Digital Transformation a Top Priority for Finance in 2023

Corporate finance leaders expect to remain focused on digital transformation in 2023 to address recession, inflation, geopolitical turmoil and talent shortages, according to the 2023 CFO Agenda research from The Hackett Group . Other top priorities for the year include providing support for growth strategies, better preparedness for issues they cannot control, improving business partnering and enhancing finance agility, the research found. In addition, the research from The Hackett Group ® found that finance executives will need to do more with less in 2023 and are counting on technology investments to mitigate the gaps. The study also found significant disconnects between top finance transformation priorities, plans for major initiatives, and executives’ confidence in their ability to deliver results. The research found that nearly 75% of companies have a major finance initiative addressing the top priority of digital transformation. But fewer than a third of all organizations have a major finance initiative aligned with any of the other nine top priorities identified in the study. Finance executives also expressed a low degree of confidence in their ability to meet business objectives in several priority areas, including the ability to retain the right skills and talent (60% low confidence), the ability […]

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