Related content

An asset manager’s secret to saving time and money

Case study: U.S. asset manager expands to Europe

Improve online presence your business

Refining your search for an insurance custodian

In a digital world, Liberty Puzzles embraces true connection

3 simple brand awareness tips for your business

How to get started creating your business plan

Programme debt clients want reliable service – no matter where they’re based

5 tips to use your credit card wisely and steer clear of debt

Emerging trends in Europe: An outlook from multiple perspectives

Webinar: CRE technology trends

Business risk management for owners of small companies

Webinar: CSM corporation re-thinks AP

5 winning strategies for managing liquidity in volatile times

4 benefits of independent loan agents

Middle-market direct lending: Obstacles and opportunities

Digital processes streamline M&A transactions

High-cost housing and down payment options in relocation

Managing complex transactions: what your corporate trustee should be doing

At your service: outsourcing loan agency work

Preparing for your custodian conversion

4 questions you should ask about your custodian

Maximizing your infrastructure finance project with a full suite trustee and agent

How to maximise your infrastructure finance project

Insource or outsource? 10 considerations

High-yield bond issuance: how to avoid 5 common pain points

Easier onboarding: What to look for in an administrator

Putting home ownership within reach for a diverse workforce

European outlook: Trustee experience more important than ever

How jumbo loans can help home buyers and your builder business

How to apply for a business credit card

Prioritizing payroll during the COVID-19 pandemic

Meet your business credit card support team

The growing importance of a strong corporate culture

Gift cards can extend ROI into 2022

Omnichannel retail: 4 best practices for navigating the new normal

Is your restaurant Google-friendly?

How to reward employees and teams who perform well

8 ways to increase employee engagement

Business tips and advice for Black entrepreneurs

10 tips on how to run a successful family business

Empowering team members

Why retail merchandise returns will be a differentiator in 2022

How a travel clothing retailer is staying true to its brand values

Use this one simple email marketing tip to increase your reach

Opening a business on a budget during COVID-19

How a small business owner is making the workplace work for women

How (and why) to get your business supplier diversity certification

Business credit card 101

Checklist: Increase lead generation with website optimization

The role of ethics in the hiring process

Choosing your M&A escrow partner

For today's relocating home buyers, time and money are everything

Crypto + Relo: Mobility industry impacts

How to test new business ideas

How to increase your savings

How a group fitness studio made the most of online workouts

Year-end financial checklist

How community gave life to lifestyle boutique Les Sol

The San Francisco bridal shop that’s been making memories for 30 years

How Wenonah Canoe is making a boom in business last

Complying with changes in fund regulations

Evaluating interest rate risk creating risk management strategy

High-yield bond issuance: 5 traits lawyers should look for in a service provider

3 tips to maintain flexibility in supply chain management

How to build a content team

Travel for less: Smart (not cheap) ways to spend less on your next trip

Tips to overcome three common savings hurdles

Helpful tips for safe and smart charitable giving

Are savings bonds still a thing?

Allowance basics for parents and kids

Easing complex transactions: Project finance case studies

Administrator accountability: 5 questions to evaluate outsourcing risks

How Shampoo’ed is transforming hair and inspiring entrepreneurs

Addressing financial uncertainty in international business

Webinar: AP automation for commercial real estate

Top 3 considerations when selecting an IPA partner

3 innovative approaches to ESG investing in Europe

The future of financial leadership: More strategy, fewer spreadsheets

5 tips for managing your business cash flow

How to spot a credit repair scam

6 ways to spring clean your finances and save money year-round

How to cut mindless spending: real tips from real people

Real world advice: How parents are teaching their kids about money

How to stop living paycheck to paycheck post-pay increase

Practical money tips we've learned from our dads

Give a prepaid rewards card for employee recognition

Employee benefit plan management: trustee vs. custodian

5 unique ways to take your credit card benefits further

5 tips to use your credit card wisely and steer clear of debt

30-day adulting challenge: Financial wellness tasks to complete in a month

Celebrity Cake Studio’s two decades of growth and success

How Al’s Breakfast is bringing people together

What you should know about licensing agreements

Webinar: CRE Digital Transformation – Balancing Digitization with cybersecurity risk

Webinar: CRE Digital Transformation – Balancing Digitization with cybersecurity risk

5 steps for creating an employee recognition program

How to hire employees: Employee referral vs. external hiring

Break free from cash flow management constraints

Service provider due diligence and selection best practices

How a bar trivia company went digital during COVID-19

Evaluating interest rate risk creating risk management strategy

CFO report: Driving growth via new business models and technology 

May 14, 2021

2021 CFO Insights Report from U.S. Bank shines a light on how U.S. finance leaders are evaluating new business models and leveraging technology to drive growth and transformation.

