Digital transformation is a central focus of organizations that recognize its potential for helping them reshape business processes and get ahead of their competition. From improvements in productivity to enhancements in customer experience and subscription-based cloud applications, there are many facets to the benefits that an enterprise can experience.
In the finance sector, digital transformation is allowing enterprises to streamline operations and expand processes without hiring additional personnel. A reportpublished by the Financial Executives Research Foundation and Robert Half compiled the results of 1,700 responses to a survey of financial leaders on their perceptions of how digital transformation impacts their roles and their broader organizations. The survey included participants from both public and private organizations across the United States and Canada.
Over half (59%) of American respondents said they’ll be able to keep their staff size stable thanks to digital transformation. This is thanks to the automation of a variety of processes, including data collection, invoicing, report generation, compliance, and storage for documents. Many of these companies also have plans to automate areas like forecasting and financial planning in the near future.
A shortage of technical talent: Digital transformation also impacts staffing. Retaining technical staff is critical as organizations move to automate their financial processes, and there’s a definite push to implement engagement measures and pursue strategies that capture what’s important to employees and subsequently offer those benefits.
The greatest demand tends to be among candidates that have skills related to data analytics, with 19% of respondents indicating that this is the area they are often struggling to fill. Employees with experience in deploying enterprise resource planning (ERP) are the second most sought after. Other skills that are highly valued by financial organizations are those related to collaboration and communications.
Interim staff fills the gap: It’s common for financial enterprises to hire outside talent for a range of tasks, from everyday filing to consultants that can advise on system architecture and the best applications of data analytics. In the United States, 33% of financial leaders indicate that they have used interim staff, while in Canada 41% rely on interim assistance. The most common areas where temporary help is utilized is in accounts receivable, accounts payable and general accounting.
Technology streamlines processes for financial enterprises through digital transformation, but these organizations have a persistent gap when it comes to skilled strategy and communication to effectively mobilize the data that results from better processes.
Connecting financial enterprises with the right tools for digital transformation helps them move forward, improving performance, agility and productivity. To learn more, contact us at TeleConsult.
Reading the headlines a few years ago, it was easy to assume that, before long, enterprises would be making a sweeping, all-inclusive migration to the cloud. When they got a break from counting all the money they saved, the IT team may have a few tasks now and then, but cloud was largely going to change the way IT was done.
Enterprises are increasingly turning to the cloud for cost-effective data storage, but as the recent Equifax breach makes clear, data protection is still a critical topic for IT teams. While the cloud offers relief from daily backups and investment in servers for data storage, enterprises should not assume their data is safe.
If you’re a small business unprepared for a disaster, natural or otherwise, you’re leaving yourself open to a precarious situation in the future. An unforeseen event can have a large impact on your business and may even cause you to shut your doors for good. What can you do to build up a disaster recovery strategy that protects your data?
As public cloud use becomes more widespread, companies must address certain questions that surface with implementation. Security is often part of the discussion, with IT professionals tasked with reassuring line of business managers about the safety of storing data in the cloud.
Whenever company data needs to be transferred from one place to another, a series of questions should be answered, particularly in cloud-based migrations.
As data multiplies exponentially, companies are looking for low-cost solutions for storage of that data. Cloud storage technology is changing rapidly to meet demand, with developers creating storage options that are affordable and dynamic, handling various types of data with dexterity.
Optimized technology is currently on the market, and it’s there to assist you in adopting the best hardware and software to make you competitive in the digital era. Unfortunately, simply having the right tools doesn’t mean the outcomes are always positive. While the quest for highly optimized technologies is part of the process, just as important is the planning process that allows you to utilize tools in the most appropriate manner.
Many small and medium businesses (SMBs) are vulnerable to security threats. Whether they’re aware of the risks and know that they need improvements or they’re operating in blissful ignorance of the costs of a cybercrime, discussing security and data protection upgrades can be challenging. Many of these companies consider themselves a low priority target for attackers, or simply feel that their current antivirus is adequate protection against an attack. These businesses typically focus more thought on daily operations than on whether or not they are at risk for a data breach.
The efficiency and user-friendliness of a call center can directly impact a business’s customer acquisition and retention, especially in the age of social media where a company’s perceived approachability is a key part of its brand. Managers in call centers need to ensure that their employees are operating as well as they can. Following are five strategies for cultivating excellent customer service.