Investments in digital will increase by 2023, even if inflation persists. The data show that eight out of ten CFOs (78%) plan to increase or maintain them.
According to a Gartner survey, consultants say that companies that make the right investments in the digital realm have 2.7 times higher customer retention, 1.6 times higher customer satisfaction rates and an average order value. 1.9 times higher.
The digital domain is growing
“Top digital companies are even three times more likely to earn revenue and profit margins than the industry average. We also found that 67% of consumers will pay more for a great digital experience, ”said Alexander Bant, head of research at Gartner Finance.
According to the study, 46% of respondents said they were expanding their digital plans. On the other hand, 32% said no changes were planned. The survey indicates that CFOs intend to accelerate the evolution of investments in digital transformation that were seriously launched at the beginning of the pandemic.
“Financial managers know how to never waste a crisis or a recession. It is time to reinvent ourselves, make better investments and reduce inefficiency, ”said Bant. “Winners on the other side of this cycle will continue to accelerate the right digital initiatives in their organization, even if there is growing pressure on profitability.”
CFOs’ growing focus on automation as an inflation mitigation strategy aligns with findings from the Gartner Financial Technology Innovation Survey, which surveyed financial leaders about their investment plans for certain financial technologies over the next two years. .
The data indicated a planned increase in investment in robotic process automation (RPA), automation of process reporting and extraction, key technologies for streamlining routine processes, and deploying staff to focus on higher value activities and increased productivity.