Insight

Business leaders must embrace disruptive technologies enterprise-wide

Every year, we release our U.S. CEO Outlook, based on a survey of 400 U.S. CEOs across all major industries and conversations with a dozen leading CEOs about the issues they face.

“Growing Pains,” our 2018 U.S. CEO Outlook report, revealed that CEOs are ardently pursuing growth and technology-driven disruption, fueled by confidence in both the U.S. economy and their own growth prospects. In this blog series, our professionals from different industries and groups weigh in on the implications of the survey results.

Our U.S. CEO Outlook survey revealed that 86% of CEOs consider their companies to be active disruptors compared with 72% last year. Additionally, almost all CEOs (98%) see technological disruption more as an opportunity than as a threat.

It’s clear that technology is going to continue to disrupt business. Consequently, CEOs must view technology as a core element of their organization—not just a separate business function. Technology must be a holistic effort—engrained in each individual and aligned with all business efforts.

Over the past few years I have seen how technology is completely disrupting tax. There has been a huge evolution in tax accounting software, with organizations investing through each upgrade in order to improve their processes and results. Now, the most efficiently run tax departments are taking it a step further by talking about using RPA and cognitive technologies, and aligning with future state processes. They see the value of these disruptive technologies and the positive impact that they can have on their businesses. Give it a few years and technology will be a core competency of leaders of tax departments—and most departments within an organization.

Ultimately, if tech isn’t approached holistically, from top to bottom and across the entire enterprise, the organization isn’t going to operate at top capability—but a competitor will be.

For more insights and data from leading CEOs and KPMG leaders, download the full “Growing Pains” 2018 U.S. CEO Outlook report here.