To some extent, digital technologies are starting to be integrated into strategic decision-making. The overall message in the survey is that investments related to digital business will increase in all areas covered by the survey. The vast majority of the CFOs consider their finance team to be at least fairly well prepared for digital transformation.
Among the areas mentioned in the survey − improve processes, engaging talent across the workforce and drive new business models − approximately 70% of the CFOs state that digital technologies and capabilities are, to at least some extent, integrated in their company’s strategic decision-making. As for improve processes, TMT and Construction stand out with a rather high share of CFOs ranking their digital integration as higher.
Investments over the next 12 months
When it comes to investments in the context of digital – business or digital – transformation initiatives, the overall message is that it will increase in all areas. Organizational and business process improvements appears to be an area of high priority, with as many as 71% of CFOs expecting an increase – primarily driven by CFOs in the Business & Professional Services sector.
The Business & Professional Services sector stands out, with the majority expecting increased investments in all areas. Within Organization and business process improvements and Innovation capabilities, 100% of the CFOs expect increased investments. Financial Services and Construction stand out at the other extreme, expecting investments to stay at the same level as today. Hardly any of the CFOs expect digital investments to decrease.