How can CIOs and CFOs work more closely together?

Lauren:
The obvious answer would be yes, if for no other reason than to ensure there is effective cross-functional communication occurring within the organization.

Maybe a better re-wording of your question should be “What are some ways that CIO’s and CFO’s can work more effectively together?” To this new question, I would use the metaphor of “one hand washes the other”. The CFO will be more knowledgeable about the financial status of the company (P/L, balance sheet, cash flow) and can provide guidance regarding current and future spending as it relates to the organization and, more specifically, to IT projects. Conversely, the CIO will be more knowledgeable about IT systems and their impact on the organization, both now and in the future. With the prevalence of ERP systems like SAP, Oracle, and PeopleSoft; the growing momentum of cloud computing functionality, and the efficient use of intranets, the CIO can use his skills to aid the CFO in helping to run a more cost efficient organization.

I would add that such interaction should be occurring between all functional groups within a company – the collective good will improve.