Vivek Goel: Only 62% of CFOs concur that 94% of CIOs believe they fully comprehend how technology affects business finances. In addition to agreeing on the financial implications of technology, collaborative CFOs and CIOs also agree on the need for financial management to change to support business digitalization.
Vivek Goel,Speculators, analysts, and central banks diverge views on whether there will be a worldwide recession. Still, research from previous recessions shows that companies who invest aggressively in important projects during downturns expedite their recovery. These investment choices currently revolve entirely around digital.The « triple squeeze » on performance, which includes inflation, expensive and in-demand talent, and disrupted and constricted global suppliers, add challenges for corporate executives to today’s economic pressures. Furthermore, we would be mistaken to believe that the digital decisions we must currently make are more accessible because of the pandemic that pushed us to digitize.Create differentiation with digital It’s crucial to choose activities that will strengthen your competitive position as you face the triple squeeze head-on. You can, for instance: To permanently lower operating costs, automate processes. Enhance and automate tasks using technology like no-code and artificial intelligence or robotics to curtail labour costs, enhance output, and free up expensive, in-demand talent to concentrate on value-creating tasks.