 

Faced with the challenges of a historic pandemic, American businesses have demonstrated remarkable resilience over the past year, balancing short-term needs with investment in the future. U.S. Bank surveyed CFOs and senior finance leaders across industries to learn how they’re creating growth opportunities during the recovery and we uncovered transformation at work. The survey shows finance teams are driving growth by altering the capital allocation process, exploring new business models and investing in innovative technology.
 

Evaluating new business models 

How exactly are finance leaders helping their businesses to drive growth and transformation? According to the survey, evaluating new business models is the most popular method. With COVID-19 upending traditional consumer preferences and supply chains, 42% say they are investigating new business models to keep up. Because they have access to a wide range of financial and operational data and have advanced analytical skills, finance teams are best placed to evaluate new business models.

Of note, there are vast differences between sectors. Finance leaders in manufacturing and industry are most likely to explore new business models (52%) while finance leaders in health and life sciences are least likely (36%).

 

Leveraging technology

One third of finance leaders are helping their businesses drive growth and transformation by exploring and reviewing new technologies. Finance leaders are suited to this, because their analytical capabilities enable them to assess the potential payback. Because they can see performance across the entire business, they can also understand which areas would benefit most from new technology.

According to the survey, 50% of finance leaders intend to cut costs by investing in technology, and 25% rank deploying technology within the function as a top three priority.

When asked which areas within finance would benefit most from digital transformation, finance leaders ranked risk and compliance first (39%). This is likely driven by the fact that COVID-19 has raised awareness of the importance of adequate risk processes, controls and tools. The pandemic has also rapidly accelerated the rate at which customers interact and purchase from businesses through digital channels, which may be forcing finance teams to invest in technologies that help prevent payments fraud.

 

To learn more about how U.S. finance teams are guiding their businesses toward sustainable growth, read the 2021 CFO Insights Report from U.S. Bank.

Related Content

Tech tools to keep your restaurant operations running smoothly

3 reasons governments and educational institutions should implement service fees

Hybridization driving demand

Staying organized when taking payments

Authenticating cardholder data reduce e-commerce fraud

Are you ready to restart your federal student loan payments?

Tips to earn that A+ in back-to-school savings

Using 529 plans for K-12 tuition

How to open and invest in a 529 plan

How grandparents can contribute to college funds instead of buying gifts

Webinar: CRE technology trends

5 winning strategies for managing liquidity in volatile times

Higher education and the cashless society: Latest trends

Managing the rising costs of payment acceptance with service fees

Work flexibility crucial as municipalities return to office

What corporate treasurers need to know about Virtual Account Management

CFO survey: A shifting focus on ESG in business

Digital processes streamline M&A transactions

CFO report: Driving growth via new business models and technology

How RIAs can embrace technology to enhance personal touch

CFO insights: Leading the recovery for sustainable growth

Empowering managers with data automation and integration

Delivering powerful results with SWIFT messaging and services

Luxembourg's thriving private debt market

Insource or outsource? 10 considerations

Easier onboarding: What to look for in an administrator

Tools that can streamline staffing and employee management

Planning for restaurant startup costs and when to expect them

5 things to know before accepting a first job offer

How does an electronic point of sale help your business keep track of every dime?

How iPads can help increase efficiency in your salon

Key considerations for online ordering systems

How small businesses are growing sales with online ordering

How I did it: Switched career paths by taking an unexpected pivot

How to identify what technology is needed for your small business

The secret to successful service provider integration

Is a home equity loan for college the right choice for your student

How to apply for federal student aid through the FAFSA

What to consider before taking out a student loan

The A to Z’s of college loan terms

10 ways a global custodian can support your growth

3 questions to ask your equity, quant and CTA fund administrator

The benefits of a full-service warehouse custodian

The future of financial leadership: More strategy, fewer spreadsheets

Co-signing 101: Applying for a loan with co-borrower

5 ways to build your business through community engagement

Webinar: Robotic process automation

Student checklist: Preparing for college

Webinar: Bank Notes: College cost comparison

Parent checklist: Preparing for college

Authenticating cardholder data reduce e-commerce fraud

Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.