CFOs Poised to Boost US GDP by $2 Trillion

CFOs Poised to Boost US GDP by $2 Trillion

New research explores the role of finance to power US productivity using cloud services and emerging technologies.

How CFOs Can Lead the Coming Productivity Boom

Cloud services are poised to boost US GDP by $2 trillion over the next decade, according to new research commissioned by Oracle—but not every firm will benefit. In Intelligent Finance: How CFOs Can Lead the Coming Productivity Boom, Dr. Michael Mandel, senior fellow at the Mack Institute for Innovation Management at the Wharton School, shares how finance leaders across industries can help their organizations benefit from the coming wave of US productivity using cloud services—and the emerging technologies and global best practices they deliver.

There is a widening productivity gap between top industry performers and everyone else.

Dr. Mandel explains why these “frontier firms” keep pulling ahead and what this means for companies in both high-productivity and low-productivity industries.

CFOs now face a fork in the road: They can either fall further behind those on the digital frontier or boost their competitiveness by investing in cloud-enabled technologies that can deliver bottom- and top-line growth.

By diffusing advanced technologies and best practices across industries, cloud services are helping to power a projected $2 trillion increase in US GDP over the next decade.

Now more than ever, CFOs are in the driver’s seat, championing cloud services, as well as technologies that will help accelerate this growth, such as:

  • Artificial intelligence (AI)
  • Machine learning
  • Intelligent process automation
  • Cognitive computing
  • Blockchain
  • Internet of Things (IoT)

Modern CFOs now play a more influential role in technology decisions and broader business initiatives. It’s up to them to lead their firms to a more promising digital future.

For the research, Dr. Mandel combined US economic data with case studies from both high- and low-productivity industries to quantify the impact of cloud services, advanced technologies, and best practices. The case studies explore how CFOs and their C-suite peers leverage cloud services to:

  • Boost competitiveness
  • Improve efficiencies
  • Embrace innovation
  • Respond quickly to trends and market conditions

More Insights from the Report

Hear from the Expert Behind the Research

Dr. Mandel discusses key research findings, including why CFOs are tomorrow’s leaders in driving productivity growth.

Dr. Mandel discusses key research findings, including why CFOs are tomorrow’s leaders in driving productivity growth.

Discover how three organizations are leveraging cloud services to boost productivity and competitiveness.

Discover how three organizations are leveraging cloud services to boost productivity and competitiveness.

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CFO Survival Checklist

Uncover five ways finance teams can prepare their firms to keep pace with frontier firms.

Uncover five ways finance teams can prepare their firms to keep pace with frontier firms.

Top Research Findings

Download the report, Intelligent Finance: How CFOs Can Lead the Coming Productivity Boom, to access the latest thinking on CFO strategies, emerging technologies, and digital productivity.

Among the top research findings:

  • Cloud services enable companies to close the productivity gap with frontier firms. As a result, enterprises that shift to cloud services can get a sustained gain in productivity rather than a one-time bump.
  • Cloud services can radically improve the productivity of the finance function by accelerating the diffusion of new best practices that are emerging around technologies like blockchain, artificial intelligence, and machine learning.
  • Cloud services allow for the cross-pollination of best practices from high-productivity to low-productivity organizations. This allows higher education or healthcare institutions, for example, to adopt modern marketing techniques to improve performance.
  • Cloud services are a potent force for addressing inequality. It is critical that gains from information technology and new innovations spread out from the frontier firms and industries to the rest of the economy, so that nobody gets left behind.