IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Finance, HR and IT leaders working to close acceleration gap

By Catherine Knowles
Tue 10 May 2022

Workday has published the results of its latest digital transformation survey, which examines the impacts of the global pandemic on organisations' digital transformation efforts across three critical business functions: finance, human resources (HR), and information technology (IT).

In the report titled 'Closing the Acceleration Gap: Toward Sustainable Digital Transformation', Workday sought to understand the pace of digital transformation over the course of the past two years and the biggest barriers to success.

The findings revealed that while finance, HR and IT leaders recognise the importance of digital transformation, 55% of respondents say their digital strategy is always or often outpaced by the demands of the business.

As a result, the digital acceleration gap is widening, where business needs are changing faster than the technology, processes and culture required to keep pace.

In response, leaders are adopting a more sustained approach to transformation by prioritising access to data and employee experience, the researchers state.

To help close the acceleration gap, business leaders across the three functions are focusing on:

Finance leaders - unified, fast data: More than half of finance leaders (51%) say that one of the most important elements to accelerating planning, execution, and analysis cycles is new technologies that can help integrate data between disparate systems and break down internal data silos. Y

et, 61% say that technology that unifies financial, people, and operational data is their most pressing need, with 64% admitting that it takes weeks, or more, to get results at the end of a reporting period.

HR leaders - employee experience and skills development: Amid the Great Resignation, organisations increasingly focused on skills to help improve recruiting, retention, and overall employee experiences.

According to the survey, 25% of HR leaders rank resilience and adaptability first among skills that will ensure teams can continuously meet business demands as they evolve. Further, 50% of HR leaders say positive employee experiences are most important to accelerating transformation across the business.

IT leaders - breaking down silos to drive automation: While CIOs hold the key to data-fuelled transformation, many are overwhelmed by the pace of change as legacy constraints and data silos are top barriers to digital transformation, according to the survey. Only 42% of IT leaders are confident in their teams' ability to adopt cloud technologies without legacy constraints.

Further, half of IT leaders (50%) are struggling to keep pace with service upgrades as part of legacy technology, with 59% saying it can take weeks or months to change an automated business process.

Workday chief strategy officer Pete Schlampp says, "Digital transformation is no longer a choice - it's necessary to keep pace in today's changing world. Yet, as the study shows, there's an acceleration gap organisations need to address to help ensure their digital journeys keep pace with the growing and evolving demands of their business.

"We're encouraged that global finance, HR, and IT leaders are taking a more measured approach to their transformation strategies by leveraging technology, like Workday, that drives adaptability across their business."

Workday surveyed 1,150 senior business leaders across 13 industries to understand the impact of digital transformation on three core business functions: finance, HR and IT. This research took place between August and November 2021.

