CFOs are Prepared to Use New Technology for Business Expansion

According to a new report of KPMG, business and finance leaders are turning back from the downturn with a new focus and hope on business growth and expansion with the help of new technology like portable devices.

According to KPMG and CFO Research, it is proved that now CFOs are planning to pay great attention on the expansion of business and new services, controlling their planning, analytical, and information capabilities. When many companies face the recession, and cut down on their technology spending, this renewed focus of business expansion comes.

The research also shows that many CFOs are considering new performance tools, consolidation of system, and cloud technology as a part of their enterprise expansion strategy. Many respondents of this survey are expecting to continue the use of mobile devices in their companies over the next two years. In spite of this, many CFOs are expecting to face the security challenges in their finance operations, when they will involve in dynamic technology environment.

The research also found that CFOs are at a turning point in their organization, and have to enhance influence their position as planned information leaders to convey these features of their procedures into sharper focus. About half of the CFOs investigations suffered their business technology stage is complex and duplicative, and that financial and performance information used for decision making is not as helpful as it should be.

The U.S. technology leader for management consulting of KPMG also agreed that CFOs are now accepting that these new technology expansions are very important in this fast moving world. Many companies are now realizing the use of mobile devices can bring a significant initiative in the growth and expansion of their businesses.

The relationship of CFOs with CIO organization is now more significant than ever, so CFOs are trying their level best to increase insight across the enterprise. This corporation can help a business become accustomed to the challenges of accepting innovative technology at a rapid speed while preserving investor value creation for the organization.