech upgrade. Regular check-ins and progress reviews help keep everyone on track, allowing for adjustments as needed. This ongoing collaboration fosters accountability and keeps the project moving smoothly toward its goals.

A clash between IT and finance during a tech upgrade can be a hurdle, but it's a common one. Best practices include organizing a meeting with representatives from both IT and Finance. Let each team explain their concerns openly and honestly. Remind everyone of the project's overall objective: a successful tech upgrade. IT can translate technical jargon into business terms finance understands. Finance can explain their budgetary constraints and risk tolerance clearly. Financial reports and cost analysis can inform IT decisions, while IT can showcase data security and long-term ROI of the upgrade. By open communication, understanding each other's perspectives, and working towards mutually beneficial solutions, you can bridge the gap.

This should really come down to a return on risk calculation and a list of pros and cons of alternative solutions. Many times I have had to go with a 2nd best solution due to budget. Remember there are many ways to accomplish the same control within cybersecurity and many vendors offering similar solutions.