Web 2.0 Requires Better IT-Finance Communications

February 28, 2008

Though it doesn’t use the name, this CNN story reporting on a Google initiative to help customers easily create glitzy multimedia-intensive websites really is talking about Web 2.0, one of the more common buzzwords of the past few months.

The sites, no doubt, will be be beneficial to businesses, especially small operations that can’t afford high level design help. On a deeper level, however, they raise all sorts of questions that must be jointly addressed by the IT and Finance departments.

The interactive nature of Web 2.0 platforms, for instance, present significant security challenges. Of course, it will be IT’s job to keep these dangers in check. However, it is important that the finance folks know the risks and how, if things go wrong, vulnerabilities inherent in these platforms can impact the bottom line. These challenges are purely technical (simply, there is more stuff to hack and crack) and social (the more interactivity there is, the more likely it is that an employee will be duped).

Security is only one challenge. There also are challenges of productivity. For instance, how can anyone be sure that the new sites are benefiting the organization? How can organizations track and manage the increase cross-departmental communications successful Web 2.0 sites are meant to stimulate?

The bottom line is that while Web 2.0 is really cool, there are a host of issues that must be addressed that sit smack on the line between IT and Finance. In the new world of the Web, all that glitters is not gold. And even applications and platforms that are valuable require a new means of assessment.

Posted by Carl · Filed Under Uncategorized