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Exciting developments in enterprise resource planning provide us with a compelling snapshot of how the country is progressing with regards to digital transformation. Digital transformation was all anyone could talk about in 2018, a trend that will undoubtedly continue in the new year.
Online communication has shaken up the rules for traditional communication – not only in general life, but in business too.
South Africa’s banking sector is increasingly moving towards a ‘marketplace without boundaries’, shaped by the fast-approaching entry of new digital players challenging the status quo in the market, and driving unprecedented levels of innovation.
Transformation has been a trending word for a while, as businesses across the globe incorporate their own interpretation of the word into their businesses. Digital transformation, in particular, continues to be a topic prioritised in many boardrooms. However, digital transformation is not a button that you press to enable; it’s a journey, comprising many steps and technologies to work for your business.
Over the years it became clear that financial statements on their own did not tell the whole story of a company’s performance. Companies therefore started reporting on their environmental impacts, employee-related issues and corporate social responsibility issues.
As the influence of digital transformation continues to weigh on African emerging markets, digital trends and communication platforms are impacting how accounting and finance professionals deal with and manage their businesses.