Seen as a low-risk way to boost operating efficiencies, cloud-based digital and data tools are capturing a significant amount of CEOs’ strategic spend. Fifty-three percent of CEOs participating in a recent BARC Research survey reported planning to invest in cloud-based predictive and advanced analytics tools, and 44 percent plan to invest in cloud-based operational planning and forecasting tools.
Companies like BlackLine, which has inked subscriptions with more than 90 different cloud vendors, view the cloud-based solutions as a way to boost operating efficiencies without committing to a huge IT spend. “Because the cloud is a subscription service, if you need to cut back you can,” explains CEO Therese Tucker. “The efficiencies are tremendous. Something as simple as automating the reconciliation of bank accounts is easily done, freeing accountants from these labor-intensive tasks to focus on more value-added contributions—like bringing to light mistakes in the numbers that could result in a financial restatement.”
“the reality is that most industries are doing digital to drive down costs and make their products more competitive.”
The ever-expanding universe of options is also driving the trend. An extraordinary array of cloud-based digital and data tools are available to replace nearly all on-premise computerized transactions and virtually every manual task—from front office sales, marketing and customer service to back office billing, accounting and the financial close. The solutions promise enhanced agility and responsiveness, accelerated product development and innovation and cost effectiveness, among other benefits.
Companies are gobbling them up: IT spending on the cloud is projected to exceed $1 trillion by 2020, according to Gartner, which predicts that more than half of global enterprises currently using cloud tools will adopt an all-in cloud strategy in the next four years.
“Obviously, every CEO is interested in digital right now, but it means different things to different companies,” says McKinsey & Company’s Tim Koller. “Some companies are investing in the IoT (Internet of Things) to run their factories better and provide better products and services to customers. But the reality is that most industries are doing digital to drive down costs and make their products more competitive.”
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
