Digitally Advanced Businesses Perform Better.

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The statistics: Where are we now?

Today's CFOs are at a digital crossroads. The stakes are high, and transformation is required. Here's a quick look at why:
93% of CFOs agree that the responsibility they’ve been entrusted with today feels much greater than in the past.
67% of CFOs feel paralyzed at times by the number of decisions and volume of choices they need to make.
95% of companies have only begun to apply digital technologies throughout the enterprise.
Mid-sized enterprises are spending on average $420,000 per year on their technology investment.
Digital latecomers are 8x more likely to have stagnant revenues vs digitally advanced firms
81% of digitally advanced firms are growing > 10% per annum

Obstacles

From financial constraints for those just starting their journey to the complexities of technology implementation and concerns about workforce adaptability, the path to digital maturity can be challenging.
23% of digital latecomers said the cost of technology is a barrier vs 4% of digitally advanced firms.
62% indicated implementing technology is the biggest obstacle.
42% stated they believe the ability of their staff to adapt is an obstacle.

The Future is now

At the core of today's business landscape is the drive for digital progression. The adaptation is challenging, but the ensuing benefits are transformational. Here are some ways to get started:
Make Decisions at Speed
Effective reinvention means making complicated, interrelated decisions at speed. Business complexity can be transformed into digital systems to drive greater value, providing CFOs and management teams real time forecasts and predictions so they can make the right call.
Use a Wider variety of Strategies
Digitally advanced businesses innovate more to differentiate themselves; launching new products, revising their strategic planning, or merging/ acquiring another company by a factor of 10x vs their digital latecomer peers.
Turn to the Cloud
Digital technologies continue to decrease in cost, while user experience continues to simplify. Cloud computing provides access to the latest technologies without having to invest in additional IT infrastructure or resources dedicated to maintenance and updates.
industries
Manufacturing
Unlock innovation to address capex spending, supply chain bottlenecks, and labor management. Align finance functions towards a common goal.
CPG & Retail
Cashflow visibility months out, no surprises. Plan inventory buys, develop sales strategies, and understand capital requirements.
Service Industries
Manage complex leads and lags in working capital and resources. Understand cashflow demands, manage projects, and adjust resourcing & headcount.

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