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
Businesses struggle to protect sensitive cloud data according to new Oracle and KPMG Cloud Threat Report

Despite defined security policies, eight in 10 organizations worry about employee compliance and four in 10 say detecting and responding to cloud security incidents is a top cyber security challenge

 Read Full article »
Next Generation Shared Services Roadshow at Bucharest: innovative solutions and best-practices in SSC industry

The series of Next Generation Shared Services Roadshow event organized by SSC Heroes and Kinnarps Kinnarps in four cities in Central and Eastern Europe, brought in April at Bucharest a strong panel of leaders i

 Read Full article »
Automation will change the labor market and skills landscape in Romania

A share of 81 per cent of Romanian employers globally say their headcount will increase or remain flat in the next two years because of automation, in line with the 86 per cent employers globally providing the

 Read Full article »
The most appreciated companies from the outsourcing industry, awarded at ABSL Gala 2018 Romania

The most appreciated companies in the outsourcing industry were awarded last night, at the ABSL Romania Awards Gala, a recent announcement of the company stated.

 Read Full article »
Cybersecurity Tech Accord: 34 leading companies sign pledge to fight cyberattacks to promise equal protection for customers worldwide

Companies across every layer of internet communication vow to defend against misuse of their technology; promise to protect all customers regardless of nationality, geography or attack motivation.

 Read Full article »
Accenture study finds 87 percent of focused cyberattacks are prevented

With ransomware and distributed denial of service (DDoS) attacks on the rise, the average number of focused cyberattacks per organization has more than doubled this year compared to the previous 12 months (232

 Read Full article »
Romanian software group expands to Bulgaria

Romanian group Global Technical Systems, which specializes in software development and providing technological solutions for building efficiency and security infrastructures, aims to double its turnover this ye

 Read Full article »
Vodafone Survey: Romanian youngsters would rather work for themselves, than for a company

Romania ranks first in terms of percentage of youngsters who would rather work for themselves/be an entrepreneur than for a company, with 51 percent expressing this preference, according to Vodafone survey.

 Read Full article »
Bucharest office market: Over 30 per cent of the demand came from the companies that moved from old buildings in modern projects

Companies have rented in the first quarter almost 70,000 square meters of office space in Bucharest, one third of the demand came from companies that formerly had its headquarters in old, small buildings or in

 Read Full article »
ABSL Romania: The Business Services sector has thousands of jobs available for young professionals

The Association of Business Service Leaders in Romania (ABSL) announces thousands of positions available for young professionals with little to entry-level experience in the business services sector. Accounting

 Read Full article »
 
 
MOST READ ARTICLES
» The most appreciated companies from th...
» Romanian software group expands to Bul...
» ROMANIAN OUTSOURCING AWARDS FOR EXCELL...
» Romanian Outsourcing & Shared Services...
» DTZ: Office demand outside Bucharest t...
» Romania, Europe's third and world's 13...
» Accenture study finds 87 percent of fo...
» Molson Coors started to grow its busin...
» Capgemini to open new office at Suceav...
» EXCLUSIVE: ABSL Timisoara - BPO and SS...
 
EDITOR CHOICE
Romanian Outsourcing & Shared Services Summit: In the search of the best strategy to stay relevant

Currently, according to companies operating in outsourcing and business shared services in Romania, there is an intense discussion regarding the availability of prepared workforce in the industry. Even if the c

 Read Full article »
Romanian Outsourcing & Shared Services Summit: The need for dialogue of stakeholders

On March 22nd, at Athénée Palace Hilton in Bucharest, the Fourth Edition of Romanian Outsourcing & Shared Services Summit hosted the annual get-together of professionals in outsourcing and business shared ser

 Read Full article »
The voting for The Brand of the Year 2018 in Outsourcing and Shared Services is now open!

Outsourcing Today presents the fourth edition of the annual Romanian Outsourcing & Shared Services Awards, the event that recognizes, rewards and celebrates the success of the most prominent companies acting in

 Read Full article »
Romanian Outsourcing & Shared Services Summit: The very definition of millennials is change

Adapting to future workforce trends whilst balancing intelligent automation, digitalization, and millennial teams was one of the most discussed topic of the second session of the Fourth Edition of Romanian Outs

 Read Full article »
Stefanini invests in AI and reinforces Sophie's capabilities

Recently, Stefanini announced it is reinforcing its investments in Sophie, an artificial intelligence platform with the ability to turn data into valuable solutions. Fully developed within Stefanini's research

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