Welcome to the CFO EXCHANGE

Things move fast in today’s technology industry landscape, including within your own business environment.

The finance function’s broad scope and increased responsibilities mean that others consistently seek your insights to understand the competitive marketplace and prepare the organization for growth.

We hope this community will be a go-to resource to meet with an exclusive group of peers within the software industry to discuss challenges, exchange learnings, and remain current on trends.

If interested in joining or learning more about the CFO Exchange community, submit your information here.

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Industry Perspectives
2022 Technology Challenges

Regulatory changes &
Given the uncertainty about future regulatory changes, there is increasing concern about unknown regulations that may be on the horizon, which could impact the resiliency of TMT operations and the manner in which the group’s products and services are produced and delivered. Prudent technology organizations are investing time and resources to develop and build out their risk and compliance functions to prepare themselves for the inevitable increase in regulations that will impact the industry.
Industry organizations are becoming more proactive in implementing alternative labor strategies. This not only includes outsourcing non-core processes and activities and contracting with managed solutions providers, but also the deployment of increased automation and machine technologies, and a broad scope of flexible work arrangements that can be offered for skilled professionals around the world.
Sustaining customer
loyalty and retention
The pandemic has shocked many of the traditional forms of customer interactions. If organizations cannot adjust their operations, legacy IT infrastructure and digital capabilities, they may not meet the expectations of their core customers in a manner sufficient to retain their loyalty. Today's organizations are exploring how they can sustain customer loyalty and retention by increasing profitability through superior top-line performance and reduced marketing costs and other costs associated with educating new customers.
Cybersecurity &
data privacy
Cybersecurity is a moving target as innovative digital transformation initiatives, cloud and emerging technologies continue to outpace the security protections many companies have in place. There are two categories of organizations — those that know they have been breached and those that have been breached but don’t know it yet. Tech companies are shifting focus to address how such events might interrupt core operations and/or damage the brand. Additionally, it is important to realize that challenges related to maintaining data privacy and securing identity protection extend beyond hackers gaining access to systems.
Reliance on third-party partners
Increased third-party risks arising from reliance on outsourcing and strategic sourcing arrangements, IT vendor contracts, and other partnerships/joint ventures to achieve operational goals may prevent technology companies from meeting organizational targets or impact brand image. In today’s ever changing and complex business environment, third-party risk management plays an increasingly critical role in enabling operations, supporting growth and reducing costs. Successful sourcing and procurement organizations address today’s needs and have the foresight to plan for tomorrow’s challenges and opportunities.
Adoption of digital technologies
The adoption of digital technologies, such as those enabled by AI, robotics and natural language processing in their organizations, may require new skills that either are in short supply or require significant efforts to upskill and reskill existing employees. As the future world of work evolves, organizations need to optimize their mix of internal, contracted and interim human talent and electronic workers (machines and algorithms). Without access to the talent that understands the technologies and how they may be deployed, organizations may find themselves behind competitors who can react quickly to assimilate innovations into the business.
Reliability of supply chain
As companies work to compete in today’s business environment, their supply chains have become increasingly global and complex. Technology organizations are facing continuous and evolving disruptions in their supply chains including the viability of key suppliers, scarcity of supplies, volatile shipping and delivery options, and stable prices in the supply chain ecosystem making it difficult to deliver products or services at acceptable margins.
Economic conditions
impacting growth
COVID-19 has brought substantial uncertainty to today's environment, both domestically and internationally, and it all has executives on the edge of their seats wondering about an economic downturn. Resilient organizations are focusing on finance and operations business performance processes that will result in improvements to cash flow, control and optimization of costs, and risk management.
Rapid speed of disruptive innovations & new technologies
The rapid speed of disruptive innovations enabled by new and emerging technologies and/or other market forces may outpace an organization's ability to compete and/or manage the risk appropriately, without making significant changes to the business model. Most have been facing the risk of disruptive innovations for years and are proactively changing business models and adjusting long-term strategies to avoid being disrupted.
Ability to respond to &
recover from setbacks
Systems will fail, cyber-attacks will be successful, and pandemics will occur. Understanding how to minimize the impact of a disruption to external stakeholders and the broader economy, knowing where vulnerabilities lie, and developing foundational elements and operational resilience (e.g., cyber, business, third-party, and technology resilience) is important to help organizations recover more quickly and minimize customer harm.
Perspectives from Our Experts on Market Trends, Business
Developments and Risks
Cybersecurity and Data Privacy: 7 Challenges for CFOs to Address

Along with their peers in the C-suite, CFOs have treated cybersecurity and data privacy as top strategic priorities for several years. Increasingly, regulators are embracing a similar approach and CFOs need to take note and be ready Earlier this year, the U.S. Securities and Exchange Commission (SEC) proposed amendments to its rules on cybersecurity risk management, strategy, governance and...

Finding Stability and Opportunity Amid Economic Uncertainty

With the economic outlook constantly shifting as if it were a moving target, directors need to embrace change and set a tone of focus and confidence when looking to the future. It all starts with asking the right questions.Growth across the global economy is slowing. With the growth rate projected to shrink in 2022 and 2023 by half of what it was in 2021, business conditions have likewise declined. As the months go by, projections continue to worsen. Well-known factors...

How courageous companies thrive: Net positive thinking with Andrew Winston

2:30 - We have these really large shared challenges in the world — climate change and inequality being kind of the two mega challenges — and we can’t do it alone. Companies need to move in partnership and they need to be setting a higher ambition than just being a little less bad every year 4:15 - The issues that companies are expected to have a position on have expanded dramatically in the last few years. CEOs feel this pressure to say something about climate and inequality, but also about LGBTQ+...

Webinar | ESG and the Board: Balancing the Interests of Stakeholders

Stakeholder interests have driven more than 450 companies in the S&P 500 to make voluntary disclosures regarding environmental, social and governance (ESG) matters Whether the current form of the SEC’s rule or some alternative comes into effect, given such stakeholder interests, every public company and any private company looking to go public should consider their readiness to meet the reporting requirements of this rule as well as additional voluntary reporting regimes such as SASB, GRI and CDP...

A Hot Jobs Market Requires Organizations to Strengthen Talent Acquisition Strategies

Fierce competition among organizations for too few workers has created a job seeker’s market. Unemployment has remained at a historically low rate of 3.6% since the end of April, and employers were seeking to fill 11.5 million job openings as of the end of April after hiring 6.7 million during the month But for a temporary increase in unemployment due to the pandemic lockdowns, this is largely the labor environment that organizations have been operating in for the past five...

Future of Work: The Defining Business Challenge of the Next Decade

Protiviti and NC State University’s Enterprise Risk Management Initiative conducted a survey focused on the top risks occupying the minds of global boards of directors and executives. The survey highlighted 36 risk issues that were further analyzed for impact. While each risk presents unique opportunities and challenges, one key theme – the future of work – touches and spans the most significant risks for board members and executives...

About Protiviti
Who we are
Protiviti helps emerging, high-growth and established software and SaaS companies drive innovation with responsibility and talent.

We are a global consulting firm that delivers deep expertise, objective insights, a tailored approach, and unparalleled collaboration to help leaders confidently face the future. Our consulting solutions span critical business problems in technology, business process, analytics, risk, compliance, transactions, and internal audit.