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Speeding Towards Transformation: 2021 Trends In Finance And Accounting
We are approaching the end of 2020, a year unlike any other in the history of finance and accounting. The Covid-19 pandemic and its economic, social and political impacts have accelerated profound changes in business, work and life. CFOs and other finance professionals have spent much of the year trying to address the challenges, but in 2021 they will be poised for executing longer-term strategies that will position their organizations for growth and profitability, or as McKinsey says, “crisis managers with a long term view.”
There are already optimistic signs that finance and accounting leaders and their teams are better able to navigate the current climate and are prepared for future scenarios, like more lockdowns or additional restrictions. For example food and beverage finance leaders quickly adapted to Covid by beefing up investment in mobile apps and curbside pickup. They see changes in consumers’ purchasing behaviors (49% of consumers downloaded two or more apps during Covid for food and beverage purchases) as a permanent trend.