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Time to prioritise financial digital transformation

07 November 2022 / Peter Boerhof
Issue: 4864 / Categories: Comment & Analysis , digital strategy , Business
Digital priority

Despite the global turbulence caused by the pandemic continuing supply chain issues and a perilous geopolitical environment business is booming. The digital revolution was already underway long before Covid-19 struck but if there can be one positive that came from the pandemic it’s that digital transformation has become a priority for many businesses.

We recently surveyed 730 financial decision-makers in businesses that sell their goods and services online to understand more about their growth ambitions. The research shows that a major factor holding back business expansion is failure to optimise key financial processes. Slow and laborious manual or ineffective digital financial processes have the potential to hinder growth plans with 75% of UK and Northern Ireland e-commerce businesses admitting to being nowhere near completion of their plans to optimise their key finance and VAT management processes. They still have a long way to go to match...

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