Media and entertainment businesses know all about technological disruption: digitalization has already transformed their marketplaces, undermining traditional business models and powering huge new growth opportunities. For the finance functions of these businesses, however, there’s a new challenge. How can they embrace emerging technologies that enable the wider enterprise to compete in this new world?
Automation offers exciting opportunities. First, technologies such as robotic process automation (RPA), artificial intelligence (AI), and machine learning can drive efficiency, reduce cost, and improve quality, releasing staff from manual processing tasks to carry out higher-value work. Second, finance can use these tools to provide insights to the rest of the business and position itself at the center of the data- driven organization.
Capgemini’s latest research finds that many media and entertainment companies now recognize the potential of finance automation. More than a third of executives in media and entertainment (36%) say their organization has now agreed a transformation strategy for automation in the finance function—ahead of sectors such as manufacturing and financial services, but behind consumer products firms and retailers.
What does the research results tell us about how media and entertainment businesses are handling the shift to finance automation?
- They need to build a vision for automation transformation strategy.
- Their focus must turn to strategic goals as well as operational levers.
- Security must form a critical component of automation strategy.
- Business leaders must seize the initiative.
Read the full report to learn how intelligent automation is transforming finance in the media and entertainment sector.
Read our main “Reimagining finance for the digital age” report that surveys 500 senior finance executives in Europe and North America about how intelligent automation is transforming the finance function.