Build a compelling business case
In one of my Board roles, the tech leader, I recall, had a clear ask. He presented the Board with a clear timeline, with an ROI and the payback period. It got approved. I’ve since coached CIOs to think in those terms: the ask must be frameable in financial language, such as total cost of ownership (TCO), internal rate of return (IRR), payback period, etc., not just technical merit.
According to TechTarget, CIOs working under CFO oversight need business cases that translate into straightforward financial justification.
Action: For each major cost you identify, show the offsetting benefit (reduced cost, new revenue, risk mitigation, etc.). Include scenario modelling (base case, optimistic case). Commit to tracking outcomes. If required, educate Board members on the impact of the proposed tech initiative.
