Increasing budgets and opportunity development
Survey respondents also cited that the United States and Canada offer the greatest opportunities for growth over the next two years. Research also shows that consumer market companies believe mobile technology will be the key driver to maximize sales over the next two years.
Yet while mobile technology does help drive customer engagement and sales, there are also business risks involved when deploying transactions via mobile technology—a factor that some may need to take into consideration.
“Mobile does indeed bring as many new risks as opportunities,” confirmed Penfold. “Increasingly, organizations are recognizing that they need to enhance security measures over new digital channels. This means fighting fire with fire—using the latest technology and tools to help prevent security breaches. Yet, with 100-percent-security-guaranteed difficult to achieve, it is also more important than ever that organizations invest in detection and monitoring in addition to prevention methods. Speed of response in mitigating financial, reputational and operational losses in a world of fast-moving social media cannot be overlooked. If an organization's supply chain is compromised and it goes undetected, the first they might hear of it is on Twitter or Facebook.”
Other report findings
- Emerging markets will provide the biggest opportunity for growth, with expected growth for 2012 rising to 6.1 percent compared to 1.9 percent for developed economies
- Sustainability strategies are a must-have for many business organizations, with as many as eight in 10 consumer goods firms implementing such initiatives
- Consumer companies are building partnerships and outsourcing arrangements instead of investing heavily in fixed assets
- Mobile solutions (40 percent), Customer Relationship Management (31 percent) and business intelligence (20 percent) top the technology must-have list for sales maximization
Whatever initiatives your company decides to take to grow your brand—whether through technology adoption, sustainable efforts, in developing or emerging markets or all of the above—there are numerous deciding factors that come into play for chief financial officers. Read the full report at http://bit.ly/zR3dT7.
Information included in this article is not all-inclusive of the KPMG report findings.