The Future of Finance: AI, Automation & Fintech
Technology is the plan.
Despite a roiling economy, most business leaders say their companies will grow this year, according to our just-released survey. Accompanying this positive outlook are plans to adopt more technology – even after the pandemic-induced “quantum leap” in tech adoption? – to combat staffing shortages and safeguard profitability.?
We asked, they answered.
In our quarterly survey, we polled 500 CFOs, other execs and managers at companies with under $250 million in annual revenue. What they had to say:
??71% of C-level execs say company growth prospects are better now than they were six months ago.
??36% of managers say inflation has caused leadership to ask for improved efficiency across teams.
??41% of the C-suite say their companies adopt technology as soon as it’s advantageous. Only 18% of VPs and directors say the same.
Prepping for profits.
That’s what most of our C-suite respondents are doing. Only 5% say profits will be lower this year than last, while 22% say profits will rise by 10% or more. So, what will they do with those earnings? Leaders are less bullish than usual, saying they plan to increase spend by 5% or less in most areas. However,? they still plan to spend on new tech, from cryptocurrency payment systems to AI for predictive analytics in demand planning.?
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We polled executives about 10 newer technologies, and half of them said that all 10 would be adopted at their companies in the next six months or are already in place.
The details on their current and planned use of mobile devices and automation, for example:
In addition to their plans for tech investment and outlooks for company growth, respondents also revealed their plans to boost efficiency in a time when talent is scarce and profitability is crucial.
?? Download the full report here. ??
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Save time with Memorized Journal Entries
There are plenty of ways to automate your business processes in NetSuite. The Memorize functionality, for example, provides a method of automating recurring transactions. You can choose whether the transaction should automatically post or if you’ll receive a reminder to post the transaction yourself.?
Of the many types of transactions that NetSuite can memorize, Journal Entries are among the most common. Once you have saved a Journal Entry, you may Edit the record and navigate to Actions > Memorize to set and review the specifications for the memorized entry, like Recurrence, Custom Dates and previously posted transactions.
For more on using Journal Entries in NetSuite, review the How Do I Manage Journal Entries? learning path in the NetSuite Learning Center.
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Oracle Principal Consultant Financial Specialist at Consyt IT & Business Management
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2 年Wow. 41% C Level to 18% VP level gap regarding adoption of technology. I wonder is this is a vision, expectation or execution gap. Daniel Perry Klugo.au
MICHA RAVE
2 年Rave Group LLC wishes all the best to NetSuite with a vision to see a better economic world and the state of Israel. [email protected]