22 January 2021
In 2020 every industry relied on technology for resilience. Technology powered an overnight shift to remote work in business, ensured the continuation of care via telemedicine and connected teachers and students to allow education to continue. It wasn’t easy. The industry faced challenges from managing unplanned shortages and surges in demand, to rerouting supply chains, to ensuring the safety of their own workforce. They say hindsight is 20/20, and the past year has certainly brought new perspective and clarity to the tech industry. While tech CFOs are optimistic for continued growth, it’s far from business as usual. New priorities and risks are in increased focus, and although innovation is still the driving force of the industry, the next year will be all about optimization. The 2021 BDO Technology CFO Outlook Survey finds that with ample opportunity and a historic shift in the market, tech companies will need to find the right path to maximize growth opportunities, carefully consider the right sources of capital, rethink global supply chains and make adjustments to plan for the future of work. They’ll make these moves under the equally watchful and grateful eyes of stakeholders who are still counting on their services and products to help them manage both their professional and personal lives.