By Andreas Marathovouniotis
Only a fraction of finance functions at high-performing U.S. companies are actually future ready and are thriving in this new business environment. In fact, nearly two-thirds of organizations have struggled to implement their most forward-thinking priorities, such as investing in AI to reduce costs and drive efficiencies. However, the majority of finance organizations are well in tune with the requirements of the new reality: maintain traditional responsibilities and develop new capabilities to better support the business.
A new KPMG report, Future Ready Finance Global Survey: Learn what high-performing organizations are doing differently, finds that there is a stark contrast between high-performing finance organizations and their low-performing counterparts as they prepare for the future of finance. High-performing companies enjoy a success rate of 50 percent or more when it comes to executing on their most important imperatives, such as the deployment of next-generation automation and analytics technologies to provide critical insights to inform business decisions, and becoming a force for innovation within their enterprises.
“Future-ready finance groups are enabling better business decisions and driving enterprise performance by establishing digital-enabled service delivery models and driving the adoption of advanced analytics and automation technologies,” said Ron Walker, U.S. Leader of KPMG’s Finance Transformation practice. "With the increased technological, analytical and regulatory demands in finance functions, only future ready finance groups are equipped to deliver business solutions that successfully drive enterprise performance."
The study found a number of key contrasts between U.S. and global enterprises:
To learn more about the findings of the survey or to arrange an interview with KPMG’s Ron Walker, please contact Andreas Marathovouniotis.