Related stories
Top stories
Story image
TUANZ
TUANZ to address rural connectivity at 2022 symposium
TUANZ is hosting the Rural Connectivity Symposium for the first time in person since 2019, providing a forum to discuss the state of rural connectivity.
Story image
Malware
Fortinet introduces self-learning AI in latest offering
Fortinet is introducing self-learning AI capabilities in its new network detection and response offering, FortiNDR.
Story image
Cybercrime
The ups and downs and runarounds of catching cybercriminals
We're becoming more and more aware of cybercrimes but how many criminals actually get caught? The New Zealand police explain why the answer is complicated.
Story image
Informatica
Informatica, Oracle enter strategic global cloud partnership
Oracle named Informatica as a preferred partner for enterprise cloud data integration and data governance for data warehouse and lakehouse solutions on OCI. 
Story image
Multi Cloud
Red Hat updates dev tools, empowers use of hybrid and multicloud
Red Hat has unveiled updates across its portfolio of developer tools, designed to help organisations build and deliver applications faster.
Story image
Identity and Access Management
The post-pandemic workforce requires secure IAM capabilities
HID Global discusses what identity and access management means for organisations in today's convoluted digital world.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Sustainability
SoftIron named global leader for efficient DC infrastructure solutions
SoftIron has been named a global leader for supplying energy-efficient data infrastructure solutions for core-to-edge data centers after an assessment by Earth Capital Ltd.
Story image
CrescoData
SPS network now available to CrescoData eCommerce customers
CrescoData, a Pitney Bowes Company and PaaS business in the commerce space, says its customers can now connect to the SPS Commerce Retail Network.
Story image
MEC
MEC spending for private cellular networks to reach $5.8b
A new ABI Research report finds the revenue for Multi Access Edge Compute (MEC) deployments for private cellular networks will reach USD$5.8 billion by 2030.
Story image
Infosys
Consumer relationships with digital services continues to change
Two years of pandemic-induced reliance on technology for work has altered our relationship with digital apps and services, new research has found.
Story image
Cyber attacks
Devastating cyber attacks expected to hit energy sector
Energy executives anticipate life, property, and environment-compromising cyber attacks on the sector within the next two years.
Story image
Digital Transformation
Digital transformation increasing business complexities
A new survey suggests businesses must re-examine their digital transformation approach to better help employees adapt to change.
Story image
Red Sift
Entrust expands strategic partnership with Red Sift
Entrust has expanded its strategic partnership with Red Sift to make it easier for businesses to adopt Brand Indicators for Message Identification (BIMI) standards for email identification and security.
Story image
Digital Marketing
Getty Images delves into the world of NFTs with Candy Digital
Getty Images and Candy Digital, the next-generation digital collectible company, have announced a new multi-year partnership agreement.
Story image
Cybersecurity
What every CISO must answer to enable a best-in-class security operations program
It has been widely reported recently that South Australian government employees have been the victims of a cyberattack.
Story image
Microsoft
Microsoft, Cloudian partnership offers data center flexibility
Cloudian’s HyperStore object storage platform is now integrated and validated to work with Microsoft SQ Server 2022, offering more flexible and scalable data centers.
Story image
Ransomware
CERT NZ releases first Cyber Security Insights for 2022
CERT NZ has released Quarter One: Cyber Security Insights 2022, which offers an overview of reports about cybersecurity incidents affecting New Zealanders.
Story image
Rackspace
Skills shortages hold orgs back from capitalising on cloud 2.0
Organisations are becoming more comfortable with sophisticated 'cloud 2.0' technologies, even as they confront difficulties in hiring and retaining IT talent.
Story image
Microsoft
Microsoft previews Power Platform website design offering
Microsoft has announced the preview of Power Pages, the fifth product in its Power Platform family, designed for low-code makers and professional developers.
Story image
Vectra AI
Vectra’s inaugural Partner of the Year Awards revealed
APAC companies Baidam, Firmus, ShellSoft and Macnica have been recognised in Vectra AI's inaugural Partner of the Year Awards.
Story image
DaaS
NetApp launches Spot PC, a new Desktop-as-a-Service solution
This is a new managed cloud DaaS solution with security, automation, observability and optimisation capabilities, designed for the needs of today.
Story image
Digital Transformation
Harnessing digital innovations to maximise loyalty programmes and improve CX
When it comes to the retail sector, merchants have never had access to so many different client touchpoints and data to understand their customers better.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Ransomware
APAC organisations fail to disclose ransomware breaches
85% of organisations in APAC were breached by ransomware at least once in the past five years, but only 28% publicly disclosed the incident.
Story image
Check Point
Check Point and CCTV expert join forces to boost protection
The partnership will involve Check Point Quantum IoT Protect Nano Agent being embedded in Provision-ISR’s CCTV cameras for on-device runtime protection.
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Managed service provider
Barracuda MSP Day 2022 highlights MSP opportunities
Barracuda Networks has released a report showing global services-related MSP revenue is set to increase by more than a third in 2022 compared to 2021.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
SaaS
The paradox of change, and how to get around it
The business decision to technologically transform should not come from an IT department but from the business itself.
Story image
Alteryx
Alteryx releases updates, empowers data insights for enterprise
Alteryx has released new advancements designed to aid enterprises with cloud analytics, democratise insights and ensure data governance.
Story image
Surveillance
i-PRO releases smallest AI-based surveillance camera on the market
The new i-PRO mini network camera is now available, with a pocket-sized form factor and full AI analytics functionality.
Story image
Digital Marketing
Similarweb acquires SEO and rank tracking company Rank Ranger
Digital intelligence company Similarweb, which specialises in analysing web traffic, has acquired Rank Ranger, a market leader in SEO and rank tracking.
Story image
Microsoft
Elevation of Privilege the top 2021 Microsoft vulnerability
BeyondTrust has released its 2022 Microsoft Vulnerabilities Report, finding that Elevation of Privilege is the top vulnerability category for the second consecutive year.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Kubernetes
Sysdig unveils new Kubernetes troubleshooting and cloud innovations
Sysdig has introduced two new innovations that look to help bolster cloud services and simplify Kubernetes troubleshooting.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
Training
Infosec unveils role-guided cybersecurity training roadmaps
Infosec Skills Roles maps hands-on training and certifications to the 12 most in-demand cybersecurity roles to maximise training efficiency.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Data Protection
Information management capabilities to meet privacy requirements
Organisations with customers or operations across more than one country face a spate of new and proposed privacy and data protection laws.
Story image
Chorus
Chorus and Nokia launches first trial of 25G PON broadband
Chorus and Nokia have announced the successful demonstration of 25 gigabit per second fibre (Gbps) broadband technology at the Chorus Fibre Lab in Auckland. 
Story image
Cybersecurity
Accenture - a collective security approach a driving factor for cyber resilience
With the approaching Davos World Economic Forum upon us, it is even more imperative to discuss the impact of cybersecurity on business operations leading into the future.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.