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Tech CFOs weigh recent industry impacts

Lessons from a Grant Thornton Insight Exchange

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IT engineer in the server room Amid the restrictions of COVID-19, the tech industry’s solutions have enabled collaboration and commerce that formed the backbone of society’s response. The industry has also learned some new lessons along the way. In a recent Grant Thornton Insight Exchange, CFOs from technology and telecommunications firms reflected on the effect of the past year’s impacts.

The increased importance of digitization, cloud technology and collaboration for remote work has helped the tech industry maintain comparatively strong revenue. However, most companies have experienced a balance of both struggles and strengths:

The balance of Impacts

During the insight exchange, CFOs highlighted a common ingredient that drove successful efficiency gains in their tax operations, finance operations, supply chain and other areas: Companies must ensure that they clearly understand and define (or re-define) their processes before designing those processes into streamlined solutions.

Contacts:

Steven Perkins Steve Perkins
National Technology Industry Leader
T +1 703 637 2830


Skip Braun Skip Braun
Partner, Assurance Services
T +1 732 516 5558


Dewayne Southern Dewayne Southern
Partner, Audit Services
T +1 919 881 2763


Jennifer Kerber Jennifer Kerber
Director, Advisory Services
T +1 703 637 3065