Finance Looks to Technology to Mitigate Productivity and Efficiency Gaps MIAMI & LONDON, March 14, 2023 –( BUSINESS WIRE )–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 , Inc. (NASDAQ: HCKT). 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 face budget and staffing shortfalls in 2023 and are counting on technology investments to mitigate the gaps. An expected 8% increase in workload, combined with an expected 1% reduction in head count and a 2% reduction in budget, will drive a productivity gap of 9% and an efficiency gap of 10%, roughly double the size of the gaps recorded in last year’s study. Finance technology spend is expected to increase by 5%, indicating a continued and growing reliance on technology to increase productivity, efficiency, and effectiveness. The study also found significant disconnects between top finance transformation priorities, plans for major initiatives […]
Hackett: Digital Transformation is a Leading Priority for Finance in 2023, As Companies Respond to the Global Economic Downturn
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