Leapfrogging innovation in emerging markets
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EY research indicates that companies across a broad spectrum of activities believe digital technologies have a particular capacity to unlock emerging markets.* CFOs in emerging markets — the people charged with ensuring the financial health of businesses — place even greater emphasis on better data than their peers in developed markets.
The rewards for those who get it right are immense, and can transform lives and countries.
This article examines how CFOs everywhere are increasingly involved in managing cybersecurity, establishing information management strategies and processes, digitizing the finance function and creating analytics-driven organizations. A strong relationship between the CIO and the CFO is increasingly critical to the health of any business — and the ability to grasp emerging opportunities.
We present some practical actions to help meet the challenges of this new digital environment, posing five key questions that CFOs in emerging markets should prioritize.
* EY’s Partnering for performance — Emerging markets perspective — Part 1: the CFO and the CIO, covering the evolving relationship between CFOs and CIOs, especially in emerging markets, showed that 71% of emerging market CFOs reported closer involvement in the IT function than three years ago. Read more at ey.com/em-cfo-and-cio, accessed March 2016.
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