The technology behind the transformation

Technology is essential to acceleration, and its adoption is improving year on year, yet many organizations still aren’t doing enough to embrace it.

Improving processes and creating efficiencies is important for organizations, and many have adopted different tools to encourage this. With each type of technology, there has been a high level of adoption, which has been growing year on year.

But in each category, only a minority of respondents are confident that their organization has seen major, widespread adoption. This is a cause for concern because those who have seen a major adoption tend to report better business performance.

	Lowest major adoption by sector	Highest major adoption by sector
Cloud migration	Consumer services – 37%	Telecoms – 52%
Data management tools	Consumer services – 39%	Construction and property – 55%
Real-time reporting tools	Education – 28%	IT and technology – 45%
Workflow automation	Education – 17%	Telecoms – 50%
AI/machine learning	Education – 10%	Business and professional services – 37%

^{Source: The Business Future Index 2022}

_{Issues with financial management are common,

but financial technology looks set to be the answer.}

Finance is a critical function of any organization, yet most (87%) are challenged by the processes that underpin financial management. These challenges include the speed and agility of these processes, a lack of access to real-time data, and outdated processes and systems. Technology is generally seen as the natural answer to these challenges.

_{Source: The Business Future Index 2022}

This theme repeats specifically in the area of forecasting, with 89% of those involved in the process struggling to achieve the visibility and control necessary. Interestingly, technology isn’t seen as the natural answer in this instance. While collaboration is crucial for such an important cross-organization discipline, technology investments are also crucial.

_{Source: The Business Future Index 2022}