EIU Report: U.S. Executives Look to Digital Technology to Support Business Recovery

Before the COVID-19 pandemic, the U.S. economy was humming, enjoying low unemployment, a bull market and moderate GDP growth. Then the pandemic hit, exacting a painful personal toll across the country even as it upended the economy.

U.S. executives are presently working through what recovery will look like, determining how to evolve their organizations to meet newly urgent strategic priorities even as support business continuity. In a recent study conducted by SAP Concur and The Economist Group, 86% of U.S. executives agreed that maintaining organizational agility is the only way to navigate uncertainty.

Executives were asked to assess their performance relative to peers. While U.S. executives give themselves high marks the use of emerging technologies, some areas of concern arise. For example, only one-third say they are “much stronger” at controlling costs and operational agility, compared with their industry peers. This suggests that most executives surveyed are struggling to find effective ways to control costs and run their business as efficiently as they would like.

When asked about the role of Travel and Expense (T&E) solutions play in supporting business recovery, 90% of U.S. executives agree that using an automated T&E management solution is necessary for their organization to remain agile in today’s economy. In addition, 92% agree that the use of real-time data analytics has helped their organization ensure that spend and operations align with company goals.

U.S. executives show clear desire to enhance operational agility in a time of uncertainty. One way to that is by investing intelligent technologies such as artificial intelligence, analytics tool and automation. Download the paper to learn how US executives look to digital technology to recover and regain business momentum.