CFOs plan to guard their digital investments as they reduce prices elsewhere within the enterprise, in keeping with latest surveys by Gartner, Inc. Amongst expertise priorities, CFOs have significantly prioritized back-office automation as a key to driving down prices within the face of ongoing inflation.

A July 2022 survey of 226 CFOs discovered that digital acceleration was the highest spending precedence for CFOs over the subsequent 12 months, with 98% of respondents saying they may defend digital investments and of these, 66% stating they plan to extend their investments within the class.

A separate survey of 128 CFOs and CEOs in June highlighted the actual areas inside expertise which are set to obtain probably the most funding: one third of respondents stated they may prioritize back-office automation applied sciences, the preferred selection amongst 13 totally different classes of potential expertise funding (see Determine 1).

“Automating back-office workflows is a key to attaining effectivity beneficial properties throughout numerous areas together with accounts payable, accounts receivable and inside IT providers, resembling helpdesk assist,” stated Randeep Rathindran, vice chairman, analysis within the Gartner Finance Observe. “In a cash-constrained surroundings, the place margins are below strain, the urgency to enhance productiveness in these areas is heightened.”