Rising inflation, recession fears, lingering and resurfacing impacts from the COVID-19 pandemic, demands to increase sustainability, and finance and IT executives’ growing importance in setting company’s digital transformation strategy are forcing them to increase the efficiency in their functional and organizational tasks.
“Apart from revenue growth, 47% of global finance and IT leaders in large organizations agree that increasing functional efficiency is the strategic priority in the next 2 years.”
According to a recent study conducted by Oxford Economics and SAP Concur, automation is the most common technology to drive efficiency and productivity. However, basic business process automation and its capabilities are simply table stakes. To maximize the automation advantages, businesses must use more advanced, intelligent technologies such as AI and machine learning, and embed those technologies into their existing process to unlock larger, competitive efficiency gains.
“Nearly three-quarters of executives agree that the increased use of AI and machine learning provide opportunity to increase efficiency and productivity.”
Download the full Oxford Economics Global report, Becoming more efficient: How finance and IT are leading the way, to get the full global research findings.