Oxford Economics Global + Australia Report: Leadership in a New Era
How finance and IT leaders are guiding post-pandemic strategy
Finance and IT leaders face a different world in the approaching post-pandemic era. In addition to grappling with changes to their operations and processes, businesses will need to strategise in new ways, and success will depend on collaboration, visibility into spending, and building the infrastructure for an ever more connected world.
To understand how the pandemic has impacted finance and IT functions, Oxford Economics and the SAP Concur business unit of SAP recently surveyed 500 finance and IT leaders at companies with fewer than 1,000 employees. Their research, which spanned seven countries including Australia, uncovered key takeaways for both IT and finance leaders. This paper begins with global findings and then examine Australian results in depth.
Global finance and IT takeaways include:
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Finance and IT leaders are playing an increasingly strategic role as pandemic-driven operational changes persist and the pace of digital transformation. Complicating matters: collaboration between functions could use improvement.
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Uncertainty about the post-pandemic world lingers. Most companies made adjustments to day-to-day business processes, but many are unsure which ones will be permanent.
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Technology and culture pose dual threats. Respondents identify increasing agility as their top functional goal, but difficulties implementing changes to company culture and digitising manual operations are top challenges.
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Decision-makers are not using technology to its fullest potential. They face difficulty gaining visibility into spending, compliance challenges, and adapting to a hybrid working environment.
The past year has demonstrated that planning can only go so far. Companies must be able to move in real time to adopt new tools and technologies and collaborate effectively despite obstacles. This is a great opportunity and challenge facing finance and IT decision-makers today.
Download the full Oxford Economics Global + Australia Think Piece, Leadership in a New Era: How Finance and IT Leaders Are Guiding Post-Pandemic Strategy to get the full global research findings as well as results from their analysis of IT and finance leaders from Australia.
About Oxford Economics
Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international corporations, financial institutions, government organisations, and universities. Headquartered in Oxford, with offices around the world, we employ 400 staff, including 250 economists and analysts. Our best-in-class global economic and industry models and analytical tools give us an unmatched ability to forecast external market trends and assess their economic, social and business impact.
