Latest News  

Accenture: Nearly half of CFOs believe digital technologies change everything finance does

According to the latest Accenture Strategy study, digital puts real-time decision making in a CFO's hands like nothing else before it, with 48 percent of finance executives believing that digital technologies will fundamentally change everything finance does.

2017-03-08 18:19:06

As digital swiftly inches its way to the top of the CFO agenda, CFOs are incorporating digital into their organizations at large, driving transformational change. The Accenture Strategy study, "CFOs Are the New Digital Apostles," shows that one-in-four companies are realizing greater than expected returns from digital, and a whopping 82 percent are seeing measureable business Return On Investment (ROI) from digital finance investments.

"Today's CFOs are embracing digital more than ever. It is much more than social, mobile and analytics, they are increasingly relying on digital for security threat intelligence, blockchain and artificial intelligence too," said David Axson, Managing Director, Accenture Strategy, CFO & Enterprise Value. "Those that are moving beyond single-point applications to enterprise-wide digital deployment are seeing greater than expected ROIs across the board."

Digital is currently delivering improvement in professional staff productivity, and could soon make monthly and quarterly management reports a quaint relic of a bygone time. About one-third of all digital technologies have delivered transformational benefits to firms with cycle time reduction (37 percent) and finance staff productivity improvement (36 percent) being the top benefits.

The study did highlight a few barriers – the greatest being the level of investment required for digital technologies (18 percent) and hiring talent that has the required skills to implement and operate the new technologies (16 percent).

Preparing for a digital world
Switching to digital can seem daunting, especially for CFOs who have shied away from IT-related matters. Over one-third of respondents believe their organization is leading competitors in digital technology adoption – however not all companies are there yet. Here are a few suggestions to help the transition:

1. Move beyond Digital Lite. Digital is more than social, mobile, analytics and cloud. If your organization is not addressing blockchain, artificial intelligence, security intelligence and robotic process automation – at a minimum – you are already behind.
2. Remove your cost and productivity lens. Think total investment value. Align digital finance strategy with business strategy.
3. Make decisions differently. Digital is not an overlay. It changes the way your business operates – and the way your teams must make decisions. Put the right talent in place and allow them to utilize digital as a bedrock of the business to deliver maximum results.

Accenture Strategy's "CFOs Are the New Digital Apostles" report is based on the findings from a global online survey of Chief Financial Officers which explored Digital Adoption in Finance in organizations with yearly revenues greater than $1 billion USD in Australia, Brazil, France, Germany, Japan, the UK and the US. The survey was conducted during August and September 2016 and covered various Industries, namely: Banking, Insurance, Life Sciences, Consumer Goods & Services, Automotive, Industrial, Infrastructure & Travel, Energy and Communications, Media & Technology.


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
RPA solutions developer UiPath gets 30 million dollars financing from Accel Partners

Romanian start-up UiPath specializing in in robotic process automation announced it secured a 30 million dollars' worth financing from US venture capital firm Accel Partners.

 Read Full article »
Accace Romania − BPO digitization activities and 30 per cent increase in revenues in 2016

Accace, one of the leading outsourcing and consultancy services providers in Central and Eastern Europe, recorded a 30 per cent increase in turnover on the Romanian market in 2016.

 Read Full article »
Horatiu Cocheci and Nicoleta Dumitru join People's Advisory Services of EY Romania

Horatiu Cocheci and Nicoleta Dumitru, consultants with experience in human capital, join People's Advisory Services of EY Romania as Director and Senior Manager, a company release says.

 Read Full article »
Bittnet Systems plans merger with Gecad Net

IT&C solutions provider Bittnet Systems announced it plans to merge with Gecad Net with the goal to consolidate its position within multicloud area, according to representatives of Bittnet Systems.

 Read Full article »
Dedeman to implement Sap solutions for more efficient internal communication and employee management

Local retailer Dedeman will use SAP SucessFactors solution in order to get its recruiting, internal communication and training programs to a more efficient scale. The program will be used to manager over 9.000

 Read Full article »
EY: Global mining and metals sector faces digital disconnect

According to latest report of EY regarding the digital transformation in mining and metal sector globally, 15 percent of survey respondents say digital isn't on the agenda in their organization.

 Read Full article »
ABSL presents the 3rd edition of Iasi Business Mixer on 25th of April

The Association of Business Service Leaders in Romania (ABSL Romania), the organization that represents the local business services sector, will host the 3rd edition of the most important event dedicated to the

 Read Full article »
French energy operator Total opened support services center at Bucharest

Total, one of the largest major integrated oil and gas companies in the world, with activities in more than 130 countries and 98.000 employees opened a corporate support services center at Bucharest in March th

 Read Full article »
Accenture Report: Banks show confidence in cybersecurity but lack real-world testing

Many senior bank executives are confident about their cybersecurity strategy, yet a lack of comprehensive, practical testing is leaving gaps in their defense, according to a new report from Accenture.

 Read Full article »
Computaris reports positive 2016 results and outlook for 2017

Computaris International Ltd., specialized provider of software development and system integration services for software vendors and communication service providers, reports positive 2016 results and outlook

 Read Full article »
 
MOST RECENT VIDEO
 
 
MOST READ ARTICLES
» Yonder: The first Dutch company in Clu...
» RPA solutions developer UiPath gets 30...
» ABSL presents the 3rd edition of Iasi ...
» Accace Romania − BPO digitization ac...
» Fintech for the aging population: What...
» Grégoire Vigroux appointed the new Vi...
» Stefanini plans 25 per cent growth of ...
» JLL: Romania will finish this year pro...
» TELUS International Europe: Three cons...
» TELUS International Europe: How to def...
 
EDITOR CHOICE
Romanian Outsourcing Awards for Excellence designates the industry winners on May 11

Outsourcing Today, the integrated communication platform of the business services sector, presents the Third Edition of the annual Romanian

 Read Full article »
TELUS International Europe: More proactive, personalized customer experience, thanks to the Internet of Things (IoT)

Industry research is apt to say we're on the cusp of a future full of "smart" devices — that is, billions of everyday items embedded with wireless internet connectivity

 Read Full article »
Romanian Outsourcing Summit: Focus on the added-value of business shared services in Romania

This year's edition of Romanian Outsourcing Summit joined representatives of the government and top representatives of leading companies operating in the sector of business shared services and related industrie

 Read Full article »
Romanian Outsourcing Summit reaches its third edition

OUTSOURCING TODAY, the integrated communication platform of the business services sector, powered by The Diplomat Bucharest, presents the Third Edition of the ROMANIAN OUTSOURCING SUMMIT on March 23rd 2017, at

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events